Q1 2024 Earnings Forecast for Antero Midstream Co. Issued By Zacks Research (NYSE:AM)

Antero Midstream Co. (NYSE:AM) – Analysts at Zacks Research increased their Q1 2024 earnings per share (EPS) estimates for Antero Midstream in a research note issued on Tuesday, April 16th. Zacks Research analyst R. Department now forecasts that the pipeline company will earn $0.24 per share for the quarter, up from their prior estimate of $0.23. The consensus estimate for Antero Midstream’s current full-year earnings is $0.96 per share. Zacks Research also issued estimates for Antero Midstream’s Q2 2024 earnings at $0.24 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.97 EPS, Q2 2025 earnings at $0.26 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.27 EPS, FY2025 earnings at $1.04 EPS and Q1 2026 earnings at $0.32 EPS.

Several other equities research analysts have also issued reports on AM. StockNews.com raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Saturday, March 30th. Tudor, Pickering, Holt & Co. lowered Antero Midstream from a “buy” rating to a “hold” rating and raised their price objective for the company from $12.00 to $13.00 in a report on Tuesday, March 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.70.

Antero Midstream Price Performance

Shares of AM opened at $13.82 on Thursday. The business’s 50-day moving average is $13.45 and its two-hundred day moving average is $12.83. The company has a market capitalization of $6.63 billion, a P/E ratio of 17.94 and a beta of 2.25. Antero Midstream has a fifty-two week low of $9.69 and a fifty-two week high of $14.52. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.95 and a current ratio of 0.95.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. The business had revenue of $260.17 million for the quarter, compared to analyst estimates of $261.04 million. Antero Midstream had a return on equity of 19.96% and a net margin of 35.69%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 earnings per share.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.51%. Antero Midstream’s dividend payout ratio is currently 116.88%.

Insider Activity

In other news, insider Sheri Pearce sold 16,394 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $13.67, for a total value of $224,105.98. Following the transaction, the insider now owns 170,266 shares of the company’s stock, valued at approximately $2,327,536.22. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Antero Midstream

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Michigan Retirement System increased its stake in Antero Midstream by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 83,625 shares of the pipeline company’s stock worth $1,176,000 after buying an additional 1,900 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Antero Midstream by 360.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,240 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 1,753 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Antero Midstream by 11.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 142,393 shares of the pipeline company’s stock worth $2,002,000 after acquiring an additional 14,247 shares during the period. MCF Advisors LLC purchased a new stake in shares of Antero Midstream during the first quarter worth $34,000. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Antero Midstream in the 1st quarter valued at about $159,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

About Antero Midstream

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.