Zacks Investment Research upgraded shares of Antero Midstream GP (NYSE:AMGP) from a sell rating to a hold rating in a report released on Monday morning.
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. “
AMGP has been the topic of several other reports. ValuEngine downgraded Antero Midstream GP from a hold rating to a sell rating in a report on Saturday, September 1st. Stifel Nicolaus upgraded Antero Midstream GP to a buy rating and set a $35.00 target price on the stock in a report on Monday, August 27th. Wells Fargo & Co dropped their target price on Antero Midstream GP from $24.00 to $23.00 and set an outperform rating on the stock in a report on Thursday, August 9th. Barclays dropped their target price on Antero Midstream GP from $23.00 to $20.00 and set an equal weight rating on the stock in a report on Friday, October 12th. Finally, Credit Suisse Group initiated coverage on Antero Midstream GP in a report on Thursday, October 11th. They set a neutral rating and a $20.00 target price on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Antero Midstream GP currently has an average rating of Buy and a consensus price target of $21.45.
Antero Midstream GP (NYSE:AMGP) last announced its earnings results on Wednesday, August 1st. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). The company had revenue of $33.14 million for the quarter, compared to analysts’ expectations of $33.39 million. Antero Midstream GP had a net margin of 32.91% and a return on equity of 199.85%. The business’s quarterly revenue was up 116.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, research analysts predict that Antero Midstream GP will post 0.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Shareholders of record on Friday, November 2nd will be issued a dividend of $0.144 per share. The ex-dividend date is Thursday, November 1st. This is an increase from Antero Midstream GP’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 3.65%. Antero Midstream GP’s payout ratio is currently 1,666.67%.
In other Antero Midstream GP news, insider Kevin J. Kilstrom sold 50,000 shares of Antero Midstream GP stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $18.81, for a total transaction of $940,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider K. Phil Yoo sold 5,000 shares of Antero Midstream GP stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $16.76, for a total value of $83,800.00. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of AMGP. Carnick & Kubik Group LLC acquired a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $23,221,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $12,697,000. Kayne Anderson Capital Advisors LP acquired a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $10,694,000. Perella Weinberg Partners Capital Management LP grew its position in shares of Antero Midstream GP by 23.2% in the 2nd quarter. Perella Weinberg Partners Capital Management LP now owns 1,650,295 shares of the company’s stock worth $31,125,000 after acquiring an additional 311,084 shares in the last quarter. Finally, JJJ Advisors Inc. acquired a new position in shares of Antero Midstream GP in the 2nd quarter worth approximately $5,398,000. Institutional investors own 76.76% of the company’s stock.
Antero Midstream GP Company Profile
Antero Midstream GP LP owns, operates, and develops midstream energy assets in the Marcellus and Utica Shales in West Virginia and Ohio. Its assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants, and water handling and treatment assets, which provide midstream services to Antero Resources Corporation under long term fixed fee contracts.
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