Antero Midstream (NYSE:AM) Reaches New 52-Week High - Here's Why

Shares of Antero Midstream Co. (NYSE:AM - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $18.60 and last traded at $18.31, with a volume of 135332 shares. The stock had previously closed at $18.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AM. Wells Fargo & Company upped their price target on shares of Antero Midstream from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. StockNews.com upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd.

Antero Midstream Trading Up 0.3%

The stock has a market capitalization of $8.69 billion, a P/E ratio of 21.86 and a beta of 0.99. The stock's 50 day moving average price is $17.11 and its 200-day moving average price is $16.16. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.47.

Antero Midstream (NYSE:AM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Antero Midstream had a return on equity of 18.82% and a net margin of 36.24%. The business had revenue of $291.13 million for the quarter, compared to analysts' expectations of $277.79 million. During the same quarter last year, the firm earned $0.21 EPS. The business's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Antero Midstream Co. will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend was Wednesday, April 23rd. Antero Midstream's dividend payout ratio is currently 103.45%.

Institutional Investors Weigh In On Antero Midstream

Several institutional investors have recently added to or reduced their stakes in AM. Guild Investment Management Inc. purchased a new position in shares of Antero Midstream in the 4th quarter valued at approximately $1,883,000. Commonwealth Equity Services LLC raised its holdings in shares of Antero Midstream by 45.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 124,701 shares of the pipeline company's stock worth $1,882,000 after buying an additional 39,048 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Antero Midstream during the fourth quarter worth $226,000. Empowered Funds LLC grew its holdings in shares of Antero Midstream by 4.3% during the fourth quarter. Empowered Funds LLC now owns 42,139 shares of the pipeline company's stock valued at $636,000 after buying an additional 1,751 shares during the last quarter. Finally, Columbus Macro LLC acquired a new position in shares of Antero Midstream in the 4th quarter valued at $6,977,000. Institutional investors and hedge funds 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.

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