Bank of Nova Scotia purchased a new stake in Antero Midstream Corporation (NYSE:AM – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 165,422 shares of the pipeline company’s stock, valued at approximately $3,763,000.
Several other hedge funds also recently added to or reduced their stakes in the stock. Clearstead Trust LLC acquired a new position in Antero Midstream during the 2nd quarter worth approximately $30,000. Arax Advisory Partners grew its position in Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 791 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares during the period. Root Financial Partners LLC raised its stake in shares of Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 537 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Antero Midstream by 219,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets In other news, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares of the company’s stock, valued at approximately $1,846,639. The trade was a 16.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the completion of the sale, the director owned 68,204 shares in the company, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.
Antero Midstream Price Performance AM stock opened at $21.92 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The stock’s 50 day moving average is $22.25 and its two-hundred day moving average is $21.99. The company has a market capitalization of $10.40 billion, a PE ratio of 26.10 and a beta of 0.65. Antero Midstream (NYSE:AM – Get Free Report) last released its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $326.43 million. During the same period in the prior year, the business posted $0.29 EPS. The business’s revenue was up 7.1% on a year-over-year basis. Analysts predict that Antero Midstream Corporation will post 1.09 earnings per share for the current fiscal year.
Antero Midstream Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is 107.14%.
Analyst Ratings Changes Several brokerages have recently weighed in on AM. Wells Fargo & Company upped their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Weiss Ratings cut shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.50.
View Our Latest Research Report on Antero Midstream
(Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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Great Lakes Advisors LLC bought a new stake in shares of Antero Midstream Corporation (NYSE:AM – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,938 shares of the pipeline company’s stock, valued at approximately $613,000.
A number of other hedge funds and other institutional investors have also modified their holdings of AM. Clearstead Trust LLC acquired a new position in shares of Antero Midstream in the second quarter worth about $30,000. Larson Financial Group LLC grew its stake in Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares in the last quarter. Arax Advisory Partners grew its stake in Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 791 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Root Financial Partners LLC increased its holdings in Antero Midstream by 36.4% during the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares during the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.
Antero Midstream Stock Performance Shares of Antero Midstream stock opened at $22.17 on Monday. The firm has a market cap of $10.52 billion, a PE ratio of 26.39 and a beta of 0.65. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The firm’s 50-day simple moving average is $22.22 and its 200-day simple moving average is $21.95. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84.
Antero Midstream (NYSE:AM – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The firm had revenue of $327.24 million for the quarter, compared to analysts’ expectations of $326.43 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Antero Midstream’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts forecast that Antero Midstream Corporation will post 1.09 earnings per share for the current fiscal year. Antero Midstream Dividend Announcement The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s payout ratio is 107.14%.
Insider Activity at Antero Midstream In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the completion of the sale, the director owned 68,204 shares in the company, valued at $1,450,699.08. The trade was a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sheri Pearce sold 16,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider directly owned 83,900 shares in the company, valued at $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.
Key Headlines Impacting Antero Midstream Here are the key news stories impacting Antero Midstream this week:
Positive Sentiment: Zacks raised its estimates for multiple periods, including Q3 and Q4 2026, Q1 and Q2 2027, Q4 2027, and Q1 and Q2 2028. The firm also increased its full-year EPS forecasts to $1.17 for 2027 from $1.16 and $1.23 for 2028 from $1.21. Antero Midstream analyst estimates Positive Sentiment: The revisions included a higher Q3 2026 estimate of $0.27 EPS, up from $0.26, and a higher Q4 2026 estimate of $0.27, up from $0.26. Estimates for Q1 2027, Q2 2027, Q4 2027, Q1 2028 and Q2 2028 were also raised by $0.01 to $0.02 per share. Neutral Sentiment: The current-year consensus EPS estimate remains $1.09. AM recently reported quarterly EPS of $0.27, in line with expectations, while revenue rose 7.1% year over year to $327.2 million. Negative Sentiment: Zacks lowered its Q3 2027 EPS forecast to $0.27 from $0.30, indicating that the positive revisions are not uniform across the forecast period. Wall Street Analyst Weigh In A number of equities analysts have issued reports on the company. Weiss Ratings lowered Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Wells Fargo & Company raised their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.50.
View Our Latest Stock Report on AM
Antero Midstream Company Profile (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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Abacus FCF Advisors LLC bought a new position in Antero Midstream Corporation (NYSE:AM – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 474,204 shares of the pipeline company’s stock, valued at approximately $10,788,000. Antero Midstream accounts for approximately 2.0% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Abacus FCF Advisors LLC owned 0.10% of Antero Midstream as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in Antero Midstream in the 2nd quarter worth approximately $30,000. Larson Financial Group LLC grew its holdings in shares of Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 791 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares during the period. Finally, Root Financial Partners LLC increased its stake in shares of Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after buying an additional 537 shares during the period. 53.97% of the stock is owned by institutional investors.
Analysts Set New Price Targets AM has been the topic of several recent analyst reports. Weiss Ratings cut Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.50.
View Our Latest Analysis on AM Insider Activity In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the sale, the director owned 68,204 shares in the company, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the transaction, the insider directly owned 83,900 shares of the company’s stock, valued at $1,846,639. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.
Antero Midstream Trading Down 1.2% Shares of AM opened at $22.43 on Thursday. Antero Midstream Corporation has a 1-year low of $16.96 and a 1-year high of $23.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The firm’s 50-day moving average price is $22.19 and its 200-day moving average price is $21.90. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 26.70 and a beta of 0.65.
Antero Midstream (NYSE:AM – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. Antero Midstream’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Sell-side analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current year.
Antero Midstream Dividend Announcement The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.0%. Antero Midstream’s payout ratio is presently 107.14%.
Antero Midstream Profile (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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Amundi cut its stake in Antero Midstream Corporation (NYSE:AM – Free Report) by 31.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,311 shares of the pipeline company’s stock after selling 251,909 shares during the quarter. Amundi owned approximately 0.12% of Antero Midstream worth $12,547,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of AM. Larson Financial Group LLC grew its position in shares of Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares in the last quarter. Arax Advisory Partners grew its holdings in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 791 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Antero Midstream by 219,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares during the last quarter. Root Financial Partners LLC raised its stake in Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 2,224 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.
