Antero Midstream Corporation [NYSE: AM] loss -0.61% or -0.06 points to close at $9.70 with a heavy trading volume of 3778333 shares. The company report on May 25, 2021 that Antero Midstream Announces Pricing of Upsized $750 Million Offering of Senior Notes.
Antero Midstream Corporation (NYSE: AM) (“Antero Midstream” or the “Company”) announced the pricing of its private placement to eligible purchasers of $750 million in aggregate principal amount of 5.375% senior unsecured notes due 2029 at par (the “Notes”). The offering is expected to close on June 8, 2021, subject to customary closing conditions.
Antero Midstream estimates that it will receive net proceeds of approximately $742 million, after deducting the initial purchasers’ discounts and estimated expenses. Antero Midstream intends to use the net proceeds from the offering to fund the redemption of all $650 million aggregate principal amount of its 5.375% senior notes due 2024 (the “2024 Notes”) at a price of 102.688% plus accrued interest and to use the remaining net proceeds to repay borrowings under its credit facility. The redemption of all 2024 Notes is expected to be conditioned on the completion of the offering of the Notes. The offering of the Notes is not contingent upon the completion of such redemption.
It opened the trading session at $9.79, the shares rose to $9.83 and dropped to $9.60, the range by which the price of stock traded the whole day. The daily chart for AM points out that the company has recorded 51.56% gains over the past six months. However, it is still -123.5% lower than its most recent low trading price.
If we look at the average trading volume of 4.62M shares, AM reached to a volume of 3778333 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Antero Midstream Corporation [AM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AM shares is $8.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AM stock is a recommendation set at 3.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Antero Midstream Corporation shares, keeping their opinion on the stock as Sell, with their previous recommendation back on March 12, 2021. The new note on the price target was released on January 11, 2021, representing the official price target for Antero Midstream Corporation stock. Previously, the target price had yet another raise from $5 to $7, while Wells Fargo kept a Equal Weight rating on AM stock.
The Average True Range (ATR) for Antero Midstream Corporation is set at 0.31, with the Price to Sales ratio for AM stock in the period of the last 12 months amounting to 5.27. The Price to Book ratio for the last quarter was 1.96, with the Price to Cash per share for the same quarter was set at 0.00.
Trading performance analysis for AM stock
Antero Midstream Corporation [AM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.90. With this latest performance, AM shares gained by 6.48% in over the last four-week period, additionally plugging by 51.56% over the last 6 months – not to mention a rise of 114.60% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AM stock in for the last two-week period is set at 58.78, with the RSI for the last a single of trading hit 57.17, and the three-weeks RSI is set at 58.09 for Antero Midstream Corporation [AM]. The present Moving Average for the last 50 days of trading for this stock 9.05, while it was recorded at 9.87 for the last single week of trading, and 7.69 for the last 200 days.
Antero Midstream Corporation [AM]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Antero Midstream Corporation [AM] shares currently have an operating margin of +57.54 and a Gross Margin at +64.48. Antero Midstream Corporation’s Net Margin is presently recorded at -12.61.
Return on Total Capital for AM is now 9.68, given the latest momentum, and Return on Invested Capital for the company is -2.12. Return on Equity for this stock declined to -4.41, with Return on Assets sitting at -2.06. When it comes to the capital structure of this company, Antero Midstream Corporation [AM] has a Total Debt to Total Equity ratio set at 127.84. Additionally, AM Total Debt to Total Capital is recorded at 56.11, with Total Debt to Total Assets ending up at 55.10. Long-Term Debt to Equity for the company is recorded at 127.84, with the Long-Term Debt to Total Capital now at 56.11.
Reflecting on the efficiency of the workforce at the company, Antero Midstream Corporation [AM] managed to generate an average of -$234,726 per employee. Receivables Turnover for the company is 9.84 with a Total Asset Turnover recorded at a value of 0.16.Antero Midstream Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
Antero Midstream Corporation [AM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Antero Midstream Corporation posted 0.18/share EPS, while the average EPS was predicted by analysts to be reported at 0.21/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -14.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AM.
An analysis of insider ownership at Antero Midstream Corporation [AM]
There are presently around $2,428 million, or 53.10% of AM stock, in the hands of institutional investors. The top three institutional holders of AM stocks are: INVESCO LTD. with ownership of 31,132,970, which is approximately 11.513% of the company’s market cap and around 2.50% of the total institutional ownership; VANGUARD GROUP INC, holding 30,275,252 shares of the stock with an approximate value of $293.67 million in AM stocks shares; and BLACKROCK INC., currently with $274.22 million in AM stock with ownership of nearly 9.767% of the company’s market capitalization.
Positions in Antero Midstream Corporation stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 156 institutional holders increased their position in Antero Midstream Corporation [NYSE:AM] by around 32,114,924 shares. Additionally, 139 investors decreased positions by around 36,352,636 shares, while 44 investors held positions by with 181,810,624 shares. The mentioned changes placed institutional holdings at 250,278,184 shares, according to the latest SEC report filing. AM stock had 61 new institutional investments in for a total of 5,088,506 shares, while 38 institutional investors sold positions of 12,702,324 shares during the same period.