Antero Midstream (NYSE:AM) Price Target Raised to $19.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company raised its price target for Antero Midstream from $17.00 to $19.00, indicating a potential upside of 4.40% from the current stock price.
• Antero Midstream reported earnings of $0.26 per share for the last quarter, exceeding the consensus estimate of $0.24, with revenue up 13.2% year-over-year.
• Insider trading activity included Director Brooks J. Klimley selling 5,000 shares at an average price of $18.88, which represented a 6.36% decrease in his stake in the company.

Antero Midstream (NYSE:AM - Free Report) had its price objective hoisted by Wells Fargo & Company from $17.00 to $19.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the pipeline company's stock.

Several other equities research analysts have also recently weighed in on the company. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Morgan Stanley reissued an "underweight" rating and set a $17.00 price objective (up previously from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd.

Antero Midstream Stock Down 0.9%

Shares of NYSE AM traded down $0.17 during trading hours on Friday, hitting $18.49. The stock had a trading volume of 3,395,445 shares, compared to its average volume of 3,175,692. The company has a market capitalization of $8.86 billion, a P/E ratio of 19.46 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The firm's 50-day moving average price is $18.10 and its two-hundred day moving average price is $17.40. Antero Midstream has a 52 week low of $13.51 and a 52 week high of $19.08.

Antero Midstream (NYSE:AM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%. The firm had revenue of $305.47 million for the quarter, compared to analysts' expectations of $292.70 million. During the same quarter last year, the business earned $0.23 earnings per share. The company's revenue was up 13.2% compared to the same quarter last year. Analysts anticipate that Antero Midstream will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Wednesday, July 23rd. Antero Midstream's dividend payout ratio is currently 94.74%.

Insider Transactions at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the transaction, the director owned 73,645 shares in the company, valued at $1,390,417.60. The trade was a 6.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Institutional Trading of Antero Midstream

A number of large investors have recently modified their holdings of AM. US Bancorp DE increased its stake in Antero Midstream by 1.6% during the 2nd quarter. US Bancorp DE now owns 38,108 shares of the pipeline company's stock worth $722,000 after buying an additional 610 shares during the period. Hancock Whitney Corp grew its position in Antero Midstream by 1.5% in the fourth quarter. Hancock Whitney Corp now owns 43,085 shares of the pipeline company's stock worth $650,000 after acquiring an additional 624 shares in the last quarter. CWM LLC raised its stake in Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock valued at $170,000 after purchasing an additional 629 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Antero Midstream by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock valued at $733,000 after buying an additional 640 shares in the last quarter. Finally, Commerce Bank grew its holdings in shares of Antero Midstream by 5.0% in the 1st quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock worth $301,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company's stock.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.