Antero Midstream Corporation (NYSE:AM) Stock Has Consensus Price Target of $24.20

Shares of Antero Midstream Corporation (NYSE:AM) have received an average recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $24.20.

Several brokerages have recently commented on AM. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. UBS Group dropped their price objective on shares of Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, September 21st. Wells Fargo & Company upped their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Capital One Financial upgraded Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 22nd.

Antero Midstream Stock Performance

Antero Midstream stock opened at $20.47 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. Antero Midstream has a one year low of $16.96 and a one year high of $23.83. The stock’s 50 day moving average price is $21.61 and its 200 day moving average price is $21.80. The firm has a market capitalization of $9.72 billion, a PE ratio of 24.37 and a beta of 0.72.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The company had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $326.43 million. During the same period in the prior year, the company posted $0.29 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts expect that Antero Midstream will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 11th. Investors of record on Wednesday, October 28th will be issued a dividend of $0.2250 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Wednesday, October 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Insider Activity

In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider owned 83,900 shares in the company, valued at approximately $1,846,639. The trade was a 16.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brooks Klimley sold 5,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the sale, the director owned 68,204 shares of the company’s stock, valued at $1,450,699.08. The trade was a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of AM. Amundi increased its stake in Antero Midstream by 70.8% in the second quarter. Amundi now owns 940,170 shares of the pipeline company’s stock valued at $21,389,000 after purchasing an additional 389,859 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Antero Midstream by 285.7% during the 2nd quarter. Squarepoint Ops LLC now owns 77,056 shares of the pipeline company’s stock worth $1,753,000 after buying an additional 57,077 shares during the period. Kayne Anderson Capital Advisors LP acquired a new position in shares of Antero Midstream in the second quarter valued at approximately $49,883,000. Cetera Investment Advisers increased its position in shares of Antero Midstream by 9.9% during the first quarter. Cetera Investment Advisers now owns 867,200 shares of the pipeline company’s stock worth $19,772,000 after acquiring an additional 77,936 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new position in Antero Midstream in the 2nd quarter worth $3,763,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

About Antero Midstream

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company’s services include gathering and compression, water handling and other infrastructure activities that help producers transport hydrocarbons from well sites to processing and takeaway facilities.

Antero Midstream primarily serves Antero Resources’ operations in the Appalachian Basin, particularly in West Virginia and Ohio.