Antero Midstream Corporation [NYSE: AM] traded at a high on 09/28/22, posting a 5.30 gain after which it closed the day’ session at $9.33. The company report on September 12, 2022 that Antero Midstream Agrees to Acquire Bolt-On Marcellus Gathering and Compression System.
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Antero Midstream Corporation (NYSE: AM) (“Antero Midstream” or the “Company”) today announced that it has entered into a definitive agreement to acquire Marcellus Shale gas gathering and compression assets from Crestwood Equity Partners LP (NYSE: CEQP) for $205 million in cash, subject to customary adjustments. The transaction is expected to close in the fourth quarter of 2022 and is subject to customary regulatory approvals.
Paul Rady, Chairman and CEO said, “Today’s bolt-on acquisition provides significant synergies that drive attractive economics and immediate Free Cash Flow accretion to Antero Midstream. The acquisition is consistent with Antero Midstream’s strategy of investing in infrastructure in the Marcellus, the lowest cost shale play, for high visibility customers, particularly Antero Resources. Importantly, the assets include underutilized gathering and compression capacity for capital efficient development from both Antero Resources and other third parties.”.
The results of the trading session contributed to over 3465326 shares changing hands. Over the past one week, the price volatility of Antero Midstream Corporation stands at 4.66% while the volatility over the past one month is 3.36%.
The market cap for AM stock reached $4.76 billion, with 478.32 million shares outstanding and 321.47 million shares in the current float. Compared to the average trading volume of 3.49M shares, AM reached a trading volume of 3465326 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $10.57 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 3.30. 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.
Wells Fargo have made an estimate for Antero Midstream Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 28, 2022. While these analysts kept the previous recommendation, Barclays dropped their target price from $11 to $10. The new note on the price target was released on March 02, 2022, representing the official price target for Antero Midstream Corporation stock. Previously, the target price had yet another raise to $8, while Tudor Pickering analysts kept a Sell rating on AM stock.
The Average True Range (ATR) for Antero Midstream Corporation is set at 0.35, with the Price to Sales ratio for AM stock in the period of the last 12 months amounting to 5.36. The Price to Book ratio for the last quarter was 2.00. Price to Free Cash Flow for AM in the course of the last twelve months was 6.64 with Quick ratio for the last quarter at 0.60.
How has AM stock performed recently?
Antero Midstream Corporation [AM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.23. With this latest performance, AM shares dropped by -11.56% in over the last four-week period, additionally sinking by -16.25% over the last 6 months – not to mention a drop of -11.14% 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 41.05, with the RSI for the last a single of trading hit 40.30, and the three-weeks RSI is set at 42.63 for Antero Midstream Corporation [AM]. The present Moving Average for the last 50 days of trading for this stock 10.01, while it was recorded at 9.16 for the last single week of trading, and 10.10 for the last 200 days.
Antero Midstream Corporation [AM]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Antero Midstream Corporation [AM] shares currently have an operating margin of +58.21 and a Gross Margin at +65.21. Antero Midstream Corporation’s Net Margin is presently recorded at +34.23.
Return on Equity for this stock inclined to 14.10, with Return on Assets sitting at 5.89.
Antero Midstream Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.60.
Earnings analysis for Antero Midstream Corporation [AM]
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Antero Midstream Corporation go to 6.20%.
Insider trade positions for Antero Midstream Corporation [AM]
There are presently around $2,381 million, or 53.60% of AM stock, in the hands of institutional investors. The top three institutional holders of AM stocks are: BLACKROCK INC. with ownership of 33,669,077, which is approximately 2.284% of the company’s market cap and around 1.10% of the total institutional ownership; INVESCO LTD., holding 32,818,111 shares of the stock with an approximate value of $306.19 million in AM stocks shares; and VANGUARD GROUP INC, currently with $296.63 million in AM stock with ownership of nearly 1.524% of the company’s market capitalization.
Positions in Antero Midstream Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 185 institutional holders increased their position in Antero Midstream Corporation [NYSE:AM] by around 19,026,786 shares. Additionally, 125 investors decreased positions by around 20,296,690 shares, while 52 investors held positions by with 215,839,821 shares. The mentioned changes placed institutional holdings at 255,163,297 shares, according to the latest SEC report filing. AM stock had 50 new institutional investments in for a total of 3,038,065 shares, while 31 institutional investors sold positions of 4,985,932 shares during the same period.