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Antero Midstream Corporation (AM) Slumps -2.75%, A Loss For Bears

Antero Midstream Corporation (NYSE:AM) has a beta value of 2.36 and has seen 3.77 million shares traded in the last trading session. The company, currently valued at $5.25B, closed the last trade at $10.98 per share which meant it lost -$0.31 on the day or -2.75% during that session. The AM stock price is -5.74% off its 52-week high price of $11.61 and 22.04% above the 52-week low of $8.56. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.27 million shares traded. The 3-month trading volume is 2.85 million shares.

Antero Midstream Corporation (NYSE:AM) trade information

Sporting -2.75% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the AM stock price touched $10.98 or saw a rise of 4.02%. Year-to-date, Antero Midstream Corporation shares have moved 1.76%, while the 5-day performance has seen it change -3.35%. Over the past 30 days, the shares of Antero Midstream Corporation (NYSE:AM) have changed 1.76%. Short interest in the company has seen 11.03 million shares shorted with days to cover at 3.22.

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Wall Street analysts have a consensus price target for the stock at $11.29, which means that the shares’ value could jump 2.75% from current levels. The projected low price target is $10.00 while the price target rests at a high of $13.00. In that case, then, we find that the current price level is -18.4% off the targeted high while a plunge would see the stock lose 8.93% from current levels.

Antero Midstream Corporation (AM) estimates and forecasts

Figures show that Antero Midstream Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 10.35% over the past 6 months, with this year growth rate of -15.29%, compared to 5.00% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 12.50% and 11.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 5.00%.

3 analysts offering their estimates for the company have set an average revenue estimate of $241.71 million for the current quarter. 3 have an estimated revenue figure of $248.79 million for the next quarter concluding in Mar 2023. Year-ago sales stood $216.49 million and $231.16 million respectively for this quarter and the next, and analysts expect sales will grow by 11.60% for the current quarter and 7.60% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 67.60% over the past 5 years. Earnings growth for 2023 is a modest 368.20% while over the next 5 years, the company’s earnings are expected to increase by 5.50%.

AM Dividends

Antero Midstream Corporation is expected to release its next earnings report between February 14 and February 20 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.90 at a share yield of 8.20%. The company’s dividend yield has gone up over the past 12 months.

Antero Midstream Corporation (NYSE:AM)’s Major holders

Insiders own 32.81% of the company shares, while shares held by institutions stand at 53.66% with a share float percentage of 79.86%. Investors are also buoyed by the number of investors in a company, with Antero Midstream Corporation having a total of 432 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 33.67 million shares worth more than $304.71 million. As of Jun 29, 2022, Blackrock Inc. held 7.04% of shares outstanding.

The other major institutional holder is Invesco Ltd., with the holding of over 32.82 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $297.0 million and represent 6.86% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Invesco Steelpath MLP Income Fund and iShares Core S&P Midcap ETF. As of May 30, 2022, the former fund manager holds about 4.68% shares in the company for having 22.39 million shares of worth $243.2 million while later fund manager owns 9.76 million shares of worth $89.61 million as of Sep 29, 2022, which makes it owner of about 2.04% of company’s outstanding stock.

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