Wall Street Zen Upgrades Antero Midstream (NYSE:AM) to “Buy”

Antero Midstream (NYSE:AM) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other research firms have also weighed in on AM. Wells Fargo & Company raised their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Zacks Research cut Antero Midstream from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. Capital One Financial raised shares of Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a research report on Tuesday, September 22nd. Finally, UBS Group decreased their price target on Antero Midstream from $24.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Antero Midstream currently has an average rating of “Hold” and an average price target of $24.20.

Antero Midstream Price Performance

AM stock opened at $21.47 on Friday. Antero Midstream has a one year low of $16.96 and a one year high of $23.83. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $21.36 and a two-hundred day simple moving average of $21.55. The stock has a market cap of $10.14 billion, a PE ratio of 15.12 and a beta of 0.71.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, October 28th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Antero Midstream had a return on equity of 33.53% and a net margin of 53.45%. The company had revenue of $327.02 million during the quarter, compared to the consensus estimate of $340.62 million. During the same period in the prior year, the business posted $0.24 earnings per share. Antero Midstream’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, analysts predict that Antero Midstream will post 1.23 EPS for the current fiscal year.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the transaction, the director directly owned 68,204 shares of the company’s stock, valued at $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares in the company, valued at $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AM. Richardson Financial Services Inc. grew its position in shares of Antero Midstream by 28.3% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,314 shares of the pipeline company’s stock valued at $47,000 after acquiring an additional 511 shares during the period. Root Financial Partners LLC boosted its stake in shares of Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 537 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Antero Midstream by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company’s stock worth $489,000 after buying an additional 537 shares during the last quarter. Wedmont Private Capital boosted its holdings in Antero Midstream by 2.1% in the second quarter. Wedmont Private Capital now owns 29,797 shares of the pipeline company’s stock valued at $664,000 after purchasing an additional 608 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Antero Midstream by 3.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 21,743 shares of the pipeline company’s stock worth $495,000 after acquiring an additional 642 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

About Antero Midstream

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company’s services include gathering and compression, water handling and other infrastructure activities that help producers transport hydrocarbons from well sites to processing and takeaway facilities.

Antero Midstream primarily serves Antero Resources’ operations in the Appalachian Basin, particularly in West Virginia and Ohio.