Antero Midstream GP (AMGP) Given New $20.00 Price Target at Barclays

Antero Midstream GP (NYSE:AMGP) had its price target decreased by Barclays from $23.00 to $20.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the stock. Barclays’ target price suggests a potential upside of 11.79% from the company’s current price.

AMGP has been the topic of several other research reports. Wells Fargo & Co dropped their price objective on shares of Antero Midstream GP from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, August 9th. ValuEngine upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Credit Suisse Group started coverage on shares of Antero Midstream GP in a research note on Thursday. They issued a “neutral” rating and a $20.00 price objective on the stock. Finally, Stifel Nicolaus upgraded shares of Antero Midstream GP to a “buy” rating and set a $35.00 price objective on the stock in a research note on Monday, August 27th. Six 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 “Buy” and an average target price of $21.45.

AMGP stock opened at $17.89 on Friday. Antero Midstream GP has a 52-week low of $14.85 and a 52-week high of $22.39. The company has a market cap of $3.15 billion, a PE ratio of 596.33 and a beta of 1.64.

Antero Midstream GP (NYSE:AMGP) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.06). Antero Midstream GP had a net margin of 32.91% and a return on equity of 199.85%. The firm had revenue of $33.14 million for the quarter, compared to analyst estimates of $33.39 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The firm’s revenue was up 116.2% compared to the same quarter last year. Analysts forecast that Antero Midstream GP will post 0.53 EPS for the current fiscal year.

In other Antero Midstream GP news, insider Kevin J. Kilstrom sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $18.81, for a total value of $940,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider K. Phil Yoo sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $16.76, for a total transaction of $83,800.00. The disclosure for this sale can be found here.

A number of hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas grew its position in Antero Midstream GP by 29.7% in the first quarter. Teacher Retirement System of Texas now owns 16,596 shares of the company’s stock worth $265,000 after acquiring an additional 3,804 shares in the last quarter. Guggenheim Capital LLC grew its position in Antero Midstream GP by 8.8% in the first quarter. Guggenheim Capital LLC now owns 72,902 shares of the company’s stock worth $1,166,000 after acquiring an additional 5,888 shares in the last quarter. Franklin Square Holdings L.P. grew its position in Antero Midstream GP by 20.0% in the second quarter. Franklin Square Holdings L.P. now owns 39,650 shares of the company’s stock worth $748,000 after acquiring an additional 6,600 shares in the last quarter. Artisan Partners Limited Partnership grew its position in Antero Midstream GP by 0.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,126,433 shares of the company’s stock worth $21,245,000 after acquiring an additional 7,427 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in Antero Midstream GP in the third quarter worth approximately $128,000. 76.67% of the stock is owned by 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.

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