Equities research analysts expect Antero Midstream GP LP (NYSE:AMGP) to report $37.45 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Antero Midstream GP’s earnings, with the lowest sales estimate coming in at $36.70 million and the highest estimate coming in at $37.85 million. Antero Midstream GP reported sales of $19.07 million in the same quarter last year, which indicates a positive year-over-year growth rate of 96.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Antero Midstream GP will report full-year sales of $140.45 million for the current fiscal year, with estimates ranging from $136.49 million to $142.84 million. For the next fiscal year, analysts expect that the company will post sales of $230.39 million, with estimates ranging from $222.93 million to $235.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Antero Midstream GP.
Antero Midstream GP (NYSE:AMGP) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Antero Midstream GP had a return on equity of 199.85% and a net margin of 32.91%. The company had revenue of $33.14 million for the quarter, compared to analyst estimates of $33.39 million. During the same period in the previous year, the business posted ($0.01) earnings per share. The firm’s revenue was up 116.2% compared to the same quarter last year.
A number of research firms have weighed in on AMGP. Stifel Nicolaus reaffirmed a “buy” rating and set a $19.00 price objective on shares of Antero Midstream GP in a research report on Tuesday, September 18th. Wells Fargo & Co cut their target price on 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 raised Antero Midstream GP from a “strong sell” rating to a “sell” rating in a research note on Friday, June 1st. Finally, Zacks Investment Research raised Antero Midstream GP from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.00.
In related news, insider K. Phil Yoo sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $16.76, for a total value of $83,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin J. Kilstrom sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $18.81, for a total value of $940,500.00. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMGP. Wells Fargo & Company MN increased its stake in Antero Midstream GP by 21.5% in the 1st quarter. Wells Fargo & Company MN now owns 101,823 shares of the company’s stock valued at $1,628,000 after purchasing an additional 18,026 shares in the last quarter. Swiss National Bank increased its stake in Antero Midstream GP by 104.1% in the 1st quarter. Swiss National Bank now owns 129,600 shares of the company’s stock valued at $2,072,000 after purchasing an additional 66,100 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Antero Midstream GP by 1,672.5% in the 1st quarter. Neuberger Berman Group LLC now owns 1,724,404 shares of the company’s stock valued at $27,573,000 after purchasing an additional 1,627,120 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Antero Midstream GP by 29.7% in the 1st quarter. Teacher Retirement System of Texas now owns 16,596 shares of the company’s stock valued at $265,000 after purchasing an additional 3,804 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Antero Midstream GP by 511.0% in the 1st quarter. Northern Trust Corp now owns 86,638 shares of the company’s stock valued at $1,385,000 after purchasing an additional 72,458 shares in the last quarter. 76.67% of the stock is owned by hedge funds and other institutional investors.
Antero Midstream GP stock traded down $0.08 during mid-day trading on Thursday, reaching $17.17. 321,000 shares of the company were exchanged, compared to its average volume of 557,699. Antero Midstream GP has a twelve month low of $14.85 and a twelve month high of $22.39. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 570.67 and a beta of 1.73.
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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