Antero Midstream Corporation (NYSE: AM): To Buy Or Not To Buy, That Is The Question

GLBE Stock
GLBE Stock

The Vanguard Group, Inc. has recently announced that it has increased stake in Antero Midstream Corporation (NYSE:AM) by 11.12%. After grabbing 29.41 million shares, the institutional investor is now in possession of 2.94 million shares of the Energy Company. The new investment brought the stake of investor firm to 6.17% having worth around $166.75 million. Moreover, Brookfield Public Securities Grou.. increased its share by 7.53 million to have a control over 7.55 million shares. And Brave Warrior Advisors LLC raised its holdings to 4.12 million shares by acquiring 7.08 million shares or 1.49% of the stake.

Antero Midstream Corporation (AM) concluded trading on 08/26/20 at a closing price of $6.95, with 3.79 million shares of worth about $26.35 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -4.92% during that period and on Wednesday the price saw a loss of about -4.53%. Currently the company’s common shares owned by public are about 476.84M shares, out of which, 305.09M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the AM stock and their offered price forecasts bring an average price target of $6.71. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $11.00 and could fall to a lowest price of $5.00. Analysts also issued an outlook of 3.10 for the Antero Midstream Corporation stock for next 12 months. The stock’s current price level is -11.2% below of average price target set by the analysts, while a dip to estimated low would result in loss of -39.0 for the stock. However, touching the estimated high of $11.00 would mean a gain of 36.82% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 51 times over the past 12 months. They bought 1,683,670 shares in 27 of the transactions. In 24 selling transactions, insiders dumped 89,456,179 shares.

Invesco Oppenheimer SteelPath MLP, Invesco Oppenheimer SteelPath MLP, and Tortoise MLP & Pipeline Fund are the top 3 mutual funds which are holding stakes in Antero Midstream Corporation Invesco Oppenheimer SteelPath MLP is currently holding 19.1 million shares of worth totaling $108.29 million. The company recently came selling -21.48 million shares which brought its stake up to 4.01% of the company’s outstanding shares. Invesco Oppenheimer SteelPath MLP sold -9.06 million shares, after which its hold over company’s outstanding shares shrunk to 2.98%, leaving 14.21 million shares with the mutual fund that have a worth of about $80.59 million. Tortoise MLP & Pipeline Fund, after selling 9.66 million shares, have now control over 2.03% of the stake in the company. It holds -0.13 million shares of worth $54.79 million.

Antero Midstream Corporation (NYSE: AM) started trading at $7.27, below -$0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $6.95, or with a loss of -4.53%. Stock saw a price change of -4.92% in past 5 days and over the past one month there was a price change of 19.01%. Year-to-date (YTD), AM shares are showing a performance of -8.43% which increased to 2.21% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.69 but also hit the highest price of $8.45 during that period. While comparing its average daily trading volume of 5.38 million shares, we see that about 3.79 million changed hands on the day. The stock is currently trading 1.45% above its 20-day simple moving average (SMA20), while that difference is up 13.44% for SMA50 and it goes to 35.66% higher than SMA200.

The Vanguard Group, Inc. acquired 29.41 million shares of Antero Midstream Corporation having value of about $166.75 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 2.94 million shares in the company valued at close to $20457533.5, or have control over 11.12% stake in the company. Antero Midstream Corporation (NYSE: AM) currently have 476.84M outstanding shares and institutions hold larger chunk of about 60.60% of that. Holding of mutual funds in the company is about 31.46% while other institutional holders and individual stake holders have control over 40.70% and 22.84% of the stake respectively.

The stock has a current market capitalization of $3.31B. It has posted earnings per share of -$1.49 in the same period. It has Quick Ratio of 1.00 while making debt-to-equity ratio of 1.22. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AM, volatility over the week remained 3.47% while standing at 5.42% over the month.

Analysts are in expectations that Antero Midstream Corporation (AM) stock would likely to be making an EPS of $0.21 in the current quarter, while forecast for next quarter ESPS is $0.22 and it is $0.93 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.15 which is $0.28 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.57 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -343.70% while it is estimated to increase by 457.70% in next year.

Analysts at 9 brokerage firms have issued recommendations for the Antero Midstream Corporation (AM)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.10. Out of those 9 Wall Street analysts, 1 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by UBS on August 10, 2020 offering a Neutral rating for the stock and assigned a target price of $6 to it. Coverage by JP Morgan stated Antero Midstream Corporation (AM) stock as an Underweight in their note to investors on April 28, 2020, suggesting a price target of for the stock. On March 09, 2020, Robert W. Baird Downgrade their recommendations, while on February 24, 2020, Wells Fargo Downgrade their ratings for the stock with a price target of $5. Stock get a Market perform rating from Wells Fargo on November 07, 2019.


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