UBS Group Increases Antero Midstream (NYSE:AM) Price Target to $24.00

Antero Midstream (NYSE:AM) had its price target boosted by UBS Group from $22.00 to $24.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the pipeline company’s stock. UBS Group’s target price points to a potential upside of 2.15% from the company’s current price.

A number of other brokerages have also weighed in on AM. Weiss Ratings upgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. The Goldman Sachs Group upped their price objective on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Wells Fargo & Company increased 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. Finally, Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.50.

Antero Midstream Stock Performance

Shares of AM stock traded up $0.22 during trading hours on Wednesday, reaching $23.50. The company had a trading volume of 507,548 shares, compared to its average volume of 2,927,698. The business has a fifty day moving average price of $20.87 and a 200-day moving average price of $19.08. Antero Midstream has a one year low of $15.07 and a one year high of $23.58. The firm has a market cap of $11.12 billion, a PE ratio of 27.29 and a beta of 0.77. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The company had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Antero Midstream will post 0.95 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Yvette K. Schultz sold 25,000 shares of Antero Midstream stock in a transaction on Monday, March 9th. The stock was sold at an average price of $22.81, for a total transaction of $570,250.00. Following the transaction, the insider directly owned 649,834 shares in the company, valued at approximately $14,822,713.54. The trade was a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the transaction, the director owned 69,680 shares in the company, valued at $1,613,788.80. This trade represents a 6.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,000 shares of company stock valued at $1,004,690 in the last 90 days. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Antero Midstream

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Antero Midstream by 0.3% in the third quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock worth $723,424,000 after buying an additional 124,102 shares during the period. Invesco Ltd. grew its stake in shares of Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after acquiring an additional 776,791 shares during the period. State Street Corp increased its holdings in Antero Midstream by 1.7% in the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after acquiring an additional 187,912 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock worth $186,328,000 after buying an additional 1,161,684 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Antero Midstream by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company’s stock worth $179,316,000 after buying an additional 71,606 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.