Antero Midstream (NYSE:AM) Hits New 52-Week High at $15.23

Antero Midstream Co. (NYSE:AM - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.23 and last traded at $15.23, with a volume of 1612 shares traded. The stock had previously closed at $15.16.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AM. Morgan Stanley raised their price target on Antero Midstream from $15.00 to $16.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 27th. StockNews.com downgraded Antero Midstream from a "buy" rating to a "hold" rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Antero Midstream has an average rating of "Hold" and an average target price of $13.88.

Antero Midstream Stock Performance

The firm has a market capitalization of $7.27 billion, a P/E ratio of 18.96 and a beta of 2.34. The firm has a 50-day moving average price of $14.50 and a two-hundred day moving average price of $14.36. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.89 and a quick ratio of 0.89.

Antero Midstream (NYSE:AM - Get Free Report) last released its earnings results on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). Antero Midstream had a return on equity of 19.40% and a net margin of 36.19%. The business had revenue of $269.70 million for the quarter, compared to the consensus estimate of $274.66 million. During the same quarter last year, the business posted $0.22 earnings per share. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts forecast that Antero Midstream Co. will post 0.85 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.90 annualized dividend and a dividend yield of 5.96%. Antero Midstream's dividend payout ratio (DPR) is 112.50%.

Insider Transactions at Antero Midstream

In other news, insider Sheri Pearce sold 23,518 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total transaction of $343,127.62. Following the transaction, the insider now owns 130,349 shares in the company, valued at $1,901,791.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company's stock.

Hedge Funds Weigh In On Antero Midstream

Several institutional investors have recently made changes to their positions in AM. Norges Bank purchased a new position in shares of Antero Midstream during the fourth quarter valued at $54,704,000. Millennium Management LLC increased its stake in shares of Antero Midstream by 314.6% during the second quarter. Millennium Management LLC now owns 1,862,900 shares of the pipeline company's stock valued at $27,459,000 after buying an additional 1,413,606 shares during the period. Westwood Holdings Group Inc. grew its stake in Antero Midstream by 46.6% in the first quarter. Westwood Holdings Group Inc. now owns 3,174,399 shares of the pipeline company's stock valued at $44,632,000 after purchasing an additional 1,008,515 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in Antero Midstream by 30.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,959,243 shares of the pipeline company's stock valued at $41,607,000 after purchasing an additional 694,243 shares during the last quarter. Finally, SIR Capital Management L.P. purchased a new position in Antero Midstream in the second quarter valued at about $8,251,000. Hedge funds and other institutional investors own 53.97% of the company's stock.

Antero Midstream Company Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. 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.