Antero Midstream (NYSE:AM) Rating Increased 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 researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

A number of other analysts also recently issued reports on AM. Wells Fargo & Company raised their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday. Morgan Stanley reaffirmed an "underweight" rating and set a $17.00 price target (up previously from $16.00) on shares of Antero Midstream in a report on Tuesday, June 3rd.

Antero Midstream Stock Down 2.7%

NYSE:AM traded down $0.50 on Friday, reaching $18.17. 1,723,526 shares of the stock traded hands, compared to its average volume of 3,166,702. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 19.08 and a beta of 0.97. 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 12 month low of $13.51 and a 12 month high of $19.08. The company's fifty day simple moving average is $18.10 and its 200 day simple moving average is $17.40.

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

Insiders Place Their Bets

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.61% of the company's stock.

Institutional Trading of Antero Midstream

A number of large investors have recently made changes to their positions in AM. LPL Financial LLC lifted its stake in Antero Midstream by 1.5% in the fourth quarter. LPL Financial LLC now owns 318,777 shares of the pipeline company's stock worth $4,810,000 after acquiring an additional 4,710 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Antero Midstream by 7.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 53,386 shares of the pipeline company's stock valued at $806,000 after acquiring an additional 3,888 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Antero Midstream in the 4th quarter worth approximately $163,000. Franklin Resources Inc. increased its holdings in Antero Midstream by 18.5% in the 4th quarter. Franklin Resources Inc. now owns 251,813 shares of the pipeline company's stock worth $3,800,000 after buying an additional 39,340 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Antero Midstream by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 6,106,502 shares of the pipeline company's stock worth $92,174,000 after buying an additional 25,001 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Antero Midstream Company Profile

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.