Antero Midstream Price Performance Antero Midstream stock opened at $21.88 on Wednesday. The firm has a market cap of $10.38 billion, a PE ratio of 26.04 and a beta of 0.65. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The company’s 50 day moving average is $22.03 and its two-hundred day moving average is $21.63.
Antero Midstream Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.1%. Antero Midstream’s dividend payout ratio (DPR) is 107.14%.
Analysts Set New Price Targets Several research firms have recently weighed in on AM. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings cut Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Finally, The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Antero Midstream has an average rating of “Hold” and an average price target of $24.50.
View Our Latest Stock Analysis on Antero Midstream
About Antero Midstream (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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California State Teachers Retirement System raised its position in Antero Midstream Corporation (NYSE:AM – Free Report) by 26.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 426,913 shares of the pipeline company’s stock after purchasing an additional 88,900 shares during the period. California State Teachers Retirement System owned 0.09% of Antero Midstream worth $9,734,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its stake in shares of Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after acquiring an additional 537 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Antero Midstream by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company’s stock valued at $489,000 after acquiring an additional 537 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Antero Midstream by 23.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock valued at $59,000 after acquiring an additional 617 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Antero Midstream by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock valued at $2,148,000 after purchasing an additional 660 shares during the period. Finally, Choreo LLC increased its position in Antero Midstream by 5.0% during the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock worth $253,000 after purchasing an additional 679 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.
Antero Midstream Stock Performance NYSE:AM opened at $22.02 on Tuesday. Antero Midstream Corporation has a 52 week low of $16.96 and a 52 week high of $23.83. The company has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $21.60. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 26.21 and a beta of 0.65.
Antero Midstream Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s payout ratio is presently 107.14%.
Analysts Set New Price Targets Several equities analysts have recently commented on AM shares. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. Weiss Ratings cut shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. Wells Fargo & Company increased their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Antero Midstream presently has an average rating of “Hold” and an average price target of $24.50.
Check Out Our Latest Stock Report on AM
About Antero Midstream (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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Arrowstreet Capital Limited Partnership acquired a new stake in shares of Antero Midstream Corporation (NYSE:AM – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 194,808 shares of the pipeline company’s stock, valued at approximately $4,442,000.
Several other institutional investors have also modified their holdings of AM. Larson Financial Group LLC raised its position in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares during the last quarter. Arax Advisory Partners increased its stake in Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after buying an additional 791 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after acquiring an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.
Antero Midstream Stock Performance Shares of Antero Midstream stock opened at $22.02 on Tuesday. Antero Midstream Corporation has a one year low of $16.96 and a one year high of $23.83. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 26.21 and a beta of 0.65. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The business’s 50 day moving average price is $22.02 and its 200 day moving average price is $21.60.
Antero Midstream Announces Dividend The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. Antero Midstream’s dividend payout ratio (DPR) is 107.14%.
Wall Street Analysts Forecast Growth A number of brokerages have recently issued reports on AM. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a research note on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday. Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and a consensus price target of $24.50.
Check Out Our Latest Stock Report on Antero Midstream
Antero Midstream Profile (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
Read More Five stocks we like better than Antero Midstream SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control Why Rare Earth Processing Could Be the Real 2027 Opportunity The S&P 493 Are Staging a Comeback—This Value ETF Offers Broad Exposure TSMC Insiders Are Buying the Pullback—But Is the Signal as Bullish as It Looks? Want to see what other hedge funds are holding AM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Midstream Corporation (NYSE:AM – Free Report).
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, /PRNewswire/ -- Beginning in the 2026-2027 athletic season, Antero will be the Official Jersey Patch Sponsor of West Virginia University (WVU) Department of Intercollegiate Athletics. Antero and WVU reached a five-year partnership in which Antero's logos will be featured on the home and away jerseys of all 18 WVU men's and women's varsity sports, marking the first jersey sponsorship patch in school history.
Antero Resources is the largest producer of energy in West Virginia, producing nearly half of the state's natural gas. The company is an independent oil and gas company that acquires, explores, develops, and produces natural gas, natural gas liquids, and oil in the Appalachian Basin in West Virginia.
"Since beginning operations in West Virginia in 2008, Antero has prioritized investing in the communities in which our team members live and work," said Michael Kennedy, CEO of Antero Resources and Antero Midstream. "Antero is proud to partner with WVU as the Official Jersey Patch Sponsor and support Mountaineer student athletes."
To date, Antero has invested billions of dollars in West Virginia, most recently acquiring additional West Virginia natural gas assets for nearly $4 billion.
In 2023, Antero Resources and Antero Midstream donated $4 million to WVU's Benjamin M. Statler College of Engineering and Mineral Resources, their largest philanthropic donation to date. The donation helped provide support for undergraduate and graduate students in petroleum and natural gas engineering and established a first of its kind online master's degree in midstream engineering.
"Antero has a strong history of investment in both the state of West Virginia and West Virginia University," said Conrad Baston, Vice President of Procurement and Administration at Antero Resources and Antero Midstream. "We are thrilled to take the next step in modern college athletics by supporting the student athletes at WVU."
The partnership between Antero and WVU includes Antero's logo patch on every Mountaineer jersey, and a myriad of marketing assets across WVU sports channels.
"Today marks a historic day for West Virginia University," said Wren Baker, Vice President and Director of Athletics at WVU. "Our partnership with Antero is a testament to their on-going commitment to invest in the state of West Virginia, our University, and student athletes. More than 500 student-athletes proudly wear the West Virginia jersey and now they will proudly represent Antero."
Antero Resources (NYSE: AR) is an independent oil and gas company that acquires, explores, develops and produces natural gas, natural gas liquids ("NGLs"), and oil in West Virginia. Through its extensive transportation portfolio, strategic midstream relationships, and integrated marketing approach, Antero delivers natural gas and NGLs to premier markets across the United States and abroad. Antero's partnership with Antero Midstream Corporation (NYSE: AM) provides reliable access to critical gathering, processing, transportation, and water infrastructure services, making Antero Resources one of the most integrated natural gas operations in Appalachia and in West Virginia. For more information about both companies, visit www.anteroresources.com and www.anteromidstream.com.
