Antero Midstream (NYSE:AM) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Antero Midstream (NYSE:AM) released its quarterly earnings data on Wednesday. The pipeline company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03), FiscalAI reports. The firm had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $326.43 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%.

Antero Midstream Stock Down 0.7%

AM stock traded down $0.16 during trading hours on Wednesday, reaching $21.59. 1,839,437 shares of the stock were exchanged, compared to its average volume of 2,635,623. The firm’s 50-day moving average is $22.05 and its 200-day moving average is $21.48. Antero Midstream has a 12 month low of $16.84 and a 12 month high of $23.83. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $10.26 billion, a price-to-earnings ratio of 25.11 and a beta of 0.64.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 104.65%.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the transaction, the insider owned 580,565 shares in the company, valued at $12,714,373.50. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the sale, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This represents a 6.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Aptus Capital Advisors LLC bought a new stake in shares of Antero Midstream during the 4th quarter worth $283,000. Caxton Associates LLP purchased a new stake in Antero Midstream during the 2nd quarter valued at $252,000. Polymer Capital Management US LLC bought a new position in shares of Antero Midstream during the third quarter valued at approximately $221,000. Vise Technologies Inc. bought a new position in shares of Antero Midstream in the 4th quarter worth approximately $217,000. Finally, Principal Securities Inc. grew its holdings in Antero Midstream by 146.3% in the fourth quarter. Principal Securities Inc. now owns 10,531 shares of the pipeline company’s stock worth $187,000 after purchasing an additional 6,256 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a research note on Wednesday, April 22nd. Finally, Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.25.

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.