Antero Midstream (NYSE:AM) Issues Quarterly Earnings Results

Antero Midstream (NYSE:AM) announced its quarterly earnings results on Wednesday. The pipeline company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27, FiscalAI reports. The company had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%.

Antero Midstream Stock Performance

Antero Midstream stock traded down $0.16 on Wednesday, reaching $21.59. 1,948,331 shares of the stock were exchanged, compared to its average volume of 2,635,639. The stock has a market cap of $10.26 billion, a PE ratio of 25.11 and a beta of 0.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. Antero Midstream has a twelve month low of $16.84 and a twelve month high of $23.83. The firm has a fifty day moving average price of $22.05 and a two-hundred day moving average price of $21.48.

Antero Midstream Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Transactions at Antero Midstream

In related news, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. The trade was a 6.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the transaction, the insider directly owned 580,565 shares of the company’s stock, valued at $12,714,373.50. This represents a 10.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Arax Advisory Partners boosted its position in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 791 shares during the period. Public Employees Retirement System of Ohio increased its position in Antero Midstream by 0.7% during the third quarter. Public Employees Retirement System of Ohio now owns 116,112 shares of the pipeline company’s stock worth $2,257,000 after acquiring an additional 833 shares during the period. Tidal Investments LLC increased its position in Antero Midstream by 3.7% during the second quarter. Tidal Investments LLC now owns 24,113 shares of the pipeline company’s stock worth $457,000 after acquiring an additional 856 shares during the period. Compound Planning Inc. raised its stake in Antero Midstream by 2.2% during the 4th quarter. Compound Planning Inc. now owns 40,551 shares of the pipeline company’s stock valued at $721,000 after purchasing an additional 857 shares during the last quarter. Finally, Glenmede Investment Management LP raised its stake in Antero Midstream by 1.2% during the 3rd quarter. Glenmede Investment Management LP now owns 77,757 shares of the pipeline company’s stock valued at $1,512,000 after purchasing an additional 896 shares during the last quarter. 53.97% of the stock is owned by institutional investors.

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.