Antero Midstream GP (AMGP) Price Target Cut to $19.00

Antero Midstream GP (NYSE:AMGP) had its target price dropped by research analysts at Credit Suisse Group from $20.00 to $19.00 in a report released on Wednesday. The firm currently has a “neutral” rating on the stock. Credit Suisse Group’s price target indicates a potential upside of 30.40% from the company’s current price.

A number of other research firms have also recently issued reports on AMGP. Wells Fargo & Co reduced their target price on shares of Antero Midstream GP from $24.00 to $23.00 and set an “outperform” rating for the company in a research note on Thursday, August 9th. ValuEngine upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Stifel Nicolaus upgraded shares of Antero Midstream GP to a “buy” rating and set a $35.00 target price for the company in a research note on Monday, August 27th. Finally, Barclays dropped their price target on shares of Antero Midstream GP from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, October 12th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $21.27.

NYSE AMGP opened at $14.57 on Wednesday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 485.67 and a beta of 1.11. Antero Midstream GP has a 12-month low of $14.10 and a 12-month high of $22.39.

Antero Midstream GP (NYSE:AMGP) last posted its earnings results on Wednesday, October 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.04). The business had revenue of $37.82 million during the quarter, compared to analyst estimates of $37.72 million. Antero Midstream GP had a net margin of 40.12% and a return on equity of 231.93%. Antero Midstream GP’s revenue was up 98.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 earnings per share. Equities research analysts predict that Antero Midstream GP will post 0.52 EPS for the current fiscal year.

In other news, insider K. Phil Yoo sold 5,000 shares of Antero Midstream GP stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $16.76, for a total value of $83,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Several large investors have recently added to or reduced their stakes in AMGP. Carnick & Kubik Group LLC bought a new position in shares of Antero Midstream GP in the second quarter valued at approximately $23,221,000. Neuberger Berman Group LLC increased its position in Antero Midstream GP by 29.8% during the third quarter. Neuberger Berman Group LLC now owns 5,331,021 shares of the company’s stock worth $90,201,000 after acquiring an additional 1,225,227 shares during the period. Tortoise Capital Advisors L.L.C. increased its position in Antero Midstream GP by 19.8% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 6,626,532 shares of the company’s stock worth $112,121,000 after acquiring an additional 1,093,947 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Antero Midstream GP during the third quarter worth $13,792,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Antero Midstream GP during the second quarter worth $12,697,000. 77.26% of the stock is currently 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.

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Analyst Recommendations for Antero Midstream GP (NYSE:AMGP)

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