Antero Midstream Corporation (NYSE: AM) stock fell -1.79% on Thursday to $10.45 against a previous-day closing price of $10.64. With 1.51 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.61 million shares. During the session, the Oil & Gas Midstream company that operates in wider Energy sector, reached to the highest price of $10.58 whereas the lowest price it dropped to was $10.40. The 52-week range on AM shows that it touched its highest point at $11.61 and its lowest point at $8.56 during that stretch. It currently has a 1-year price target of $12.14. With its current market cap of 4.97 billion, AM has annualized dividend of $0.90 while the current yield stands at 8.61%. Beta for the stock currently stands at 2.29.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AM was down-trending over the past week, with a drop of -1.32%, but this was up by 6.63% over a month. Three-month performance dropped to -2.97% while six-month performance fell -5.94%. The stock gained 0.87% in the past year, while it has lost -3.15% so far this year. A look at the trailing 12-month EPS for AM yields 0.69 with Next year EPS estimates of 0.94. For the next quarter, that number is 0.20. This implies an EPS growth rate of -1.70% for this year and 15.83% for next year. EPS is expected to grow by 10.50% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 122.30%.
Float and Shares Shorts:
At present, 478.61 million AM shares are outstanding with a float of 321.50 million shares on hand for trading. On May 14, 2023, short shares totaled 7.47 million, which was 1.56% higher than short shares on Apr 13, 2023. In addition to Mr. Paul M. Rady as the firm’s Pres, Chairman & CEO, Mr. Brendan E. Krueger serves as its CFO, VP of Fin. & Treasurer.
Institutional Ownership:
Through their ownership of 54.23% of AM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.46% of AM, in contrast to 33.56% held by mutual funds. Shares owned by individuals account for 18.82%. As the largest shareholder in AM with 6.87% of the stake, The Vanguard Group, Inc. holds 32,967,740 shares worth 32,967,740. A second-largest stockholder of AM, Invesco Advisers, Inc., holds 31,711,540 shares, controlling over 6.61% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in AM, holding 31,533,464 shares or 6.57% stake. With a 5.00% stake in AM, the Invesco SteelPath MLP Income Fund is the largest stakeholder. A total of 23,994,063 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 2.18% of AM stock, is the second-largest Mutual Fund holder. It holds 10,451,862 shares valued at 112.46 million. Vanguard Total Stock Market ETF holds 2.02% of the stake in AM, owning 9,684,738 shares worth 104.21 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, AM reported revenue of $246.57M and operating income of $132.07M. The EBITDA in the recently reported quarter was $208.23M and diluted EPS was $0.17.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With AM analysts setting a high price target of $14.00 and a low target of $11.00, the average target price over the next 12 months is $12.14. Based on these targets, AM could surge 33.97% to reach the target high and rise by 5.26% to reach the target low. Reaching the average price target will result in a growth of 16.17% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded AM stock several times over the past three months with 13 Buys and 5 Sells. In these transactions, 1,451,225 shares were bought while 323,041 shares were sold. The number of buy transactions has increased to 32 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 1,510,799 while 2,112,652 shares were sold.
