Antero Midstream GP (AMGP) Raised to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Antero Midstream GP (NYSE:AMGP) from a sell rating to a hold rating in a report issued on Tuesday.
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 a number of other reports. ValuEngine downgraded shares of Antero Midstream GP from a sell rating to a strong sell rating in a research note on Friday, May 4th. Seaport Global Securities downgraded shares of Antero Midstream GP from a buy rating to a neutral rating and dropped their target price for the stock from $26.00 to $16.00 in a research note on Monday, April 9th. Finally, Robert W. Baird restated a buy rating and issued a $26.00 target price on shares of Antero Midstream GP in a research note on Tuesday, April 10th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $22.33.
Antero Midstream GP (NYSE:AMGP) last issued its earnings results on Wednesday, August 1st. The company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.06). The company had revenue of $33.14 million during the quarter, compared to the consensus estimate of $33.39 million. Antero Midstream GP had a return on equity of 199.85% and a net margin of 32.91%. Antero Midstream GP’s revenue was up 116.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. sell-side analysts anticipate that Antero Midstream GP will post 0.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 22nd. Stockholders of record on Thursday, August 2nd will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, August 1st. This is a boost from Antero Midstream GP’s previous quarterly dividend of $0.11. Antero Midstream GP’s dividend payout ratio is presently 1,666.67%.
In other news, insider Kevin J. Kilstrom sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $18.07, for a total value of $903,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider K. Phil Yoo sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $19.45, for a total transaction of $97,250.00. The disclosure for this sale can be found here.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP lifted its position in shares of Antero Midstream GP by 73.0% in the 1st quarter. Quantbot Technologies LP now owns 7,460 shares of the company’s stock worth $119,000 after purchasing an additional 3,148 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Antero Midstream GP by 29.7% in the 1st quarter. Teacher Retirement System of Texas now owns 16,596 shares of the company’s stock worth $265,000 after purchasing an additional 3,804 shares during the period. Guggenheim Capital LLC lifted its position in shares of Antero Midstream GP by 8.8% in the 1st quarter. Guggenheim Capital LLC now owns 72,902 shares of the company’s stock worth $1,166,000 after purchasing an additional 5,888 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Antero Midstream GP by 52.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 29,000 shares of the company’s stock worth $547,000 after purchasing an additional 10,000 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of Antero Midstream GP in the 1st quarter worth approximately $167,000. 74.88% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Story: Price to Earnings Ratio (PE), For Valuing Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Antero Midstream GP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Antero Midstream GP and related companies with MarketBeat.com's FREE daily email newsletter.