Antero Midstream (NYSE:AM) Hits New 12-Month High - Still a Buy?

Antero Midstream Corporation (NYSE:AM - Get Free Report)'s share price hit a new 52-week high during trading on Monday . The stock traded as high as $19.08 and last traded at $19.01, with a volume of 653996 shares. The stock had previously closed at $18.89.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AM shares. Morgan Stanley reissued an "underweight" rating and issued a $17.00 price target (up previously from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd.

Antero Midstream Price Performance

The company has a 50 day simple moving average of $18.19 and a 200-day simple moving average of $17.00. The stock has a market cap of $9.09 billion, a price-to-earnings ratio of 21.80 and a beta of 1.03. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.49.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly 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 19.75% and a net margin of 37.35%. The firm had revenue of $291.13 million for the quarter, compared to the consensus estimate of $277.79 million. During the same quarter last year, the business posted $0.21 EPS. The company's revenue for the quarter was up 4.3% on a year-over-year basis. Research analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Wednesday, April 23rd. Antero Midstream's dividend payout ratio is currently 103.45%.

Insider Activity

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 sale, the director owned 73,645 shares of the company's stock, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of Antero Midstream

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hancock Whitney Corp increased its position in shares of Antero Midstream by 1.5% in the fourth quarter. Hancock Whitney Corp now owns 43,085 shares of the pipeline company's stock valued at $650,000 after acquiring an additional 624 shares during the last quarter. CWM LLC increased its position in shares of Antero Midstream by 7.1% in the first quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock valued at $170,000 after acquiring an additional 629 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Antero Midstream by 1.6% in the first quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock valued at $733,000 after acquiring an additional 640 shares during the last quarter. Commerce Bank increased its position in shares of Antero Midstream by 5.0% in the first quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock valued at $301,000 after acquiring an additional 800 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in shares of Antero Midstream by 4.3% in the fourth quarter. Metis Global Partners LLC now owns 19,773 shares of the pipeline company's stock valued at $298,000 after acquiring an additional 821 shares during the last quarter. 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.