Wall Street analysts expect Antero Midstream GP LP (NYSE:AMGP) to report $37.45 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Antero Midstream GP’s earnings, with the highest sales estimate coming in at $37.85 million and the lowest estimate coming in at $36.70 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 business 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 forecast that the business will post sales of $230.39 million, with estimates ranging from $222.93 million to $235.70 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Antero Midstream GP.
Antero Midstream GP (NYSE:AMGP) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.06). Antero Midstream GP had a net margin of 32.91% and a return on equity of 199.85%. The firm had revenue of $33.14 million for the quarter, compared to the consensus estimate of $33.39 million. During the same quarter last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 116.2% on a year-over-year basis.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Stifel Nicolaus restated a “buy” rating and set a $19.00 price target on shares of Antero Midstream GP in a report on Tuesday, September 18th. ValuEngine upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, Wells Fargo & Co decreased their price target on shares of Antero Midstream GP from $24.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $22.00.
In other news, insider K. Phil Yoo sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $16.76, for a total transaction of $83,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Kevin J. Kilstrom sold 50,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $18.81, for a total transaction of $940,500.00. The disclosure for this sale can be found here.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP raised its position in Antero Midstream GP by 73.0% in the first quarter. Quantbot Technologies LP now owns 7,460 shares of the company’s stock worth $119,000 after purchasing an additional 3,148 shares in the last quarter. Teacher Retirement System of Texas raised its position in Antero Midstream GP by 29.7% in the first quarter. Teacher Retirement System of Texas now owns 16,596 shares of the company’s stock worth $265,000 after purchasing an additional 3,804 shares in the last quarter. Guggenheim Capital LLC raised its position in Antero Midstream GP by 8.8% in the first quarter. Guggenheim Capital LLC now owns 72,902 shares of the company’s stock worth $1,166,000 after purchasing an additional 5,888 shares in the last quarter. Franklin Square Holdings L.P. raised its position in Antero Midstream GP by 20.0% in the second quarter. Franklin Square Holdings L.P. now owns 39,650 shares of the company’s stock worth $748,000 after purchasing an additional 6,600 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its position in Antero Midstream GP by 0.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,126,433 shares of the company’s stock worth $21,245,000 after purchasing an additional 7,427 shares in the last quarter. 76.67% of the stock is owned by institutional investors and hedge funds.
AMGP stock traded down $0.08 during mid-day trading on Thursday, reaching $17.17. 321,000 shares of the stock traded hands, compared to its average volume of 557,699. Antero Midstream GP has a 52 week low of $14.85 and a 52 week 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.
Antero Midstream GP Company Profile
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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