Antero Midstream GP (NYSE:AMGP) had its price target cut by equities researchers at Morgan Stanley from $26.00 to $24.00 in a report released on Friday, March 16th. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 53.06% from the stock’s previous close.
AMGP has been the subject of a number of other research reports. Credit Suisse Group started coverage on Antero Midstream GP in a report on Thursday, January 4th. They set a “neutral” rating and a $21.00 price target for the company. Zacks Investment Research upgraded Antero Midstream GP from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Monday, January 8th. Goldman Sachs upgraded Antero Midstream GP from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Friday, January 5th. Tudor Pickering began coverage on Antero Midstream GP in a research report on Tuesday, February 20th. They set a “hold” rating and a $22.00 price objective on the stock. Finally, Robert W. Baird set a $36.00 price target on Antero Midstream GP and gave the company a “buy” rating in a research report on Monday, December 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Antero Midstream GP has an average rating of “Buy” and an average target price of $25.28.
AMGP traded down $0.28 during trading on Friday, hitting $15.68. The stock had a trading volume of 475,003 shares, compared to its average volume of 488,319. The company has a market capitalization of $2,971.59 and a PE ratio of 522.67. Antero Midstream GP has a one year low of $14.85 and a one year high of $22.87.
Antero Midstream GP (NYSE:AMGP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). The company had revenue of $23.77 million during the quarter, compared to analyst estimates of $23.76 million. Antero Midstream GP had a net margin of 4.58% and a return on equity of 22.05%. sell-side analysts predict that Antero Midstream GP will post 0.54 EPS for the current year.
In other news, insider Kevin J. Kilstrom sold 50,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $20.36, for a total value of $1,018,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. increased its position in shares of Antero Midstream GP by 21.4% during the fourth quarter. OppenheimerFunds Inc. now owns 7,345,428 shares of the company’s stock valued at $144,852,000 after acquiring an additional 1,293,282 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Antero Midstream GP by 14.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,597,648 shares of the company’s stock valued at $130,105,000 after purchasing an additional 856,886 shares during the period. Yale University grew its holdings in Antero Midstream GP by 3.9% during the third quarter. Yale University now owns 5,769,780 shares of the company’s stock valued at $118,107,000 after purchasing an additional 216,144 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in Antero Midstream GP by 4.2% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 4,302,725 shares of the company’s stock valued at $88,077,000 after purchasing an additional 173,650 shares during the period. Finally, Cohen & Steers Inc. grew its holdings in Antero Midstream GP by 59.0% during the third quarter. Cohen & Steers Inc. now owns 3,135,115 shares of the company’s stock valued at $64,176,000 after purchasing an additional 1,163,246 shares during the period. 72.97% of the stock is owned by hedge funds and other institutional investors.
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About Antero Midstream GP
Antero Midstream GP LP, formerly Antero Resources Midstream Management LLC, owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing and water handling and treatment. The gathering and processing segment consist of long-term, fee-based activities including low-pressure gathering, compression, high-pressure gathering, processing, fractionation, and condensate gathering.
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