Key Points
- Sheri Pearce sold 14,000 Antero Midstream shares on March 10 at an average of $22.76 for a total of $318,640, trimming her stake by 12.29% to 99,900 shares valued around $2.27M.
- Antero Midstream posted an EPS beat ($0.28 vs. $0.24) on $297M revenue and paid a quarterly dividend of $0.225 (annualized $0.90), implying a 4.0% yield
- Analysts currently rate the stock as a consensus "Hold" with an average target price of $21.33, while several firms have raised individual targets (e.g., Goldman Sachs to $23 and Wells Fargo to $21).
Antero Midstream Corporation (NYSE:AM - Get Free Report) insider Sheri Pearce sold 14,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the sale, the insider directly owned 99,900 shares in the company, valued at $2,273,724. This represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Antero Midstream Price Performance
AM stock opened at $22.58 on Wednesday. Antero Midstream Corporation has a one year low of $15.07 and a one year high of $23.10. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. The stock has a market cap of $10.68 billion, a PE ratio of 26.25 and a beta of 0.77. The firm has a 50 day simple moving average of $19.79 and a two-hundred day simple moving average of $18.72.
Antero Midstream (NYSE:AM - Get Free Report) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The company had revenue of $297.00 million during the quarter, compared to analyst estimates of $292.46 million. During the same period in the previous year, the business earned $0.23 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.
Antero Midstream Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. Antero Midstream's dividend payout ratio is 104.65%.
Analyst Ratings Changes
A number of research firms recently weighed in on AM. The Goldman Sachs Group boosted their target price on Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Zacks Research downgraded shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Morgan Stanley boosted their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an "underweight" rating in a report on Wednesday, November 12th. Weiss Ratings raised shares of Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on shares of Antero Midstream from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $21.33.
View Our Latest Research Report on Antero Midstream
Institutional Investors Weigh In On Antero Midstream
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Richardson Financial Services Inc. boosted its position in Antero Midstream by 330.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company's stock valued at $25,000 after buying an additional 994 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Antero Midstream during the third quarter worth about $25,000. Quent Capital LLC bought a new stake in shares of Antero Midstream in the third quarter worth about $28,000. Elevation Wealth Partners LLC bought a new stake in shares of Antero Midstream in the fourth quarter worth about $27,000. Finally, Arax Advisory Partners increased its holdings in Antero Midstream by 83.9% during 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. 53.97% of the stock is currently owned by institutional investors.
About Antero Midstream
(
Get Free Report)
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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