Antero Midstream GP LP (NYSE:AMGP) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,662,640 shares, a decline of 32.6% from the October 31st total of 2,467,140 shares. Approximately 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 562,398 shares, the days-to-cover ratio is presently 3.0 days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMGP. Russell Investments Group Ltd. purchased a new stake in Antero Midstream GP in the 2nd quarter valued at $3,535,000. State of New Jersey Common Pension Fund D purchased a new stake in Antero Midstream GP in the 2nd quarter valued at $1,649,000. Sei Investments Co. purchased a new stake in Antero Midstream GP in the 2nd quarter valued at $1,658,000. Tortoise Capital Advisors L.L.C. purchased a new stake in Antero Midstream GP in the 2nd quarter valued at $90,757,000. Finally, Duff & Phelps Investment Management Co. purchased a new stake in Antero Midstream GP in the 2nd quarter valued at $8,039,000. 64.73% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on AMGP shares. Wells Fargo & Company raised Antero Midstream GP from a “market perform” rating to an “outperform” rating in a research report on Monday, November 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Antero Midstream GP in a research report on Friday, November 17th. Goldman Sachs Group lowered Antero Midstream GP from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $23.00 in a research report on Friday, September 8th. Zacks Investment Research lowered Antero Midstream GP from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $28.00 target price on shares of Antero Midstream GP in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.25.
Antero Midstream GP (NYSE:AMGP) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.04). The company had revenue of $19.07 million during the quarter, compared to analysts’ expectations of $19.44 million. Antero Midstream GP had a net margin of 4.41% and a return on equity of 17.95%. analysts expect that Antero Midstream GP will post 0.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 23rd. Investors of record on Wednesday, November 1st were given a $0.059 dividend. This is a positive change from Antero Midstream GP’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, October 31st.
Antero Midstream GP Company Profile
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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