Antero Midstream (NYSE:AM) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Antero Midstream (NYSE:AM) from a sell rating to a buy rating in a report released on Monday morning, Zacks.com reports. Zacks Investment Research currently has $13.00 price objective on the pipeline company’s stock.
According to Zacks, “Antero Midstream Corporation generates stable fee-based revenues under long-term contracts for providing customized and integrated midstream services to leading natural gas producer — Antero Resources Corporation. Notably, since there is growing demand for midstream infrastructures to support the surging natural gas volumes, Antero Midstream — with $2 billion of organic project backlog — is well positioned to capitalize on this. Moreover, the firm recently cheered investors with the announcement of the first-ever dividend after Antero Midstream GP LP completed buyout of Antero Midstream Partners LP. But the company’s balance sheet reflects weakness, which can constrain the company’s financial flexibility. Also, the dampening natural gas price estimates will likely upset production, in turn, affect midstream demand. “
Several other brokerages have also commented on AM. Raymond James began coverage on shares of Solar Capital in a research note on Tuesday, April 16th. They set an outperform rating and a $22.50 price target on the stock. ValuEngine upgraded shares of Alleghany from a hold rating to a buy rating in a research note on Friday, April 19th. Citigroup set a $73.00 price target on shares of Esperion Therapeutics and gave the stock a buy rating in a research note on Tuesday, May 28th. Capital One Financial reiterated an equal weight rating on shares of Antero Midstream in a research note on Friday, March 22nd. Finally, Barclays reiterated a buy rating on shares of Ultragenyx Pharmaceutical in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Antero Midstream has a consensus rating of Hold and an average target price of $26.11.
Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Wednesday, May 1st. The pipeline company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.11). Antero Midstream had a net margin of 35.14% and a return on equity of 14.35%. The firm had revenue of $265.80 million during the quarter, compared to analyst estimates of $287.06 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. Antero Midstream’s revenue for the quarter was up 20.2% compared to the same quarter last year. Equities research analysts expect that Antero Midstream will post 0.85 EPS for the current year.
In other Antero Midstream news, Director Yorktown Viii Associates Llc sold 1,825,600 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $12.61, for a total transaction of $23,020,816.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider K. Phil Yoo sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $13.17, for a total transaction of $263,400.00. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of AM. HITE Hedge Asset Management LLC purchased a new stake in shares of Antero Midstream in the first quarter valued at about $14,162,000. Barclays PLC boosted its holdings in shares of Antero Midstream by 2.7% in the fourth quarter. Barclays PLC now owns 806,948 shares of the pipeline company’s stock valued at $17,261,000 after acquiring an additional 21,455 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Antero Midstream by 13.3% in the fourth quarter. BlackRock Inc. now owns 697,607 shares of the pipeline company’s stock valued at $14,922,000 after acquiring an additional 82,131 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Antero Midstream by 15.3% in the fourth quarter. Deutsche Bank AG now owns 597,234 shares of the pipeline company’s stock valued at $12,774,000 after acquiring an additional 79,115 shares in the last quarter. Finally, Zimmer Partners LP boosted its holdings in shares of Antero Midstream by 3.3% in the fourth quarter. Zimmer Partners LP now owns 239,842 shares of the pipeline company’s stock valued at $5,130,000 after acquiring an additional 7,635 shares in the last quarter. 58.03% of the stock is currently owned by institutional investors.
About Antero Midstream
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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