Antero Midstream (NYSE:AM) Stock Price Down 1.5% Following Analyst Downgrade

Antero Midstream Corp (NYSE:AM)’s share price dropped 1.5% during trading on Friday after Raymond James lowered their price target on the stock from $17.00 to $13.00. Raymond James currently has an outperform rating on the stock. Antero Midstream traded as low as $8.20 and last traded at $8.30, approximately 83,490 shares were traded during trading. A decline of 98% from the average daily volume of 5,233,252 shares. The stock had previously closed at $8.43.

A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus cut Antero Midstream from a “buy” rating to a “hold” rating and lowered their target price for the stock from $14.00 to $11.00 in a report on Thursday. Barclays reiterated a “hold” rating and set a $16.00 target price on shares of Antero Midstream in a report on Thursday, May 9th. ValuEngine cut Antero Midstream from a “sell” rating to a “strong sell” rating in a report on Friday, July 19th. Zacks Investment Research upgraded Antero Midstream from a “sell” rating to a “buy” rating and set a $13.00 target price for the company in a report on Monday, July 8th. Finally, Mitsubishi UFJ Financial Group cut Antero Midstream from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $13.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.36.

In other news, Director Yorktown Viii Associates Llc sold 1,825,600 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $12.61, for a total value of $23,020,816.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider K. Phil Yoo sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $13.17, for a total value of $263,400.00. The disclosure for this sale can be found here. 7.91% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lee Financial Co bought a new position in shares of Antero Midstream in the 2nd quarter valued at about $61,000. Cypress Wealth Advisors LLC grew its holdings in Antero Midstream by 80.9% during the first quarter. Cypress Wealth Advisors LLC now owns 90,511 shares of the pipeline company’s stock worth $1,247,000 after purchasing an additional 40,486 shares during the period. JJJ Advisors Inc. grew its holdings in Antero Midstream by 4,661.9% during the first quarter. JJJ Advisors Inc. now owns 190,284 shares of the pipeline company’s stock worth $2,622,000 after purchasing an additional 186,288 shares during the period. Northern Trust Corp grew its holdings in Antero Midstream by 0.3% during the fourth quarter. Northern Trust Corp now owns 161,922 shares of the pipeline company’s stock worth $3,463,000 after purchasing an additional 512 shares during the period. Finally, Deutsche Bank AG grew its holdings in Antero Midstream by 15.3% during the fourth quarter. Deutsche Bank AG now owns 597,234 shares of the pipeline company’s stock worth $12,774,000 after purchasing an additional 79,115 shares during the period. Institutional investors own 58.75% of the company’s stock.

The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.99 and a current ratio of 0.49. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 1.79 and a beta of 1.20. The stock has a fifty day moving average price of $11.12.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Antero Midstream had a return on equity of 10.52% and a net margin of 29.31%. The business had revenue of $255.62 million for the quarter, compared to the consensus estimate of $283.69 million. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Antero Midstream Corp will post 0.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Friday, July 26th will be issued a dividend of $0.308 per share. The ex-dividend date is Thursday, July 25th. This represents a $1.23 dividend on an annualized basis and a yield of 14.79%. This is a boost from Antero Midstream’s previous quarterly dividend of $0.30. Antero Midstream’s dividend payout ratio (DPR) is presently 372.73%.

About Antero Midstream (NYSE:AM)

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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