Antero Midstream (NYSE:AM) Price Target Raised to $24.00

by · The Markets Daily

Antero Midstream (NYSE:AMFree Report) had its price target raised by Wells Fargo & Company from $23.00 to $24.00 in a report issued on Monday, MarketBeat reports. The firm currently has an equal weight rating on the pipeline company’s stock.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a report on Tuesday, July 14th. Finally, Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and an average price target of $24.50.

Check Out Our Latest Report on Antero Midstream

Antero Midstream Stock Performance

Shares of Antero Midstream stock opened at $21.17 on Monday. The business has a 50-day simple moving average of $22.02 and a 200-day simple moving average of $21.65. 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 company has a market cap of $10.05 billion, a PE ratio of 25.21 and a beta of 0.65.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.3%. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its holdings in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares during the last quarter. Arax Advisory Partners boosted its position in shares of Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 791 shares during the period. 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 worth $39,000 after buying an additional 2,199 shares during the last quarter. Root Financial Partners LLC increased its position in Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after buying an additional 537 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Antero Midstream by 401.4% in the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after buying an additional 2,224 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

About Antero Midstream

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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.

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