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Antero Midstream (NYSE:AM) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

kopsource · Jul 29, 2022 14:22

Antero Midstream (NYSE:AM – Get Rating) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01), Fidelity Earnings reports. The business had revenue of $228.91 million during the quarter, compared to analyst estimates of $238.28 million. Antero Midstream had a net margin of 36.77% and a return on equity of 17.41%. Antero Midstream's revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share.

Antero Midstream Trading Up 2.3 %

Shares of Antero Midstream stock traded up $0.23 on Friday, hitting $10.08. The stock had a trading volume of 119,844 shares, compared to its average volume of 3,888,165. The firm has a market capitalization of $4.82 billion, a P/E ratio of 14.28 and a beta of 2.65. The stock has a 50 day moving average of $9.89 and a 200 day moving average of $10.18. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.58 and a current ratio of 0.58. Antero Midstream has a twelve month low of $8.42 and a twelve month high of $11.71.

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Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Wednesday, July 27th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 8.93%. The ex-dividend date of this dividend is Tuesday, July 26th. Antero Midstream's dividend payout ratio is currently 130.44%.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director W Howard Keenan, Jr. sold 242,868 shares of the stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $10.49, for a total transaction of $2,547,685.32. Following the transaction, the director now directly owns 114,555 shares in the company, valued at approximately $1,201,681.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Antero Midstream news, Director W Howard Keenan, Jr. sold 242,868 shares of the company's stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $10.49, for a total value of $2,547,685.32. Following the completion of the sale, the director now directly owns 114,555 shares of the company's stock, valued at approximately $1,201,681.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brendan E. Krueger purchased 3,000 shares of the company's stock in a transaction that occurred on Wednesday, May 4th. The shares were acquired at an average price of $10.54 per share, for a total transaction of $31,620.00. Following the completion of the purchase, the insider now directly owns 280,430 shares in the company, valued at approximately $2,955,732.20. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 865,620 shares of company stock valued at $8,963,071. 0.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Antero Midstream

Several institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC bought a new position in Antero Midstream during the 1st quarter valued at approximately $239,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Antero Midstream in the 1st quarter worth approximately $208,000. Mariner LLC purchased a new stake in shares of Antero Midstream in the 1st quarter worth approximately $207,000. Lavaca Capital LLC purchased a new stake in Antero Midstream during the 1st quarter valued at $196,000. Finally, First Republic Investment Management Inc. purchased a new stake in Antero Midstream during the 1st quarter valued at $181,000. Institutional investors own 53.92% of the company's stock.

Analyst Upgrades and Downgrades

AM has been the subject of several analyst reports. StockNews.com assumed coverage on shares of Antero Midstream in a research note on Thursday, March 31st. They issued a "hold" rating for the company. Barclays dropped their target price on shares of Antero Midstream from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Wednesday, July 20th. Wells Fargo & Company raised Antero Midstream from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $12.00 to $13.00 in a research note on Thursday, April 28th. Finally, TheStreet cut Antero Midstream from a "b-" rating to a "c" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Antero Midstream presently has an average rating of "Hold" and a consensus price target of $11.00.

Antero Midstream Company Profile

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Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. It operates through Gathering and Processing, and Water Handling segments. 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.