Antero Midstream (NYSE:AM) Hits New 52-Week High – Time to Buy?

Antero Midstream Co. (NYSE:AM)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.94 and last traded at $15.88, with a volume of 54659 shares. The stock had previously closed at $15.75.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AM. StockNews.com raised Antero Midstream from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley boosted their price target on Antero Midstream from $15.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, August 27th.

Antero Midstream Stock Performance

The firm’s 50 day moving average is $15.25 and its 200-day moving average is $14.79. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 19.44 and a beta of 2.35. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.09.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a $0.225 dividend. The ex-dividend date was Wednesday, October 23rd. This represents a $0.90 dividend on an annualized basis and a yield of 5.65%. Antero Midstream’s payout ratio is 111.11%.

Insider Transactions at Antero Midstream

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 directly owns 74,100 shares in the company, valued at approximately $1,086,306. The trade was a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Antero Midstream

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC purchased a new position in Antero Midstream in the 3rd quarter worth approximately $38,000. Blue Trust Inc. boosted its stake in Antero Midstream by 149.4% during the third quarter. Blue Trust Inc. now owns 3,100 shares of the pipeline company’s stock worth $46,000 after buying an additional 1,857 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Antero Midstream in the 3rd quarter valued at $48,000. City State Bank purchased a new position in shares of Antero Midstream during the 2nd quarter worth $51,000. Finally, First Horizon Advisors Inc. boosted its position in shares of Antero Midstream by 24.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company’s stock valued at $52,000 after acquiring an additional 688 shares during the last quarter. 53.97% of the stock is 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.