Antero Midstream Partners LP (AM) PT Set at $44.00 by Scotiabank
Antero Midstream Partners LP (NYSE:AM) has been given a $44.00 price target by equities researchers at Scotiabank in a note issued to investors on Saturday. The brokerage currently has a “buy” rating on the pipeline company’s stock. Scotiabank’s price objective indicates a potential upside of 47.26% from the company’s current price.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Antero Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. ValuEngine cut Antero Midstream Partners from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Guggenheim began coverage on Antero Midstream Partners in a research report on Thursday, July 20th. They issued a “buy” rating and a $37.00 price objective on the stock. Robert W. Baird set a $42.00 price objective on Antero Midstream Partners and gave the stock a “buy” rating in a research report on Sunday, September 10th. Finally, BidaskClub raised Antero Midstream Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $39.25.
Shares of Antero Midstream Partners (NYSE:AM) traded up 0.17% during midday trading on Friday, hitting $29.88. The stock had a trading volume of 236,312 shares. Antero Midstream Partners has a 52 week low of $27.01 and a 52 week high of $35.74. The company’s 50 day moving average is $31.44 and its 200 day moving average is $32.77. The firm has a market cap of $5.58 billion, a P/E ratio of 29.58 and a beta of 1.92.
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In related news, major shareholder Resources Corp Antero sold 10,000,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $31.11, for a total transaction of $311,100,000.00. Following the completion of the transaction, the insider now directly owns 98,870,335 shares in the company, valued at $3,075,856,121.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 7.91% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AM. Ameriprise Financial Inc. purchased a new position in shares of Antero Midstream Partners in the 1st quarter worth about $484,000. Alliancebernstein L.P. boosted its holdings in shares of Antero Midstream Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 15,002 shares of the pipeline company’s stock worth $497,000 after purchasing an additional 4,332 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Antero Midstream Partners in the 1st quarter worth about $452,000. Bank of America Corp DE boosted its holdings in shares of Antero Midstream Partners by 39.6% in the 1st quarter. Bank of America Corp DE now owns 563,577 shares of the pipeline company’s stock worth $18,689,000 after purchasing an additional 159,856 shares in the last quarter. Finally, HighTower Advisors LLC purchased a new position in shares of Antero Midstream Partners in the 1st quarter worth about $978,000. Hedge funds and other institutional investors own 43.22% of the company’s stock.
Antero Midstream Partners Company Profile
Antero Midstream Partners LP is a limited partnership formed by Antero Resources Corporation (Antero Resources) to own, operate and develop midstream energy assets to service Antero Resources’ production. The Company’s segments include gathering and compression, and water handling and treatment. The gathering and compression segment includes a network of gathering pipelines, compressor stations, and processing and fractionation plants that collect and process natural gas, natural gas liquids (NGLs) and oil from Antero Resources’ wells in West Virginia and Ohio.
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