Key Points
- Insider sale: Director Brooks Klimley sold 5,000 shares on March 12 at an average of $23.16 for $115,800, trimming his holding to 69,680 shares (a 6.7% decrease).
- Quarterly results and dividend: Antero reported $0.28 EPS vs. $0.24 expected and $297M revenue, and paid a $0.225 quarterly dividend ($0.90 annualized) with a yield of ~3.9% and a payout ratio of 104.65%.
- Stock and analyst snapshot: AM trades near $23 (close to its 12‑month high), has a market cap of ~$10.91B and a PE of 26.8, and carries a consensus "Hold" rating with an average price target of $22.
Antero Midstream Corporation (NYSE:AM - Get Free Report) Director Brooks Klimley sold 5,000 shares of the company's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the transaction, the director directly owned 69,680 shares of the company's stock, valued at $1,613,788.80. This represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Antero Midstream Price Performance
NYSE:AM traded up $0.22 on Friday, reaching $23.07. 1,244,285 shares of the company's stock traded hands, compared to its average volume of 2,929,979. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. The stock has a 50-day simple moving average of $20.00 and a 200-day simple moving average of $18.78. The firm has a market cap of $10.91 billion, a PE ratio of 26.83 and a beta of 0.77. Antero Midstream Corporation has a 12 month low of $15.07 and a 12 month high of $23.34.
Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm had revenue of $297.00 million during the quarter, compared to analyst estimates of $292.46 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The business's quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.
Antero Midstream Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, January 28th. Antero Midstream's dividend payout ratio is presently 104.65%.
Hedge Funds Weigh In On Antero Midstream
A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada raised its stake in shares of Antero Midstream by 0.8% during the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company's stock valued at $3,256,000 after acquiring an additional 1,371 shares in the last quarter. AQR Capital Management LLC grew its stake in Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company's stock worth $1,508,000 after purchasing an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock worth $69,739,000 after purchasing an additional 1,400,368 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Antero Midstream by 4.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company's stock valued at $17,029,000 after purchasing an additional 43,335 shares in the last quarter. Finally, Metis Global Partners LLC lifted its holdings in shares of Antero Midstream by 5.2% in the 2nd quarter. Metis Global Partners LLC now owns 21,925 shares of the pipeline company's stock worth $415,000 after buying an additional 1,086 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have commented on AM. The Goldman Sachs Group boosted their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded shares of Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, March 6th. Wells Fargo & Company upped their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Zacks Research lowered shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $22.00.
Check Out Our Latest Analysis on Antero Midstream
Antero Midstream Company Profile
(
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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