Raymond James Trims Antero Midstream GP (AMGP) Target Price to $19.00

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Antero Midstream GP (NYSE:AMGP) had its price objective reduced by equities research analysts at Raymond James from $27.00 to $19.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price objective would suggest a potential upside of 51.64% from the stock’s previous close.

AMGP has been the subject of a number of other research reports. Credit Suisse Group began coverage on shares of Antero Midstream GP in a report on Thursday, October 11th. They set a “neutral” rating and a $20.00 target price for the company. Stifel Nicolaus raised shares of Antero Midstream GP to a “buy” rating and set a $35.00 target price for the company in a report on Monday, August 27th. Barclays lowered their target price on shares of Antero Midstream GP from $23.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, October 12th. ValuEngine raised shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research raised shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Antero Midstream GP has a consensus rating of “Buy” and an average target price of $21.09.

AMGP stock traded down $0.26 during trading on Wednesday, hitting $12.53. The company had a trading volume of 8,156 shares, compared to its average volume of 604,701. Antero Midstream GP has a 12 month low of $12.55 and a 12 month high of $22.39. The stock has a market capitalization of $2.50 billion, a PE ratio of 421.33 and a beta of 1.06.

Antero Midstream GP (NYSE:AMGP) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Antero Midstream GP had a return on equity of 231.93% and a net margin of 40.12%. The company had revenue of $37.82 million during the quarter, compared to the consensus estimate of $37.72 million. During the same quarter last year, the firm earned $0.02 EPS. The business’s revenue for the quarter was up 98.3% on a year-over-year basis. On average, equities research analysts anticipate that Antero Midstream GP will post 0.5 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. BlueMountain Capital Management LLC bought a new stake in Antero Midstream GP in the 3rd quarter valued at $125,000. Bank of Montreal Can bought a new stake in Antero Midstream GP in the 3rd quarter valued at $128,000. GSA Capital Partners LLP bought a new stake in Antero Midstream GP in the 3rd quarter valued at $198,000. Marshall Wace LLP bought a new stake in Antero Midstream GP in the 3rd quarter valued at $199,000. Finally, Virtus Alternative Investment Advisers Inc. bought a new stake in Antero Midstream GP in the 3rd quarter valued at $212,000. 78.10% of the stock is owned by institutional investors.

About Antero Midstream GP

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.

See Also: Book Value Per Share – BVPS

Analyst Recommendations for Antero Midstream GP (NYSE:AMGP)

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