Antero Midstream (NYSE:AM) Lowered to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company cut shares of Antero Midstream (NYSE:AM) from an overweight rating to an equal weight rating in a report issued on Wednesday morning, MarketBeat.com reports. They currently have $16.00 price target on the pipeline company’s stock.

AM has been the topic of a number of other reports. StockNews.com raised Antero Midstream from a “hold” rating to a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley upped their price target on Antero Midstream from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, August 27th.

Antero Midstream Price Performance

Shares of Antero Midstream stock opened at $14.22 on Wednesday. The firm has a fifty day moving average price of $15.21 and a two-hundred day moving average price of $14.85. The company has a market cap of $6.84 billion, a PE ratio of 17.56 and a beta of 2.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.09 and a quick ratio of 1.09. Antero Midstream has a fifty-two week low of $11.58 and a fifty-two week high of $16.00.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date was Wednesday, October 23rd. Antero Midstream’s dividend payout ratio (DPR) is currently 111.11%.

Insider Activity at Antero Midstream

In related news, Director Brooks J. Klimley sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $14.66, for a total transaction of $146,600.00. Following the sale, the director now owns 74,100 shares of the company’s stock, valued at approximately $1,086,306. This trade represents a 11.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Antero Midstream

Several institutional investors have recently bought and sold shares of the company. State Street Corp grew its stake in Antero Midstream by 1.5% in the third quarter. State Street Corp now owns 11,086,787 shares of the pipeline company’s stock valued at $166,856,000 after purchasing an additional 160,593 shares in the last quarter. Geode Capital Management LLC increased its holdings in Antero Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 6,081,501 shares of the pipeline company’s stock worth $91,549,000 after buying an additional 251,987 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in Antero Midstream by 3.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 5,578,584 shares of the pipeline company’s stock valued at $82,228,000 after acquiring an additional 199,625 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Antero Midstream by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,790,528 shares of the pipeline company’s stock valued at $57,047,000 after acquiring an additional 22,936 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in Antero Midstream by 5.8% during the second quarter. Westwood Holdings Group Inc. now owns 3,359,310 shares of the pipeline company’s stock worth $49,516,000 after purchasing an additional 184,911 shares during the period. Institutional investors own 53.97% of the company’s stock.

About Antero Midstream

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.