Income investors do not need to write big checks to build a meaningful dividend stream. With rates drifting and the market chasing AI names, three sub-$25 payers still offer usable yield backed by real cash flow. The basket below leans on midstream infrastructure and specialty finance, sectors where fee-based revenue and floating-rate lending keep distributions well covered in August.
One caveat up front: this list includes an MLP that issues a K-1 (Energy Transfer) and a business development company subject to the 90% distribution rule (Capital Southwest). Both structures carry unique tax and regulatory considerations that a straight C-corp dividend payer does not.
Energy Transfer (ET) Energy Transfer (NYSE:ET | ET Price Prediction) is the anchor of any income-first basket under $25. The stock’s 50-day moving average of $19.59 sits inside a 52-week range of $15.35 to $20.70, keeping the unit price comfortably below the $25 threshold. The partnership carries a dividend yield of 6.6%, with a latest quarterly distribution of $0.34 and an annualized forward estimate of $1.36. The next payment lands August 19, 2026, with the ex-dividend date of August 7, 2026.
The bull case is straightforward. Q1 2026 revenue reached $27.77 billion, up 32.1% year over year, and adjusted EBITDA rose 20% to $4.94 billion, with distributable cash flow expanding to $2.70 billion from $2.31 billion. Management raised FY2026 Adjusted EBITDA guidance to $18.2 billion to $18.6 billion, a $750 million bump driven by NGL export strength and rising AI/data-center gas demand tied to hyperscale campus deals. Analysts remain constructive: the consensus target sits at $23.90, with 5 Strong Buy and 14 Buy ratings against only 2 Holds.
Risk: interest expense climbed to $947 million versus $809 million a year earlier, pressuring net income and highlighting leverage sensitivity. And again, ET issues a K-1, which complicates tax filing for retail investors holding units in taxable accounts.
Capital Southwest (CSWC) Capital Southwest (NASDAQ:CSWC) delivers the highest headline yield of the three. As a business development company, CSWC is required to distribute at least 90% of taxable income, and it does so on a monthly cadence. Shares trade in the low $20s, with a 50-day moving average of $23.49 and a 52-week range of $17.63 to $24.41. The dividend yield reads 9.84%, supported by an annualized dividend of $2.321 and a trailing 12-month total of $2.5608 including supplementals.
The underlying credit book is what makes the payout durable. The portfolio is 99% first-lien senior secured with a weighted average debt yield of 10.81% and non-accruals of just 1.1% at fair value. FY2026 total investment income grew 13.5% to $232.1 million, and the portfolio expanded 17% to roughly $2.10 billion in fair value. The new CapTrin Partners joint venture with Trinity Capital closed a $150 million revolving credit facility with an accordion to $350 million, expanding origination firepower. Analyst target: $24.90.
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Risk: the book is 95.5% floating-rate, so a Fed pivot cuts both ways. A 75 basis point rate cut would trim annual NII by roughly $11.4 million, or about $0.19 per share. Base-rate compression has already nudged weighted yields lower from the prior year.
Antero Midstream (AM) Antero Midstream (NYSE:AM) rounds out the group as the growth-tilted midstream option. Shares sit below the $25 line, with a 50-day moving average of $22.02 and a 52-week range of $16.41 to $23.35. The dividend yield of 4.18% is the lightest of the three, but it is paired with the strongest volume-growth story. The $0.225 quarterly dividend has been stable since Q4 2021, and the next payment falls on August 12, 2026.
Q2 2026 gathering volumes hit a record 4.1 Bcf/d, up 19% year over year, with compression volumes up 17% and processing and fractionation running at 100% utilization. In late July, AM received a $371 million Clearwater/Veolia court award and used it, alongside its credit facility, to retire $650 million in 2028 senior notes. That leaves more than $600 million in liquidity and roughly $310 million left on the share repurchase program. The consensus target price is $24.14.
Risk: Q2 2026 EPS came in at $0.27 versus the $0.33 estimate, missing expectations on a 16% jump in interest expense to $55.68 million tied to HG Energy financing. Customer concentration with Antero Resources remains a structural consideration.
What To Watch In August Three ex-dividend and payment dates all fall inside this month, making August an unusually clean entry window for income-focused readers. Keep an eye on the stocks around the Fed’s next signal: CSWC’s floating-rate book is the most rate-sensitive, ET’s fee-based cash flow the most insulated, and AM’s next catalyst is the East Side Express pipeline build supporting high-single-digit EBITDA growth in 2027.
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For the quarter ended June 2026, Antero Midstream Corporation (AM - Free Report) reported revenue of $327.24 million, up 7.1% over the same period last year. EPS came in at $0.24, compared to $0.26 in the year-ago quarter.
