Brokerages Set Antero Midstream Co. (NYSE:AM) Target Price at $12.70

Shares of Antero Midstream Co. (NYSE:AM) have earned an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $12.70.

Several research firms recently commented on AM. StockNews.com lowered Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday. Tudor, Pickering, Holt & Co. lowered shares of Antero Midstream from a “buy” rating to a “hold” rating and raised their price target for the company from $12.00 to $13.00 in a report on Tuesday, March 12th.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 16,394 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $13.67, for a total value of $224,105.98. Following the sale, the insider now owns 170,266 shares in the company, valued at approximately $2,327,536.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Antero Midstream

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Antero Midstream by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 35,545,837 shares of the pipeline company’s stock valued at $445,389,000 after acquiring an additional 193,263 shares during the period. Invesco Ltd. lifted its holdings in Antero Midstream by 0.4% in the third quarter. Invesco Ltd. now owns 33,534,655 shares of the pipeline company’s stock worth $401,745,000 after purchasing an additional 135,163 shares during the period. RR Advisors LLC grew its position in Antero Midstream by 2.9% in the 3rd quarter. RR Advisors LLC now owns 6,076,000 shares of the pipeline company’s stock valued at $72,785,000 after buying an additional 169,000 shares in the last quarter. Norges Bank acquired a new position in Antero Midstream during the 4th quarter valued at about $54,704,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Antero Midstream by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,602,607 shares of the pipeline company’s stock worth $45,141,000 after buying an additional 99,592 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Trading Up 1.4 %

NYSE AM opened at $14.15 on Wednesday. The firm has a market capitalization of $6.81 billion, a price-to-earnings ratio of 17.69 and a beta of 2.26. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.25 and a current ratio of 1.25. Antero Midstream has a one year low of $10.09 and a one year high of $14.52. The company’s 50 day moving average price is $13.82 and its 200 day moving average price is $12.99.

Antero Midstream (NYSE:AM) last issued its earnings results on Thursday, April 25th. The pipeline company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). Antero Midstream had a net margin of 36.67% and a return on equity of 20.82%. The business had revenue of $279.05 million during the quarter, compared to analysts’ expectations of $277.25 million. During the same period in the prior year, the business posted $0.21 EPS. The business’s revenue was up 7.5% on a year-over-year basis. On average, sell-side analysts predict that Antero Midstream will post 0.89 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.90 annualized dividend and a yield of 6.36%. Antero Midstream’s dividend payout ratio is presently 112.50%.

Antero Midstream Company Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.