Antero Midstream (NYSE:AM) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Antero Midstream shares moved above their 200-day moving average on Tuesday, trading as high as $21.52 before last changing hands near $21.35. The move came with heavy volume of 2.65 million shares.
• Wall Street sentiment remains cautious: the stock has an average Hold rating and a consensus price target of $24.00. Recent analyst actions were mixed, including downgrades from Zacks and neutral ratings from UBS, Goldman Sachs, and Wells Fargo.
• The company reported mixed first-quarter results, with EPS of $0.25 missing estimates by a penny while revenue of $314.2 million topped expectations. Antero Midstream also declared a quarterly dividend of $0.225 per share, equal to a 4.2% annualized yield, though the payout ratio is above 100%.

Antero Midstream Corporation (NYSE:AM - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.83 and traded as high as $21.52. Antero Midstream shares last traded at $21.3510, with a volume of 2,646,262 shares.

Wall Street Analyst Weigh In

A number of brokerages have commented on AM. Zacks Research downgraded shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. UBS Group raised their price objective on Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 25th. Weiss Ratings upgraded shares of Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, March 6th. The Goldman Sachs Group upped their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company upped their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $24.00.

Antero Midstream Trading Up 0.2%

The stock has a 50-day moving average of $22.26 and a 200 day moving average of $19.83. The stock has a market cap of $10.14 billion, a PE ratio of 24.83 and a beta of 0.68. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.Antero Midstream's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, sell-side analysts anticipate that Antero Midstream Corporation will post 1.14 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, April 29th. Antero Midstream's dividend payout ratio (DPR) is currently 104.65%.

Insider Activity

In related news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the transaction, the director directly owned 69,680 shares in the company, valued at $1,613,788.80. The trade was a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Yvette K. Schultz sold 69,269 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the completion of the transaction, the insider owned 580,565 shares of the company's stock, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 213,269 shares of company stock valued at $4,713,681. 0.86% of the stock is currently owned by company insiders.

Institutional Trading of Antero Midstream

Several institutional investors have recently bought and sold shares of AM. Richardson Financial Services Inc. grew its holdings in Antero Midstream by 330.2% in the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company's stock valued at $25,000 after purchasing an additional 994 shares during the period. Root Financial Partners LLC acquired a new stake in Antero Midstream in the third quarter valued at approximately $25,000. Elevation Wealth Partners LLC acquired a new stake in Antero Midstream in the fourth quarter valued at approximately $27,000. Quent Capital LLC acquired a new position in shares of Antero Midstream during the 3rd quarter worth about $28,000. Finally, Larson Financial Group LLC raised its position in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after purchasing an additional 708 shares during the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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