Antero Midstream GP (AMGP) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Antero Midstream GP (NYSE:AMGP) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

According to Zacks, “Antero Midstream GP LP owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing segment and water handling and treatment segment. It offers gathering and compressions, water distribution, clearwater facility, fractionation and pipeline safety services. Antero Midstream GP LP is based in Denver, United States. “

A number of other research analysts have also recently commented on AMGP. Goldman Sachs Group raised shares of Antero Midstream GP from a neutral rating to a buy rating and set a $27.00 target price on the stock in a research report on Friday, January 5th. Scotiabank reissued a hold rating and set a $24.00 price target on shares of Antero Midstream GP in a research report on Wednesday, October 4th. Credit Suisse Group assumed coverage on shares of Antero Midstream GP in a research report on Thursday, January 4th. They set a neutral rating and a $21.00 price target on the stock. Robert W. Baird set a $36.00 price target on shares of Antero Midstream GP and gave the stock a buy rating in a research report on Monday, December 25th. Finally, Seaport Global Securities assumed coverage on shares of Antero Midstream GP in a research report on Tuesday, October 10th. They set a buy rating and a $26.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $26.18.

Antero Midstream GP (AMGP) traded up $0.09 during midday trading on Wednesday, reaching $21.04. 798,455 shares of the company’s stock were exchanged, compared to its average volume of 1,486,464. Antero Midstream GP has a 52 week low of $16.62 and a 52 week high of $22.87.

Antero Midstream GP (NYSE:AMGP) last posted its earnings results on Wednesday, November 1st. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.04). Antero Midstream GP had a net margin of 4.41% and a return on equity of 17.95%. The company had revenue of $19.07 million during the quarter, compared to analyst estimates of $19.44 million. equities research analysts forecast that Antero Midstream GP will post 0.18 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in AMGP. Neuberger Berman Group LLC purchased a new stake in shares of Antero Midstream GP during the second quarter worth approximately $497,000. JPMorgan Chase & Co. purchased a new stake in shares of Antero Midstream GP during the second quarter worth approximately $462,000. Wells Fargo & Company MN purchased a new stake in shares of Antero Midstream GP during the second quarter worth approximately $255,000. Artisan Partners Limited Partnership purchased a new stake in shares of Antero Midstream GP during the second quarter worth approximately $12,415,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Antero Midstream GP during the second quarter worth approximately $2,354,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.

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Antero Midstream GP Company Profile

Antero Midstream GP LP, formerly Antero Resources Midstream Management LLC, owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing and water handling and treatment. The gathering and processing segment consist of long-term, fee-based activities including low-pressure gathering, compression, high-pressure gathering, processing, fractionation, and condensate gathering.

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