Antero Midstr (AMGP) Sees Large Drop in Short Interest

Antero Midstr (NYSE:AMGP) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 1,662,640 shares, a drop of 32.6% from the October 31st total of 2,467,140 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 562,398 shares, the days-to-cover ratio is currently 3.0 days.

AMGP has been the topic of a number of analyst reports. Seaport Global Securities initiated coverage on shares of Antero Midstr in a research report on Tuesday, October 10th. They issued a “buy” rating and a $26.00 target price on the stock. Stifel Nicolaus upgraded shares of Antero Midstr from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Monday, August 14th. They noted that the move was a valuation call. Robert W. Baird restated a “buy” rating and issued a $28.00 price objective on shares of Antero Midstr in a research report on Friday, November 3rd. Zacks Investment Research upgraded shares of Antero Midstr from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Scotiabank restated a “hold” rating and issued a $24.00 price objective on shares of Antero Midstr in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Antero Midstr currently has a consensus rating of “Buy” and a consensus target price of $26.25.

Shares of Antero Midstr (NYSE:AMGP) opened at $17.75 on Friday. Antero Midstr has a 52 week low of $16.62 and a 52 week high of $22.87.

Antero Midstr (NYSE:AMGP) last released its quarterly earnings data on Wednesday, November 1st. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). The business had revenue of $19.07 million for the quarter, compared to the consensus estimate of $19.44 million. Antero Midstr had a net margin of 4.41% and a return on equity of 17.95%. research analysts predict that Antero Midstr will post 0.18 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 23rd. Stockholders of record on Wednesday, November 1st were given a dividend of $0.059 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Tuesday, October 31st. This is a boost from Antero Midstr’s previous quarterly dividend of $0.03.

Several hedge funds have recently added to or reduced their stakes in AMGP. Botty Investors LLC acquired a new stake in shares of Antero Midstr during the second quarter worth $101,000. Catalyst Capital Advisors LLC lifted its holdings in Antero Midstr by 1,854.5% in the third quarter. Catalyst Capital Advisors LLC now owns 8,600 shares of the company’s stock valued at $176,000 after acquiring an additional 8,160 shares during the period. BNP Paribas Arbitrage SA acquired a new stake in Antero Midstr in the third quarter valued at $220,000. Wells Fargo & Company MN acquired a new stake in Antero Midstr in the second quarter valued at $255,000. Finally, CNH Partners LLC acquired a new stake in Antero Midstr in the second quarter valued at $319,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.

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About Antero Midstr

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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