Antero Midstream Corp [NYSE: AM] traded at a high on Thursday, posting a 0.16 gain after which it closed the day’ session at $12.26. The company report on January 11, 2024 at 4:26 PM that Antero Midstream Announces Pricing of Upsized $600 Million Offering of Senior Notes.
Antero Midstream Corporation (NYSE: AM) (“Antero Midstream”) announced today the pricing of its upsized private placement to eligible purchasers of $600 million in aggregate principal amount of 6.625% senior unsecured notes due 2032 at par (the “Notes”). The offering is expected to close on January 16, 2024, subject to customary closing conditions.
Antero Midstream estimates that it will receive net proceeds of approximately $593 million, after deducting the initial purchasers’ discounts and estimated expenses. Antero Midstream intends to use the net proceeds from the offering to repay indebtedness under its revolving credit facility, which amounts may be reborrowed for general corporate purposes, including repayment of near-term maturities.
The results of the trading session contributed to over 3007978 shares changing hands. Over the past one week, the price volatility of Antero Midstream Corp stands at 1.48% while the volatility over the past one month is 1.73%.
The market cap for AM stock reached $5.88 billion, with 478.50 million shares outstanding and 336.42 million shares in the current float. Compared to the average trading volume of 2.21M shares, AM reached a trading volume of 3007978 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 Corp [AM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AM shares is $13.21 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 2.75. 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 Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 06, 2023.
The Average True Range (ATR) for Antero Midstream Corp is set at 0.22, with the Price to Sales ratio for AM stock in the period of the last 12 months amounting to 5.38. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 0.00. Price to Free Cash Flow for AM in the course of the last twelve months was 17.83 with Quick ratio for the last quarter at 0.86.
How has AM stock performed recently?
Antero Midstream Corp [AM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.33. With this latest performance, AM shares dropped by -2.85% in over the last four-week period, additionally plugging by 4.70% over the last 6 months – not to mention a rise of 12.48% 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 46.47, with the RSI for the last a single of trading hit 47.73, and the three-weeks RSI is set at 46.42 for Antero Midstream Corp [AM]. The present Moving Average for the last 50 days of trading for this stock 12.60, while it was recorded at 12.31 for the last single week of trading, and 11.82 for the last 200 days.
Antero Midstream Corp [AM]: Deeper insight into the fundamentals
Antero Midstream Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.86 and a Current Ratio set at 0.86.
Earnings analysis for Antero Midstream Corp [AM]
With the latest financial reports released by the company, Antero Midstream Corp posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -10.50%. 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 Corp go to 10.50%.
Insider trade positions for Antero Midstream Corp [AM]
The top three institutional holders of AM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AM stock with ownership which is approximately 5.8325%.
