Antero Midstream Partners LP (AM) Downgraded to Strong Sell at Zacks Investment Research
Antero Midstream Partners LP (NYSE:AM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday.
According to Zacks, “Antero Midstream Partners LP is formed to own, operate and develop midstream energy properties. The Company’s assets consist of gathering pipelines, compressor stations and fresh water distribution systems. Its Gathering and Compression segment collects and transports natural gas through a network of gathering pipelines and compressor stations. The Fresh Water Distribution segment sources and delivers fresh water for the well completion operations through two independent fresh water distribution systems. Its projects are located in the southwestern core of the Marcellus Shale in northwest West Virginia and the Utica Shale in southern Ohio. Antero Midstream Partners LP is based in Denver, Colorado. “
Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Antero Midstream Partners from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub upgraded shares of Antero Midstream Partners from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. TheStreet lowered shares of Antero Midstream Partners from a “b” rating to a “c+” rating in a report on Tuesday, August 22nd. Stifel Nicolaus raised Antero Midstream Partners from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, August 15th. Finally, Scotiabank set a $44.00 target price on Antero Midstream Partners and gave the stock a “buy” rating in a research note on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $38.50.
Antero Midstream Partners (NYSE:AM) traded up 0.44% during midday trading on Tuesday, reaching $31.74. The company had a trading volume of 379,947 shares. Antero Midstream Partners has a one year low of $25.93 and a one year high of $35.74. The company has a 50-day moving average price of $31.83 and a 200-day moving average price of $33.01. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 21.56 and a beta of 1.92.
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In related news, major shareholder Resources Corp Antero sold 10,000,000 shares of Antero Midstream Partners stock in a transaction that occurred on 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 sale, the insider now directly owns 98,870,335 shares in the company, valued at $3,075,856,121.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 7.91% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of AM. Russell Investments Group Ltd. bought a new position in Antero Midstream Partners in the first quarter worth $3,702,000. BNP Paribas Arbitrage SA bought a new stake in shares of Antero Midstream Partners during the 1st quarter valued at $330,000. Ameriprise Financial Inc. bought a new stake in shares of Antero Midstream Partners during the 1st quarter valued at $484,000. Keybank National Association OH boosted its holdings in shares of Antero Midstream Partners by 6.2% during the 1st quarter. Keybank National Association OH now owns 7,430 shares of the pipeline company’s stock valued at $246,000 after buying an additional 435 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Antero Midstream Partners by 26.8% during the 1st quarter. JPMorgan Chase & Co. now owns 1,526,482 shares of the pipeline company’s stock valued at $50,618,000 after buying an additional 322,457 shares in the last quarter. Institutional investors and hedge funds 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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