The reported revenue represents a surprise of +1.53% over the Zacks Consensus Estimate of $322.31 million. With the consensus EPS estimate being $0.27, the EPS surprise was -11.11%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Antero Midstream performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Average Daily Volumes - Low Pressure Gathering: 4124 millions of cubic feet per day versus 3861.92 millions of cubic feet per day estimated by three analysts on average.Average Daily Volumes - Fresh Water Delivery: 82 millions of barrels of oil per day versus the three-analyst average estimate of 91.18 millions of barrels of oil per day.Average Daily Volumes - Compression: 3289 millions of cubic feet per day versus the three-analyst average estimate of 3672.09 millions of cubic feet per day.Average Daily Volumes - High Pressure Gathering: 2986 millions of cubic feet per day compared to the 3139.76 millions of cubic feet per day average estimate based on three analysts.Revenues- Water Handling- Antero Resources: $78.54 million versus the three-analyst average estimate of $70.93 million. The reported number represents a year-over-year change of +6.5%.Revenues- Gathering and Processing- Antero Resources: $271.51 million versus the three-analyst average estimate of $267.32 million. The reported number represents a year-over-year change of +9.1%.Revenues- Gathering and Processing: $257.72 million compared to the $252.01 million average estimate based on two analysts. The reported number represents a change of +7.6% year over year.Revenues- Water Handling: $69.52 million versus the two-analyst average estimate of $68.97 million. The reported number represents a year-over-year change of +5.6%.Revenues- Amortization of customer relationships: $-22.8 million versus $-19.6 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +29.1% change.View all Key Company Metrics for Antero Midstream here>>>
Shares of Antero Midstream have returned -4.4% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Cetera Investment Advisers grew its position in shares of Antero Midstream Corporation (NYSE:AM – Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 867,200 shares of the pipeline company’s stock after buying an additional 77,936 shares during the quarter. Cetera Investment Advisers owned 0.18% of Antero Midstream worth $19,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares during the period. Arax Advisory Partners boosted its stake in shares of Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 791 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after acquiring an additional 2,199 shares during the last quarter. Root Financial Partners LLC grew its position in shares of Antero Midstream by 36.4% during the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Antero Midstream by 401.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after acquiring an additional 2,224 shares during the period. 53.97% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In AM has been the topic of a number of recent research reports. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a report on Wednesday, April 22nd. Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.25.
View Our Latest Stock Report on Antero Midstream
Antero Midstream Trading Down 3.3% Shares of AM stock opened at $21.99 on Tuesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day simple moving average of $22.06 and a two-hundred day simple moving average of $21.44. The firm has a market capitalization of $10.45 billion, a PE ratio of 25.57 and a beta of 0.64. Antero Midstream Corporation has a 52-week low of $16.77 and a 52-week high of $23.83.
Antero Midstream (NYSE:AM – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. Antero Midstream’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. On average, analysts predict that Antero Midstream Corporation will post 1.1 EPS for the current fiscal year.
Antero Midstream Dividend Announcement The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.1%. Antero Midstream’s payout ratio is currently 104.65%.
Insider Buying and Selling In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of Antero Midstream stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. The trade was a 6.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of Antero Midstream stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.
About Antero Midstream (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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Bessemer Group Inc. reduced its stake in Antero Midstream Corporation (NYSE:AM – Free Report) by 91.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,112 shares of the pipeline company’s stock after selling 166,796 shares during the period. Bessemer Group Inc.’s holdings in Antero Midstream were worth $367,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Larson Financial Group LLC grew its holdings in Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares in the last quarter. Arax Advisory Partners lifted its holdings in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after buying an additional 791 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Antero Midstream by 401.4% in the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after acquiring an additional 2,224 shares during the period. 53.97% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets In related news, insider Yvette K. Schultz sold 69,269 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the transaction, the insider directly owned 580,565 shares in the company, valued at approximately $12,714,373.50. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.
Antero Midstream Stock Performance Shares of AM opened at $22.75 on Friday. The company has a market cap of $10.80 billion, a PE ratio of 26.45 and a beta of 0.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average price of $22.07 and a 200-day moving average price of $21.38. Antero Midstream Corporation has a 12-month low of $16.77 and a 12-month high of $23.83.
Antero Midstream (NYSE:AM – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts forecast that Antero Midstream Corporation will post 1.1 earnings per share for the current fiscal year.
Antero Midstream Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. Antero Midstream’s dividend payout ratio is presently 104.65%.
Analyst Ratings Changes A number of research firms recently weighed in on AM. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a report on Tuesday, July 14th. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.25.
Read Our Latest Analysis on AM
Antero Midstream Profile (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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, /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced that the Board of Directors of Antero Midstream declared a cash dividend of $0.225 per share for the second quarter of 2026. The Company also repurchased approximately 0.4 million shares during the second quarter. In addition, Antero Midstream announced plans to issue its second quarter 2026 earnings on Wednesday, July 29, 2026 after the close of trading on the New York Stock Exchange.
Second Quarter 2026 Return of Capital
The Board of Directors of Antero Midstream declared a cash dividend of $0.225 per share for the second quarter of 2026, or $0.90 per share on an annualized basis. The dividend will be payable on August 12, 2026 to stockholders of record as of July 29, 2026. This represents the 47th consecutive quarterly dividend or distribution paid since Antero Midstream Partners LP's initial public offering in November 2014. In addition, during the second quarter of 2026, Antero Midstream repurchased 0.4 million shares for approximately $8 million. Antero Midstream had $310 million of remaining share repurchase capacity under its $500 million authorized share repurchase program as of June 30, 2026.
Second Quarter 2026 Earnings Release Date and Conference Call
Antero Midstream plans to issue its second quarter 2026 earnings on Wednesday, July 29, 2026 after the close of trading on the New York Stock Exchange. A conference call is scheduled on Thursday, July 30, 2026 at 10:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9126 (U.S.), or +1 201-493-6751 (International) and reference "Antero Midstream." A telephone replay of the call will be available until Thursday, August 6, 2026 at 10:00 am MT at 877-660-6853 (U.S.) or +1 201-612-7415 (International) using the conference ID: 13758948. To access the live webcast and view the related earnings conference call presentation, visit Antero Midstream's website at www.anteromidstream.com. The webcast will be archived for replay until Thursday, August 6, 2026 at 10:00 am MT.
Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin, as well as integrated water assets that primarily service Antero Resources Corporation's properties.
For more information, contact Daniel Katzenberg, Vice President – Investor Relations, at (303) 357-7219 [email protected].
A month has gone by since the last earnings report for Antero Midstream Corporation (AM - Free Report) . Shares have added about 9.3% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Antero Midstream due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts.
Antero Midstream's Q4 Earnings Miss Estimates, Revenues BeatAntero Midstream reported fourth-quarter 2025 earnings per share of 11 cents, which missed the Zacks Consensus Estimate of 24 cents. The bottom line also declined from the year-ago quarter’s level of 23 cents.
Total quarterly revenues of $297 million beat the Zacks Consensus Estimate of $294 million. The top line also improved from $287 million in the year-ago quarter.
The weak quarterly earnings can be attributed to an increase in total operating expenses. However, higher gathering and compression volumes partially offset the negatives.
