Antero Midstream (NYSE:AM) Given New $24.00 Price Target at Wells Fargo & Company

Antero Midstream (NYSE:AM) had its price target increased by equities research analysts at Wells Fargo & Company from $23.00 to $24.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the pipeline company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 9.42% from the stock’s current price.

Several other brokerages have also recently weighed in on AM. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a research report on Tuesday, July 14th. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.50.

Antero Midstream Stock Down 0.2%

Shares of AM opened at $21.93 on Monday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 26.11 and a beta of 0.65. Antero Midstream has a 1 year low of $16.96 and a 1 year high of $23.83. The business’s 50 day simple moving average is $22.03 and its 200-day simple moving average is $21.57.

Hedge Funds Weigh In On Antero Midstream

Large investors have recently modified their holdings of the stock. Arax Advisory Partners lifted its position in Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after buying an additional 791 shares during the last quarter. Larson Financial Group LLC increased its position in Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 708 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 2,199 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after acquiring an additional 2,224 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

About Antero Midstream

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.