Antero Midstream (NYSE:AM) Upgraded at Morgan Stanley

Antero Midstream (NYSE:AM) was upgraded by equities research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $26.00 price objective on the pipeline company’s stock. Morgan Stanley’s target price would indicate a potential upside of 25.93% from the stock’s current price.

AM has been the topic of several other research reports. UBS Group lifted their price objective on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 25th. Wells Fargo & Company boosted their price objective on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. The Goldman Sachs Group boosted their price objective on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Antero Midstream currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Antero Midstream Trading Down 1.1%

NYSE:AM opened at $20.65 on Wednesday. Antero Midstream has a 1-year low of $16.24 and a 1-year high of $23.83. The business’s 50-day moving average price is $22.29 and its two-hundred day moving average price is $19.56. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $9.77 billion, a price-to-earnings ratio of 24.01 and a beta of 0.75.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, February 11th. The pipeline company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The company had revenue of $297.00 million during the quarter, compared to analyst estimates of $292.46 million. During the same period in the previous year, the company posted $0.23 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Antero Midstream will post 1.14 earnings per share for the current year.

Insider Transactions at Antero Midstream

In other news, insider Sheri Pearce sold 14,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the transaction, the insider directly owned 99,900 shares of the company’s stock, valued at $2,273,724. This represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total value of $115,800.00. Following the transaction, the director directly owned 69,680 shares of the company’s stock, valued at $1,613,788.80. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 44,000 shares of company stock valued at $1,004,690 over the last three months. Company insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AM. Bank of New York Mellon Corp raised its stake in Antero Midstream by 22.3% in the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after buying an additional 1,430,138 shares during the period. Oppenheimer & Co. Inc. raised its stake in Antero Midstream by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock valued at $9,812,000 after buying an additional 146,300 shares during the period. American Century Companies Inc. raised its stake in Antero Midstream by 21.0% in the third quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock valued at $59,913,000 after buying an additional 535,245 shares during the period. Chickasaw Capital Management LLC raised its stake in Antero Midstream by 11.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,409,183 shares of the pipeline company’s stock valued at $25,069,000 after buying an additional 147,250 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Antero Midstream in the third quarter valued at approximately $2,676,000. 53.97% of the stock is owned by institutional investors and hedge funds.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.