Operational Performance
Average daily compression volumes were 3,424 million cubic feet (MMcf/d) compared with 3,266 MMcf/d in the year-ago quarter. The reported figure was above our estimate of 3,274 MMcf/d. On a per-Mcf basis, the compression fee was 22 cents, which increased nearly 5% from 21 cents a year ago.
High-pressure gathering volumes totaled 3,193 MMcf/d, up 5% from the year-ago level of 3,045 MMcf/d. Our estimate for the same was pinned at 3,068 MMcf/d. On a per-Mcf basis, the average gathering high-pressure fee was 23 cents, which remained flat year over year.
Low-pressure gathering volumes averaged 3,435 MMcf/d compared with 3,276 MMcf/d a year ago. The figure was above our estimate of 3,296 MMcf/d. On a per-Mcf basis, the average gathering low-pressure fee was 36 cents, which remained flat year over year. The reported figure met our estimate of 36 cents.
Freshwater delivery volumes were registered at 93 MBbls/d, down 18% from the prior-year quarter’s figure of 114 MBbls/d. On a per-barrel basis, the average freshwater distribution fee was $4.37 compared with $4.31 a year ago. The figure was above our estimate of $4.31.
Operating Expenses
Direct operating expenses amounted to $54.1 million, down from $55.9 million recorded a year ago.
Antero Midstream’s total operating expenses amounted to $196.5 million, up from $109.7 million recorded in the corresponding period of 2024.
Balance Sheet
As of Dec. 31, 2025, the company had cash and cash equivalents of $180 million. The company also had a long-term debt of $3.2 billion.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.
VGM ScoresCurrently, Antero Midstream has a subpar Growth Score of D, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of this revision looks promising. Interestingly, Antero Midstream has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerAntero Midstream belongs to the Zacks Oil and Gas - Integrated - United States industry. Another stock from the same industry, National Fuel Gas (NFG - Free Report) , has gained 9.5% over the past month. More than a month has passed since the company reported results for the quarter ended December 2025.
National Fuel Gas reported revenues of $651.51 million in the last reported quarter, representing a year-over-year change of +18.6%. EPS of $2.06 for the same period compares with $1.66 a year ago.
For the current quarter, National Fuel Gas is expected to post earnings of $2.69 per share, indicating a change of +12.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.8% over the last 30 days.
National Fuel Gas has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
The war in Iran has thrust the energy sector into extreme volatility once again. Oil prices have surged to around $100 per barrel, while average U.S. gasoline prices at the pump have soared to $3.67 a gallon — up 25% in just one month. Escalating tensions around the Strait of Hormuz, a vital chokepoint for roughly 20% of global oil and LNG shipments, have disrupted operations and sent international natural gas prices spiking.
Most energy stocks have ridden the 2026 rally higher amid these shocks. Yet some companies stand to benefit whether the conflict drags on for months or resolves quickly. Antero Midstream (NYSE:AM | AM Price Prediction) is one of them. It has delivered eye-popping total returns of 271% over the last three years, and while Antero can still deliver gains, has all the easy money already been made?
The Quiet Workhorse of Appalachia Antero Midstream owns and operates an extensive network of gathering pipelines, compression stations, processing plants, and water-handling infrastructure in the Marcellus and Utica shale plays of West Virginia and Ohio. It moves roughly 3 billion cubic feet equivalent per day of natural gas and natural gas liquids for its primary customer, Antero Resources (NYSE:AR).
Antero Midstream is tied at the hip to Antero Resources — substantially all of its revenue comes from long-term, fixed-fee contracts with its upstream affiliate. Those contracts are largely take-or-pay, meaning the midstream operator gets paid regardless of commodity price swings. That structure delivers rock-solid revenue visibility and shields the company from the wild price volatility now roiling global markets.
In December, Antero Midstream announced a transformative $1.1 billion acquisition of Marcellus-focused midstream assets from HG Midstream. The deal closed in early 2026 and was partly funded by selling non-core Utica assets. The result is a sharper focus on the prolific Marcellus basin, higher throughput capacity, and meaningful cost synergies.
Management’s 2026 guidance reflects the boost — adjusted EBITDA rising roughly 8% and free cash flow after dividends up 11%. With low leverage and strong coverage ratios, Antero Midstream enters this uncertain period in excellent financial shape.
The Iran War’s Indirect Lift for a Domestic Pure Play Neither Antero company has operations in the Middle East. Iranian missiles, tanker attacks, and the partial closure of the Strait of Hormuz cannot touch their Appalachian wells or pipelines. Yet the conflict is still a net tailwind.
Global LNG buyers in Europe and Asia are scrambling for U.S. cargoes after Qatari production disruptions. That extra export pull supports higher domestic natural gas demand and modestly firmer prices. NGL prices (propane, butane) have also strengthened. For Antero Resources, stronger economics encourage more drilling and higher volumes. For Antero Midstream, that translates directly into more gathering and processing fees — all under those ironclad contracts. In short, the pipeline operator benefits from the upward pressure on energy prices without bearing any of the geopolitical risk.
Pump-Price Pain Creates Broader Economic Risks However, gasoline at $3.67 a gallon is pinching household budgets and threatening consumer spending. Economists warn that sustained high fuel costs could slow GDP growth and curb industrial energy demand. If a broader recession takes hold, natural gas consumption might soften.
Here again, though, Antero Midstream’s business model shines. Because its contracts are fixed-fee and take-or-pay, the company still collects its revenue even if its upstream partner’s production volumes dip slightly or end-users cut back. The stability that once looked boring now looks like a fortress.
Key Takeaways Yes, the easy money in Antero Midstream has largely been made. The stock’s 271% three-year run and the post-acquisition re-rating have priced in much of the obvious upside. Prospects for continued share-price appreciation remain solid thanks to volume growth, integration benefits, and supportive LNG tailwinds from the Iran conflict. But the blistering pace of recent years is unlikely to repeat.
That said, income investors should take notice. Antero Midstream currently yields about 3.9% and has a history of fairly reliable quarterly payouts backed by visible cash flows. In a world of geopolitical shocks and volatile energy prices, the stock offers something increasingly rare: defensive growth plus a healthy dividend.
