Seaport Global Securities assumed coverage on shares of Antero Midstream Partners LP (NYSE:AM) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $44.00 target price on the pipeline company’s stock. Seaport Global Securities also issued estimates for Antero Midstream Partners’ Q3 2017 earnings at $0.52 EPS, Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $1.75 EPS and FY2018 earnings at $2.08 EPS.
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Antero Midstream Partners from a hold rating to a strong sell rating in a research note on Tuesday, October 3rd. ValuEngine lowered Antero Midstream Partners from a buy rating to a hold rating in a research note on Monday, October 2nd. Robert W. Baird set a $42.00 price objective on Antero Midstream Partners and gave the stock a buy rating in a research note on Sunday, September 10th. Morgan Stanley reiterated an overweight rating on shares of Antero Midstream Partners in a research note on Tuesday, September 5th. Finally, BidaskClub upgraded Antero Midstream Partners from a sell rating to a hold rating in a research note on Saturday, August 26th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Antero Midstream Partners presently has an average rating of Buy and a consensus target price of $39.25.
Antero Midstream Partners (AM) opened at 31.39 on Tuesday. Antero Midstream Partners has a one year low of $27.01 and a one year high of $35.74. The stock has a market cap of $5.86 billion, a P/E ratio of 21.32 and a beta of 1.92. The company has a 50-day moving average price of $31.85 and a 200-day moving average price of $32.89.
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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Investors of record on Wednesday, November 1st will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 4.33%. This is a positive change from Antero Midstream Partners’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, October 31st. Antero Midstream Partners’s payout ratio is currently 86.49%.
In related news, major shareholder Resources Corp Antero sold 10,000,000 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $31.11, for a total transaction of $311,100,000.00. Following the transaction, the insider now directly owns 98,870,335 shares in the company, valued at $3,075,856,121.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.91% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in Antero Midstream Partners by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 5,347 shares of the pipeline company’s stock valued at $177,000 after acquiring an additional 410 shares during the period. Proficio Capital Partners LLC bought a new position in Antero Midstream Partners during the first quarter valued at about $230,000. Northern Trust Corp bought a new position in Antero Midstream Partners during the second quarter valued at about $245,000. Keybank National Association OH increased its stake in Antero Midstream Partners by 4.8% during the second quarter. Keybank National Association OH now owns 7,790 shares of the pipeline company’s stock valued at $258,000 after acquiring an additional 360 shares during the period. Finally, US Bancorp DE increased its stake in Antero Midstream Partners by 6.4% during the second quarter. US Bancorp DE now owns 8,108 shares of the pipeline company’s stock valued at $269,000 after acquiring an additional 488 shares during the period. Hedge funds and other institutional investors own 43.22% of the company’s stock.
About Antero Midstream Partners
Antero Midstream Partners LP is a limited partnership formed by Antero Resources Corporation (Antero Resources) to own, operate and develop midstream energy assets to service Antero Resources’ production. The Company’s segments include gathering and compression, and water handling and treatment. The gathering and compression segment includes a network of gathering pipelines, compressor stations, and processing and fractionation plants that collect and process natural gas, natural gas liquids (NGLs) and oil from Antero Resources’ wells in West Virginia and Ohio.
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