Zacks Investment Research upgraded shares of Antero Midstream (NYSE:AM) from a sell rating to a buy rating in a research note published on Monday morning, Zacks.com reports. They currently have $13.00 price objective on the pipeline company’s stock.
According to Zacks, “Antero Midstream Corporation generates stable fee-based revenues under long-term contracts for providing customized and integrated midstream services to leading natural gas producer — Antero Resources Corporation. Notably, since there is growing demand for midstream infrastructures to support the surging natural gas volumes, Antero Midstream — with $2 billion of organic project backlog — is well positioned to capitalize on this. Moreover, the firm recently cheered investors with the announcement of the first-ever dividend after Antero Midstream GP LP completed buyout of Antero Midstream Partners LP. But the company’s balance sheet reflects weakness, which can constrain the company’s financial flexibility. Also, the dampening natural gas price estimates will likely upset production, in turn, affect midstream demand. “
A number of other research firms have also weighed in on AM. Citigroup set a $73.00 price objective on shares of Esperion Therapeutics and gave the company a buy rating in a research report on Tuesday, May 28th. ValuEngine raised shares of Alleghany from a hold rating to a buy rating in a research report on Friday, April 19th. Raymond James started coverage on shares of Solar Capital in a research report on Tuesday, April 16th. They issued an outperform rating and a $22.50 price objective for the company. Barclays reissued a buy rating on shares of Ultragenyx Pharmaceutical in a research report on Thursday, May 9th. Finally, Capital One Financial reissued an equal weight rating on shares of Antero Midstream in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Antero Midstream presently has a consensus rating of Hold and a consensus price target of $26.11.
NYSE:AM opened at $12.04 on Monday. The firm has a 50 day moving average price of $12.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 2.43 and a beta of 1.22. Antero Midstream has a 1-year low of $10.12 and a 1-year high of $19.67.
Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, May 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.11). The firm had revenue of $265.80 million during the quarter, compared to analyst estimates of $287.06 million. Antero Midstream had a net margin of 35.14% and a return on equity of 14.35%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. Equities analysts expect that Antero Midstream will post 0.85 earnings per share for the current year.
In related news, insider K. Phil Yoo sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $13.17, for a total transaction of $263,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Yorktown Viii Associates Llc sold 1,825,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $12.61, for a total transaction of $23,020,816.00. The disclosure for this sale can be found here.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zimmer Partners LP grew its stake in Antero Midstream by 3.3% during the fourth quarter. Zimmer Partners LP now owns 239,842 shares of the pipeline company’s stock worth $5,130,000 after buying an additional 7,635 shares during the period. BlackRock Inc. grew its stake in Antero Midstream by 13.3% during the fourth quarter. BlackRock Inc. now owns 697,607 shares of the pipeline company’s stock worth $14,922,000 after buying an additional 82,131 shares during the period. Berman Capital Advisors LLC purchased a new stake in Antero Midstream during the fourth quarter worth approximately $115,000. Municipal Employees Retirement System of Michigan purchased a new stake in Antero Midstream during the fourth quarter worth approximately $4,701,000. Finally, Infrastructure Capital Advisors LLC grew its stake in Antero Midstream by 128.7% during the fourth quarter. Infrastructure Capital Advisors LLC now owns 192,197 shares of the pipeline company’s stock worth $4,111,000 after buying an additional 108,160 shares during the period. Institutional investors own 58.03% of the company’s stock.
Antero Midstream Company Profile
Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.
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