Whether you missed the 271% run or not, the stock still deserves a close look for portfolios seeking both income and resilience.
Algert Global LLC boosted its holdings in shares of Antero Midstream Corporation (NYSE: AM) by 105.2% in the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,153,609 shares of the pipeline company's stock after buying an additional 591,346 shares during the quarter.
Antero Midstream (NYSE: AM) stock climbed 2.18% on Tuesday, March 24, reaching a fresh 52-week high of $23.46.
The midstream energy firm’s stock is now up 30% over the past year, and with a market value of nearly $11 billion, the company is now trading close to its peak levels.
Antero Midstream stock price. Source: Google Finance What set the stock surging in earnest was the fourth-quarter 2025 earnings report published on February 11, 2026, which showed Antero had beat earnings expectations but missed on revenue.
Specifically, the company posted a net income of $52 million, or $0.11 per diluted share, a 52% per share decrease compared to the prior year quarter. At the same time, adjusted net income sat at $133 million, or $0.28 per diluted share, an 8% per share increase in the same period.
On February 26, Antero Midstream also completed the $400 million sale of its Utica Shale midstream assets in an effort to streamline operations and improve its balance sheet. The move elicited a generally positive reaction, considering AM shares have gone up 6% following the announcement.
Antero Midstream outlook Looking ahead, the Antero management guides for a net income of $485 million to $535 million in 2026. Compared to 2025 at the midpoint of guidance, the figure would represent a 23% increase.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are expected somewhere between $1.19 billion and $1.24 billion. This translates into an 8% increase compared to 2025.
Similarly, capital expenditure is guided in the $190–$220 million range, while adjusted free cash flow, after dividends, is forecasted between $330 million and $390 million. The projection, however, also assumes an annualized dividend of $0.90 per share, an 11% increase compared to 2025.
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Chickasaw Capital Management LLC grew its stake in shares of Antero Midstream Corporation (NYSE: AM) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,409,183 shares of the pipeline company's stock after acquiring an additional 147,250 shares
The war in Iran has sent the energy sector soaring. However, two high-yielding names have been mostly left behind. I detail why I think these could be the most compelling buys in energy right now.
Shares of Antero Midstream Corporation (NYSE:AM – Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.40 and traded as high as $23.03. Antero Midstream shares last traded at $22.7850, with a volume of 1,770,244 shares trading hands.
Analyst Upgrades and Downgrades A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. The Goldman Sachs Group upped their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Wells Fargo & Company upped their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Finally, UBS Group upped their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Antero Midstream currently has a consensus rating of “Hold” and a consensus target price of $22.50.
Read Our Latest Research Report on Antero Midstream
Antero Midstream Stock Up 0.8% The stock’s fifty day moving average is $21.78 and its two-hundred day moving average is $19.40. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. The firm has a market cap of $10.78 billion, a P/E ratio of 26.49 and a beta of 0.75.
Antero Midstream (NYSE:AM – Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.Antero Midstream’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. As a group, research analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.
Antero Midstream Announces Dividend The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.9%. Antero Midstream’s dividend payout ratio is presently 104.65%.
Insider Transactions at Antero Midstream In other news, insider Yvette K. Schultz sold 25,000 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $22.81, for a total value of $570,250.00. Following the transaction, the insider owned 649,834 shares of the company’s stock, valued at $14,822,713.54. This represents a 3.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the transaction, the director directly owned 69,680 shares in the company, valued at $1,613,788.80. The trade was a 6.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,000 shares of company stock valued at $1,004,690 in the last quarter. Insiders own 0.86% of the company’s stock.
Hedge Funds Weigh In On Antero Midstream Institutional investors have recently made changes to their positions in the stock. Richardson Financial Services Inc. increased its holdings in shares of Antero Midstream by 330.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after buying an additional 994 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Antero Midstream in the 3rd quarter worth $25,000. Elevation Wealth Partners LLC bought a new position in shares of Antero Midstream in the 4th quarter worth $27,000. Quent Capital LLC bought a new position in shares of Antero Midstream in the 3rd quarter worth $28,000. Finally, Larson Financial Group LLC boosted its stake in shares of Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.
Antero Midstream Company Profile (Get Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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, /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced that the Board of Directors of Antero Midstream declared a cash dividend of $0.225 per share for the first quarter of 2026. The Company also repurchased approximately 1.0 million shares during the first quarter. In addition, Antero Midstream announced plans to issue its first quarter 2026 earnings on Wednesday, April 29, 2026 after the close of trading on the New York Stock Exchange.
First Quarter 2026 Return of Capital
The Board of Directors of Antero Midstream declared a cash dividend of $0.225 per share for the first quarter of 2026, or $0.90 per share on an annualized basis. The dividend will be payable on May 13, 2026 to stockholders of record as of April 29, 2026. This represents the 46th consecutive quarterly dividend or distribution paid since Antero Midstream Partners LP's initial public offering in November 2014. In addition, during the first quarter of 2026, Antero Midstream repurchased approximately 1.0 million shares for approximately $18 million. Antero Midstream had approximately $318 million of remaining share repurchase capacity under its $500 million authorized share repurchase program as of March 31, 2026.
First Quarter 2026 Earnings Release Date and Conference Call
Antero Midstream plans to issue its first quarter 2026 earnings on Wednesday, April 29, 2026 after the close of trading on the New York Stock Exchange. A conference call is scheduled on Thursday, April 30, 2026 at 10:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9126 (U.S.), or 201-493-6751 (International) and reference "Antero Midstream." A telephone replay of the call will be available until Thursday, May 7, 2026 at 10:00 am MT at 877-660-6853 (U.S.) or 201-612-7415 (International) using the conference ID: 13758947. To access the live webcast and view the related earnings conference call presentation, visit Antero Midstream's website at www.anteromidstream.com. The webcast will be archived for replay until Thursday, May 7, 2026 at 10:00 am MT.
Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin, as well as integrated water assets that primarily service Antero Resources Corporation's properties.
Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ -- Antero Resources (NYSE: AR) ("Antero" or the "Company") today announced that the Company plans to issue its first quarter 2026 earnings release on Wednesday, April 29, 2026 after the close of trading on the New York Stock Exchange.
A conference call is scheduled on Thursday, April 30, 2026 at 9:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9079 (U.S.), or 201-493-6746 (International) and reference "Antero Resources." A telephone replay of the call will be available until Thursday, May 7, 2026 at 9:00 am MT at 877-660-6853 (U.S.) or 201-612-7415 (International) using the conference ID: 13758944. To access the live webcast and view the related earnings conference call presentation, visit Antero's website at www.anteroresources.com. The webcast will be archived for replay until Thursday, May 7, 2026 at 9:00 am MT.
Antero Resources is an independent natural gas and natural gas liquids company engaged in the acquisition, development and production of unconventional properties located in the Appalachian Basin in West Virginia. In conjunction with its affiliate, Antero Midstream (NYSE: AM), Antero is one of the most integrated natural gas producers in the U.S. The Company's website is located at www.anteroresources.com.
Eagle Global Advisors LLC increased its position in shares of Antero Midstream Corporation (NYSE:AM – Free Report) by 145.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 453,513 shares of the pipeline company’s stock after acquiring an additional 268,923 shares during the period. Eagle Global Advisors LLC owned approximately 0.10% of Antero Midstream worth $8,068,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of AM. Bank of New York Mellon Corp grew its holdings in Antero Midstream by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock worth $152,574,000 after acquiring an additional 1,430,138 shares during the period. Goldman Sachs Group Inc. grew its holdings in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the period. SIR Capital Management L.P. grew its holdings in Antero Midstream by 1,086.9% during the third quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock worth $26,892,000 after acquiring an additional 1,266,794 shares during the period. Qube Research & Technologies Ltd purchased a new position in Antero Midstream in the 2nd quarter worth about $20,044,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Antero Midstream in the 2nd quarter worth about $18,811,000. 53.97% of the stock is owned by institutional investors and hedge funds.
Insider Activity In other news, insider Sheri Pearce sold 14,000 shares of Antero Midstream stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the sale, the insider directly owned 99,900 shares in the company, valued at $2,273,724. The trade was a 12.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the sale, the director owned 69,680 shares of the company’s stock, valued at approximately $1,613,788.80. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 44,000 shares of company stock worth $1,004,690 in the last three months. 0.86% of the stock is owned by insiders.
Antero Midstream Stock Down 1.1% Shares of Antero Midstream stock opened at $20.65 on Wednesday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 24.01 and a beta of 0.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. Antero Midstream Corporation has a 52-week low of $16.24 and a 52-week high of $23.83. The stock has a 50-day simple moving average of $22.29 and a 200-day simple moving average of $19.56.
Antero Midstream (NYSE:AM – Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $297.00 million for the quarter, compared to analyst estimates of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts expect that Antero Midstream Corporation will post 1.14 earnings per share for the current fiscal year.
Antero Midstream Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Antero Midstream’s payout ratio is currently 104.65%.
Wall Street Analysts Forecast Growth A number of equities analysts recently weighed in on the company. UBS Group lifted their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 25th. The Goldman Sachs Group lifted their price target on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings raised Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. Wells Fargo & Company lifted their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Finally, Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $22.50.
View Our Latest Stock Report on AM
Antero Midstream Profile (Free Report)
Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.
The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.
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, /PRNewswire/ -- Antero Midstream Corporation (NYSE: AM) ("Antero Midstream" or the "Company") today announced its first quarter 2026 financial and operating results. The relevant consolidated financial statements are included in Antero Midstream's Quarterly Report on Form 10-Q for the three months ended March 31, 2026.
First Quarter 2026 Highlights:
Gathering volumes increased by 14% compared to the prior year quarter Net Income was $118 million, or $0.25 per diluted share, in line with the prior year quarter Adjusted Net Income was $138 million, or $0.29 per diluted share, a 4% per share increase compared to the prior year quarter (non-GAAP measure) Adjusted EBITDA was $288 million, a 5% increase compared to the prior year quarter (non-GAAP measure) Capital expenditures were $42 million Adjusted Free Cash Flow after dividends was $85 million, an 8% increase compared to the prior year quarter (non-GAAP measure) Repurchased 1.0 million shares for $18 million Michael Kennedy, CEO and President said, "Antero Midstream delivered another quarter of volume and EBITDA growth while closing the Company's largest acquisition to-date. Our ability to close the HG acquisition and integrate operations while avoiding any outages during Winter Storm Fern, is a testament to the hard work and dedication of our team."
Mr. Kennedy continued, "In addition to the integration efforts that remain on schedule, we continue to invest capital to improve the connectivity and market outlets on our gathering systems. These capital projects supported our first dry gas Marcellus Shale pad in over a decade, as well as our first pad on the acquired assets, that were connected during the second quarter. These pads deliver volumetric growth and position Antero Midstream to help supply the rising demand for U.S. Energy."
Justin Agnew, CFO of Antero Midstream, said, "Antero Midstream's strong balance sheet and consistent Free Cash Flow generation, combined with the sale of our Ohio Utica Shale assets, allowed us to finance the HG Energy acquisition while maintaining leverage in the low 3-times range. Looking ahead we expect our just-in-time organic strategy, bolstered by the highly accretive HG Energy acquisition, to continue delivering high-single digit EBITDA growth in the future."
For a discussion of the non-GAAP financial measures, including Adjusted EBITDA, Adjusted Net Income, Leverage, and Adjusted Free Cash Flow after dividends please see "Non-GAAP Financial Measures."
Share Repurchases
During the first quarter of 2026, Antero Midstream repurchased 1.0 million shares for $18 million. Antero Midstream had approximately $318 million of remaining capacity under its share repurchase program as of March 31, 2026.
Strategic and Operating Updates
Antero Midstream completed its two previously announced strategic transactions during the first quarter. The Company closed on the HG Energy acquisition in early February and closed on the divestiture of its Ohio Utica Shale assets in late February. Operating and financial results include contributions based on the closing dates of each transaction.
