Zacks Investment Research Downgrades Antero Midstream GP LP (NASDAQ:AMGP) to Sell

Zacks Investment Research cut shares of Antero Midstream GP LP (NASDAQ:AMGP) from a hold rating to a sell rating in a report published on Monday, August 7th.

According to Zacks, “Antero Midstream GP LP owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing segment and water handling and treatment segment. It offers gathering and compressions, water distribution, clearwater facility, fractionation and pipeline safety services. Antero Midstream GP LP is based in Denver, United States. “

Other analysts have also recently issued reports about the stock. Robert W. Baird set a $28.00 price objective on shares of Antero Midstream GP and gave the company a buy rating in a research note on Friday, June 16th. Scotiabank set a $25.00 price objective on shares of Antero Midstream GP and gave the company a hold rating in a research note on Friday, July 21st. Wells Fargo & Company assumed coverage on shares of Antero Midstream GP in a research note on Tuesday, May 30th. They set a market perform rating and a $23.00 price objective for the company. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Antero Midstream GP in a research note on Monday, May 29th. They set a buy rating and a $29.00 price objective for the company. Finally, Raymond James Financial, Inc. assumed coverage on shares of Antero Midstream GP in a research note on Tuesday, May 30th. They set a strong-buy rating and a $26.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Antero Midstream GP has an average rating of Buy and an average price target of $26.73.

Antero Midstream GP (NASDAQ:AMGP) traded down 0.60% during trading on Monday, reaching $18.37. The company had a trading volume of 240,591 shares. The firm has a 50-day moving average of $20.95 and a 200-day moving average of $21.33. The stock has a market capitalization of $3.42 billion and a price-to-earnings ratio of 633.45. Antero Midstream GP has a 1-year low of $18.12 and a 1-year high of $27.74.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Thursday, August 3rd will be given a dividend of $0.027 per share. The ex-dividend date is Tuesday, August 1st. This represents a $0.11 dividend on an annualized basis and a yield of 0.59%.

A number of hedge funds have recently made changes to their positions in AMGP. Warburg Pincus LLC acquired a new stake in shares of Antero Midstream GP during the second quarter worth $1,211,309,000. Goldman Sachs Group Inc. acquired a new stake in shares of Antero Midstream GP during the second quarter worth $126,613,000. Tortoise Capital Advisors L.L.C. acquired a new stake in shares of Antero Midstream GP during the second quarter worth $90,757,000. Jennison Associates LLC acquired a new stake in shares of Antero Midstream GP during the second quarter worth $38,645,000. Finally, Eagle Global Advisors LLC acquired a new stake in shares of Antero Midstream GP during the second quarter worth $35,061,000.

About Antero Midstream GP

Antero Midstream GP LP, formerly Antero Resources Midstream Management LLC, owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing and water handling and treatment. The gathering and processing segment consist of long-term, fee-based activities including low-pressure gathering, compression, high-pressure gathering, processing, fractionation, and condensate gathering.

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