Analysts Set Antero Midstream Corporation (NYSE:AM) Price Target at $24.00

Antero Midstream Corporation (NYSE:AM) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $24.00.

A number of analysts recently weighed in on the stock. UBS Group raised their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 25th. Wells Fargo & Company boosted their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings cut shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th.

Antero Midstream Stock Performance

NYSE AM opened at $22.59 on Friday. Antero Midstream has a twelve month low of $16.77 and a twelve month high of $23.83. The stock has a market cap of $10.73 billion, a PE ratio of 26.27 and a beta of 0.64. The stock has a fifty day simple moving average of $21.82 and a 200-day simple moving average of $21.04. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.25 earnings per share. Equities analysts anticipate that Antero Midstream will post 1.11 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Insider Buying and Selling

In related news, insider Yvette K. Schultz sold 69,269 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the sale, the insider directly owned 580,565 shares of the company’s stock, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This represents a 6.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Antero Midstream

Institutional investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC acquired a new position in Antero Midstream during the fourth quarter valued at $27,000. Arax Advisory Partners boosted its position in Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 791 shares during the period. Larson Financial Group LLC boosted its position in Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 708 shares during the period. Root Financial Partners LLC grew its stake in Antero Midstream by 36.4% during the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 2,199 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.