Antero Midstream GP LP’s (AMGP) Lock-Up Period Will End on October 31st
Antero Midstream GP’s (NASDAQ:AMGP) lock-up period is set to end on Tuesday, October 31st. Antero Midstream GP had issued 37,250,000 shares in its public offering on May 4th. The total size of the offering was $875,375,000 based on an initial share price of $23.50. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Several equities analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Antero Midstream GP in a report on Tuesday, September 5th. Zacks Investment Research upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Friday, September 8th. Stifel Nicolaus set a $24.00 target price on shares of Antero Midstream GP and gave the company a “hold” rating in a report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) lowered shares of Antero Midstream GP from a “buy” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $23.00 in a report on Friday, September 8th. Finally, Scotiabank restated a “hold” rating and issued a $24.00 price objective on shares of Antero Midstream GP in a report on Wednesday, October 4th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $26.25.
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Antero Midstream GP (AMGP) opened at 18.41 on Tuesday. The firm has a market capitalization of $3.43 billion and a price-to-earnings ratio of 634.83. Antero Midstream GP has a one year low of $17.66 and a one year high of $22.87. The stock has a 50 day moving average of $19.76 and a 200 day moving average of $20.53.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 23rd. Investors of record on Wednesday, November 1st will be given a $0.059 dividend. The ex-dividend date is Tuesday, October 31st. This is a boost from Antero Midstream GP’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a dividend yield of 1.28%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co acquired a new position in Antero Midstream GP during the second quarter valued at approximately $259,000. Russell Investments Group Ltd. acquired a new position in Antero Midstream GP during the second quarter valued at approximately $3,535,000. Eagle Global Advisors LLC acquired a new position in Antero Midstream GP during the second quarter valued at approximately $35,061,000. State of New Jersey Common Pension Fund D acquired a new position in Antero Midstream GP during the second quarter valued at approximately $1,649,000. Finally, Sei Investments Co. acquired a new position in Antero Midstream GP during the second quarter valued at approximately $1,658,000.
Antero Midstream GP Company Profile
Antero Midstream GP LP, formerly Antero Resources Midstream Management LLC, owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing and water handling and treatment. The gathering and processing segment consist of long-term, fee-based activities including low-pressure gathering, compression, high-pressure gathering, processing, fractionation, and condensate gathering.
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