Antero Midstream (NYSE:AM) Lowered to “Neutral” at Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group lowered shares of Antero Midstream (NYSE:AM) from an overweight rating to a neutral rating in a report issued on Friday morning, BenzingaRatingsTable reports. Mitsubishi UFJ Financial Group currently has $13.00 target price on the pipeline company’s stock, down from their previous target price of $17.00. Mitsubishi UFJ Financial Group also issued estimates for Antero Midstream’s Q3 2019 earnings at $0.23 EPS, Q4 2019 earnings at $0.25 EPS, FY2019 earnings at $0.78 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.26 EPS, Q3 2020 earnings at $0.26 EPS, Q4 2020 earnings at $0.26 EPS and FY2020 earnings at $1.04 EPS.

Other analysts also recently issued research reports about the company. Stifel Nicolaus downgraded Antero Midstream from a buy rating to a hold rating and lowered their target price for the company from $14.00 to $11.00 in a research report on Thursday. ValuEngine downgraded Antero Midstream from a sell rating to a strong sell rating in a research report on Friday, July 19th. Zacks Investment Research raised Antero Midstream from a sell rating to a buy rating and set a $13.00 target price on the stock in a research report on Monday, July 8th. Citigroup initiated coverage on Antero Midstream in a research report on Tuesday, May 28th. They issued a buy rating and a $15.00 target price on the stock. Finally, UBS Group downgraded Antero Midstream from a positive rating to a neutral rating and lowered their target price for the company from $17.00 to $13.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $21.36.

Shares of AM traded down $0.10 during midday trading on Friday, hitting $8.33. The stock had a trading volume of 5,925,748 shares, compared to its average volume of 5,465,946. The firm has a 50 day moving average of $11.12. Antero Midstream has a twelve month low of $8.11 and a twelve month high of $19.61. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.59.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.07). The firm had revenue of $255.62 million during the quarter, compared to analyst estimates of $283.69 million. Antero Midstream had a net margin of 29.31% and a return on equity of 15.55%. Antero Midstream’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, sell-side analysts predict that Antero Midstream will post 0.81 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Friday, July 26th will be given a $0.308 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 14.79%. This is an increase from Antero Midstream’s previous quarterly dividend of $0.30. Antero Midstream’s payout ratio is currently 372.73%.

In related news, Director Yorktown Viii Associates Llc sold 1,825,600 shares of Antero Midstream stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $12.61, for a total transaction of $23,020,816.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider K. Phil Yoo sold 20,000 shares of Antero Midstream stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $13.17, for a total value of $263,400.00. The disclosure for this sale can be found here. Company insiders own 7.91% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AM. BlackRock Inc. increased its position in Antero Midstream by 13.3% in the 4th quarter. BlackRock Inc. now owns 697,607 shares of the pipeline company’s stock worth $14,922,000 after purchasing an additional 82,131 shares during the last quarter. Northern Trust Corp increased its position in Antero Midstream by 0.3% in the 4th quarter. Northern Trust Corp now owns 161,922 shares of the pipeline company’s stock worth $3,463,000 after purchasing an additional 512 shares during the last quarter. Deutsche Bank AG increased its position in Antero Midstream by 15.3% in the 4th quarter. Deutsche Bank AG now owns 597,234 shares of the pipeline company’s stock worth $12,774,000 after purchasing an additional 79,115 shares during the last quarter. JJJ Advisors Inc. increased its position in Antero Midstream by 4,661.9% in the 1st quarter. JJJ Advisors Inc. now owns 190,284 shares of the pipeline company’s stock worth $2,622,000 after purchasing an additional 186,288 shares during the last quarter. Finally, HITE Hedge Asset Management LLC bought a new stake in shares of Antero Midstream during the 1st quarter worth about $14,162,000. Institutional investors and hedge funds own 58.75% 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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Analyst Recommendations for Antero Midstream (NYSE:AM)

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