Antero Midstream (NYSE:AM) Hits New 52-Week High – Still a Buy?

Antero Midstream Co. (NYSE:AM)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $18.60 and last traded at $18.31, with a volume of 135332 shares trading hands. The stock had previously closed at $18.07.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Antero Midstream from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. StockNews.com raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd.

Antero Midstream Price Performance

The stock has a market capitalization of $8.84 billion, a P/E ratio of 22.22 and a beta of 0.99. The business’s 50 day simple moving average is $17.18 and its two-hundred day simple moving average is $16.20. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.47.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $291.13 million during the quarter, compared to the consensus estimate of $277.79 million. Antero Midstream had a net margin of 36.24% and a return on equity of 18.82%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. As a group, sell-side analysts forecast that Antero Midstream Co. will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, April 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.88%. Antero Midstream’s dividend payout ratio is currently 103.45%.

Institutional Trading of Antero Midstream

Several institutional investors and hedge funds have recently made changes to their positions in AM. Wedmont Private Capital increased its holdings in Antero Midstream by 38.8% during the fourth quarter. Wedmont Private Capital now owns 23,398 shares of the pipeline company’s stock worth $362,000 after buying an additional 6,536 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Antero Midstream by 6.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 197,255 shares of the pipeline company’s stock worth $2,977,000 after buying an additional 12,571 shares during the last quarter. Financial Management Professionals Inc. boosted its position in Antero Midstream by 58.6% during the fourth quarter. Financial Management Professionals Inc. now owns 2,706 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 1,000 shares during the period. Atomi Financial Group Inc. increased its stake in shares of Antero Midstream by 7.9% in the fourth quarter. Atomi Financial Group Inc. now owns 33,787 shares of the pipeline company’s stock worth $510,000 after purchasing an additional 2,465 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in shares of Antero Midstream by 22.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 928,015 shares of the pipeline company’s stock worth $14,004,000 after purchasing an additional 171,730 shares in the last quarter. 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.