Antero Midstream Corporation (AM): Street Finally Waking Up


    The Vanguard Group, Inc. recently announced the acquisition of new stake in Antero Midstream Corporation (NYSE:AM). The institutional investor has increased its shareholding in the Energy company by 11.12% to 29.41 million shares with purchase of 2.94 million shares. This fresh investment now brings its stake to 6.17% valued currently at $166.75 million. In addition, Brookfield Public Securities Grou.. raised its holdings by 7.53 million to 7.55 million shares. And Brave Warrior Advisors LLC has lifted its position by 139.10% or 4.12 million shares – to 7.08 million shares.

    With over 5.51 million Antero Midstream Corporation (AM) shares trading Tuesday and a closing price of $6.43 on the day, the dollar volume was approximately $35.45 million. The shares have shown a negative weekly performance of -11.68% and its price on 09/01/20 lost nearly -5.02%. Currently, there are 476.84M common shares owned by the public and among those 305.09M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for AM have a consensus price objective of $6.86. The analysts have set the share’s price value over the next 12 months at a high of $11.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Antero Midstream Corporation stock is 3.10 for the next 12 months. The average price target is -0.78% below its last price level and a downside to the estimated low will see the stock lose -28.6% over that period. But an upside of 41.55% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.

    Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 1,683,670 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 89,456,179 shares.

    The top 3 mutual fund holders in Antero Midstream Corporation are Invesco Oppenheimer SteelPath MLP, Invesco Oppenheimer SteelPath MLP, and Tortoise MLP & Pipeline Fund. Invesco Oppenheimer SteelPath MLP owns 19.1 million shares of the company’s stock, all valued at over $108.29 million. The company sold -21.48 million shares recently to bring their total holdings to about 4.01% of the shares outstanding. Invesco Oppenheimer SteelPath MLP sold -9.06 million shares to see its total holdings shrink to 14.21 million shares valued at over $80.59 million and representing 2.98% of the shares outstanding. Tortoise MLP & Pipeline Fund sold -0.13 million shares to bring its total holdings to over 9.66 million shares at a value of $54.79 million. Tortoise MLP & Pipeline Fund now owns shares totaling to 2.03% of the shares outstanding.

    Shares of Antero Midstream Corporation (NYSE: AM) opened at $6.68, down -$0.09 from a prior closing price of $6.77. However, the script later closed the day at $6.43, down -5.02%. The company’s stock has a 5-day price change of -11.68% and 23.65% over the past three months. AM shares are trading -15.28% year to date (YTD), with the 12-month market performance down to -7.48% lower. It has a 12-month low price of $1.69 and touched a high of $8.45 over the same period. Currently, 5.51 million shares have been traded, compared to an average intraday trading volume of 5.34 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -9.11%, 3.65%, and 24.99% respectively.

    Institutional ownership of Antero Midstream Corporation (NYSE: AM) shares accounts for 60.60% of the company’s 476.84M shares outstanding. Mutual fund holders own 31.03%, while other institutional holders and individual stakeholders account for 40.70% and 23.27% respectively.

    It has a market capitalization of $3.16B. The earnings-per-share (ttm) stands at -$1.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.97% over the week and 5.22% over the month.

    Analysts forecast that Antero Midstream Corporation (AM) will achieve an EPS of $0.21 for the current quarter, $0.22 for the next quarter and $0.93 for 2021. The lowest estimate earnings-per-share for the quarter is $0.15 while analysts give the company a high EPS estimate of $0.28. Comparatively, EPS for the current quarter was -$0.57 a year ago. Earnings per share for the fiscal year are expected to decrease by -343.70%, and 457.70% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Antero Midstream Corporation (AM) as a “Hold” at a consensus score of 3.10. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 6 of the 9 advise that investors “hold,” and 2 rated it as a “Sell.”

    Looking at the support for the AM, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on August 10, 2020, with the firm’s price target at $6. JP Morgan coverage for the Antero Midstream Corporation (AM) stock in a research note released on April 28, 2020 offered a Underweight rating with a price target of. Robert W. Baird was of a view on March 09, 2020 that the stock is Neutral, while Wells Fargo gave the stock Underweight rating on February 24, 2020, issuing a price target of $5. Wells Fargo on their part issued Market Perform rating on November 07, 2019.


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