Antero Midstream (NYSE:AM) Downgraded by StockNews.com to Hold

Antero Midstream (NYSE:AM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

Several other research firms have also recently weighed in on AM. The Goldman Sachs Group initiated coverage on Antero Midstream in a report on Thursday, October 5th. They set a “neutral” rating and a $12.50 price target for the company. UBS Group cut their price target on Antero Midstream from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Finally, Pickering Energy Partners initiated coverage on Antero Midstream in a report on Tuesday, October 3rd. They set an “outperform” rating for the company. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.30.

Antero Midstream Stock Performance

AM traded down $0.04 during midday trading on Monday, reaching $12.97. The company had a trading volume of 1,757,281 shares, compared to its average volume of 2,478,470. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.51. The business has a 50-day moving average of $12.27 and a two-hundred day moving average of $11.67. The company has a market cap of $6.22 billion, a P/E ratio of 17.77 and a beta of 2.38. Antero Midstream has a 1 year low of $9.56 and a 1 year high of $13.15.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, October 25th. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Antero Midstream had a return on equity of 18.98% and a net margin of 34.61%. The firm had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $256.23 million. As a group, equities research analysts predict that Antero Midstream will post 0.84 earnings per share for the current fiscal year.

Insider Transactions at Antero Midstream

In related news, Director Janine J. Mcardle purchased 6,011 shares of Antero Midstream stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average cost of $11.96 per share, with a total value of $71,891.56. Following the transaction, the director now owns 54,093 shares in the company, valued at approximately $646,952.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. HITE Hedge Asset Management LLC acquired a new position in Antero Midstream during the 1st quarter valued at about $8,724,000. Mackenzie Financial Corp increased its holdings in shares of Antero Midstream by 70.6% in the second quarter. Mackenzie Financial Corp now owns 278,913 shares of the pipeline company’s stock valued at $3,238,000 after purchasing an additional 115,433 shares during the period. Virtu Financial LLC acquired a new position in shares of Antero Midstream in the second quarter valued at about $117,000. Arizona State Retirement System increased its holdings in shares of Antero Midstream by 4.4% in the second quarter. Arizona State Retirement System now owns 94,103 shares of the pipeline company’s stock valued at $1,092,000 after purchasing an additional 3,985 shares during the period. Finally, Moors & Cabot Inc. increased its holdings in shares of Antero Midstream by 7.0% in the first quarter. Moors & Cabot Inc. now owns 24,851 shares of the pipeline company’s stock valued at $261,000 after purchasing an additional 1,625 shares during the period. 52.02% of the stock is owned by institutional investors and hedge funds.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure in the Appalachian Basin. It operates through Gathering and Processing, and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.