Antero Midstream (NYSE:AM) Rating Lowered to Market Perform at Wells Fargo & Co

Wells Fargo & Co downgraded shares of Antero Midstream (NYSE:AM) from an outperform rating to a market perform rating in a report released on Wednesday, Briefing.com Automated Import reports. The brokerage currently has $8.00 target price on the pipeline company’s stock, down from their prior target price of $10.00.

Other research analysts also recently issued reports about the company. ValuEngine downgraded Antero Midstream from a hold rating to a sell rating in a research note on Friday, November 1st. Robert W. Baird reduced their price objective on Antero Midstream from $15.00 to $9.00 and set an outperform rating for the company in a research note on Monday, September 9th. Mitsubishi UFJ Financial Group downgraded Antero Midstream from an overweight rating to a neutral rating and reduced their price objective for the company from $17.00 to $13.00 in a research note on Friday, August 2nd. Stifel Nicolaus downgraded Antero Midstream from a buy rating to a hold rating and reduced their price objective for the company from $14.00 to $11.00 in a research note on Thursday, August 1st. Finally, Raymond James downgraded Antero Midstream from an outperform rating to a market perform rating in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $13.10.

NYSE AM traded down $0.26 during mid-day trading on Wednesday, hitting $6.16. The stock had a trading volume of 5,846,263 shares, compared to its average volume of 4,748,267. The firm’s 50 day moving average is $7.19 and its 200 day moving average is $9.68. Antero Midstream has a twelve month low of $6.10 and a twelve month high of $15.45. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.42 and a quick ratio of 0.42. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.49 and a beta of 1.29.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Tuesday, October 29th. The pipeline company reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.19. Antero Midstream had a positive return on equity of 13.53% and a negative net margin of 32.31%. The firm had revenue of $243.80 million during the quarter, compared to the consensus estimate of $269.56 million. The firm’s quarterly revenue was up 544.6% on a year-over-year basis. As a group, equities research analysts expect that Antero Midstream will post 0.82 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Friday, November 1st will be issued a $0.308 dividend. This represents a $1.23 annualized dividend and a yield of 20.00%. The ex-dividend date is Thursday, October 31st. Antero Midstream’s payout ratio is currently 372.73%.

In other Antero Midstream news, Director W Howard Keenan, Jr. sold 2,855,848 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $6.81, for a total value of $19,448,324.88. Also, insider K. Phil Yoo sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.97, for a total value of $104,550.00. Following the completion of the sale, the insider now owns 301,955 shares of the company’s stock, valued at $2,104,626.35. The disclosure for this sale can be found here. 7.91% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AM. Chickasaw Capital Management LLC purchased a new position in shares of Antero Midstream during the 3rd quarter worth $107,841,000. Kayne Anderson Capital Advisors LP purchased a new position in Antero Midstream during the 3rd quarter valued at about $40,222,000. Duff & Phelps Investment Management Co. purchased a new position in Antero Midstream during the 3rd quarter valued at about $26,865,000. Northwestern Mutual Investment Management Company LLC purchased a new position in Antero Midstream during the 3rd quarter valued at about $12,309,000. Finally, Cadence Capital Management LLC purchased a new position in Antero Midstream during the 3rd quarter valued at about $520,000. Institutional investors and hedge funds own 55.10% of the company’s stock.

Antero Midstream Company Profile

Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.

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Analyst Recommendations for Antero Midstream (NYSE:AM)

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