Antero Midstream (NYSE:AM) Hits New 52-Week High – Here’s Why

Antero Midstream Co. (NYSE:AM) reached a new 52-week high on Friday . The stock traded as high as $15.94 and last traded at $15.88, with a volume of 54659 shares changing hands. The stock had previously closed at $15.75.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. StockNews.com upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley upped their target price on shares of Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 27th.

Antero Midstream Trading Up 1.4 %

The company has a fifty day simple moving average of $15.28 and a two-hundred day simple moving average of $14.80. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49. The company has a market cap of $7.69 billion, a PE ratio of 19.72 and a beta of 2.35.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.64%. The ex-dividend date of this dividend was Wednesday, October 23rd. Antero Midstream’s dividend payout ratio (DPR) is presently 111.11%.

Insider Activity

In related news, Director Brooks J. Klimley sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 74,100 shares in the company, valued at $1,086,306. The trade was a 11.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in shares of Antero Midstream by 314.6% during the second quarter. Millennium Management LLC now owns 1,862,900 shares of the pipeline company’s stock worth $27,459,000 after purchasing an additional 1,413,606 shares in the last quarter. FMR LLC increased its position in Antero Midstream by 121.9% during the third quarter. FMR LLC now owns 1,092,755 shares of the pipeline company’s stock worth $16,446,000 after buying an additional 600,208 shares during the period. SIR Capital Management L.P. purchased a new stake in Antero Midstream in the second quarter valued at approximately $8,251,000. SG Americas Securities LLC boosted its holdings in shares of Antero Midstream by 1,141.2% in the third quarter. SG Americas Securities LLC now owns 470,743 shares of the pipeline company’s stock valued at $7,085,000 after acquiring an additional 432,817 shares during the period. Finally, Oppenheimer & Co. Inc. grew its position in shares of Antero Midstream by 74.5% during the third quarter. Oppenheimer & Co. Inc. now owns 686,933 shares of the pipeline company’s stock worth $10,338,000 after acquiring an additional 293,238 shares during the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

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.