Antero Midstream (NYSE:AM) Raised to Buy at Wall Street Zen

Key Points

• Antero Midstream has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive outlook for the company.
• Morgan Stanley has set a price target of $17.00, while Wells Fargo raised theirs to $19.00, showcasing mixed analyst opinions on the stock's potential.
• The company's recent earnings report showed $0.26 earnings per share, exceeding expectations and reflecting a 13.2% increase in revenue year-over-year.

Antero Midstream (NYSE:AM - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other research analysts also recently commented on the company. Morgan Stanley reaffirmed 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. Wells Fargo & Company boosted their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday.

Antero Midstream Stock Up 0.8%

Shares of NYSE AM traded up $0.14 during midday trading on Friday, reaching $18.67. The company's stock had a trading volume of 1,755,972 shares, compared to its average volume of 3,166,697. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream has a fifty-two week low of $13.12 and a fifty-two week high of $19.08. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 19.65 and a beta of 0.97. The stock has a 50 day simple moving average of $18.10 and a 200-day simple moving average of $17.38.

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

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company's stock.

Institutional Trading of Antero Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in AM. US Bancorp DE increased its position in Antero Midstream by 1.6% during the 2nd quarter. US Bancorp DE now owns 38,108 shares of the pipeline company's stock valued at $722,000 after purchasing an additional 610 shares during the period. Hancock Whitney Corp increased its position in Antero Midstream by 1.5% during the 4th quarter. Hancock Whitney Corp now owns 43,085 shares of the pipeline company's stock valued at $650,000 after purchasing an additional 624 shares during the period. CWM LLC increased its position 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 period. Private Advisor Group LLC increased its position in Antero Midstream by 1.6% during the 1st quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock valued at $733,000 after purchasing an additional 640 shares during the period. Finally, Commerce Bank increased its position in Antero Midstream by 5.0% during the 1st quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock valued at $301,000 after purchasing an additional 800 shares during the period. 53.97% of the stock is currently owned by institutional investors.

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.