Upon closing of the acquisition, Antero Midstream immediately commenced asset integration operations and cost-effective water blending solutions. This included initial facilities and connectivity work that successfully supported the first pad turn-in-line on the acquired assets in the second quarter. In addition, the Company initiated the construction of a pipeline to connect its water system with the acquired water system, which supports additional fresh water delivery volumes and growth in 2027 and beyond.
During the first quarter of 2026, Antero Midstream connected 20 wells to its gathering system and serviced 26 wells with its fresh water delivery system. Capital expenditures were $42 million during the first quarter of 2026. The Company invested $26 million in gathering and compression, $15 million in water infrastructure, and $1 million in the Stonewall Joint Venture.
First Quarter 2026 Financial Results
Gathering volumes increased by 14% compared to the prior year quarter. Fresh water delivery volumes averaged 83 MBbl/d during the quarter, a 21% decrease compared to the first quarter of 2025. Processing volumes from the processing and fractionation joint venture (the "Joint Venture") increased by 4% compared to the prior year quarter. Joint Venture fractionation volumes averaged 40 MBbl/d, in line with the prior year quarter. Processing and fractionation capacity were both 100% utilized during the quarter.
Three Months Ended
March 31,
Average Daily Volumes:
2025
2026
% Change
Gathering (MMcf/d)
3,348
3,805
14 %
Centralized Compression (MMcf/d)
3,330
3,370
1 %
High Pressure Gathering (MMcf/d)
3,106
3,133
1 %
Fresh Water Delivery (MBbl/d)
105
83
(21) %
Joint Venture Processing (MMcf/d)
1,650
1,708
4 %
Joint Venture Fractionation (MBbl/d)
40
40
—
For the three months ended March 31, 2026, revenues were $314 million, comprised of $250 million from the Gathering and Processing segment and $64 million from the Water Handling segment, net of $21 million of amortization of customer relationships. Water Handling revenues include $40 million from other water handling and high rate water transfer services.
Direct operating expenses were $30 million for the Gathering and Processing segment and $41 million for the Water Handling segment for a total of $71 million. Water Handling operating expenses include $35 million from other water handling and high rate water transfer services. General and administrative expenses excluding equity-based compensation were $12 million during the first quarter of 2026. Total operating expenses during the first quarter of 2026 included $11 million of equity-based compensation expense and $35 million of depreciation expense. Transaction expense was $9 million related to the HG Midstream acquisition.
Net Income was $118 million, or $0.25 per diluted share, in line with the prior year quarter. Net Income adjusted for amortization of customer relationships, impairment of property and equipment, gain on long-lived assets, transaction expense and other, net of tax effects of reconciling items, or Adjusted Net Income, was $138 million. Adjusted Net Income was $0.29 per diluted share, a 4% per share increase compared to the prior year quarter.
The following table reconciles Net Income to Adjusted Net Income (in thousands):
Three Months Ended
March 31,
2025
2026
Net Income
$
120,737
118,266
Amortization of customer relationships
17,668
21,210
Impairment of property and equipment
817
—
Gain on long-lived assets
—
(2,658)
Transaction expense
—
8,689
Other(1)
(5)
(13)
Tax effect of reconciling items(2)
(4,773)
(7,047)
Adjusted Net Income
$
134,444
138,447
(1) Other represents gain on asset sale.
(2) The statutory tax rate for each of the three months ended March 31, 2025 and 2026 was approximately 26%.
Adjusted EBITDA was $288 million, a 5% increase compared to the prior year quarter. Interest expense was $54 million, a 12% increase compared to the prior year quarter driven by financing for the HG Energy acquisition. Capital expenditures were $42 million during the first quarter of 2026. Adjusted Free Cash Flow before dividends was $192 million and Adjusted Free Cash Flow after dividends was $85 million, an 8% increase compared to the prior year quarter.
The following table reconciles Net Income to Adjusted EBITDA and Adjusted Free Cash Flow before and after dividends (in thousands):
Three Months Ended
March 31,
2025
2026
Net Income
$
120,737
118,266
Interest expense, net
48,410
54,029
Income tax expense
36,096
37,639
Depreciation expense
32,748
34,635
Amortization of customer relationships
17,668
21,210
Equity-based compensation
12,402
10,579
Equity in earnings of unconsolidated affiliates
(28,020)
(30,012)
Distributions from unconsolidated affiliates
33,375
35,720
Impairment of property and equipment
817
—
Gain on long-lived assets
—
(2,658)
Transaction expense
—
8,689
Other operating expense, net(1)
44
34
Adjusted EBITDA
$
274,277
288,131
Interest expense, net
(48,410)
(54,029)
Capital expenditures (accrual-based)
(37,288)
(41,952)
Current income tax expense
(1,680)
—
Adjusted Free Cash Flow before dividends
$
186,899
192,150
Dividends declared (accrual-based)
(107,836)
(106,871)
Adjusted Free Cash Flow after dividends
$
79,063
85,279
(1) Other operating expense represents accretion of asset retirement obligations and gain on asset sale.
The following table reconciles net cash provided by operating activities to Adjusted Free Cash Flow before and after dividends (in thousands):
Three Months Ended
March 31,
2025
2026
Net cash provided by operating activities
$
198,942
238,624
Amortization of deferred financing costs
(1,307)
(1,512)
Settlement of asset retirement obligations
210
34
Transaction expense
—
8,689
Changes in working capital
26,342
(11,733)
Capital expenditures (accrual-based)
(37,288)
(41,952)
Adjusted Free Cash Flow before dividends
$
186,899
192,150
Dividends declared (accrual-based)
(107,836)
(106,871)
Adjusted Free Cash Flow after dividends
$
79,063
85,279
Conference Call
A conference call is scheduled on Thursday, April 30, 2026 at 10:00 am MT to discuss the financial and operational results. A brief Q&A session for security analysts will immediately follow the discussion of the results. To participate in the call, dial in at 877-407-9126 (U.S.), or 201-493-6751 (International) and reference "Antero Midstream." A telephone replay of the call will be available until Thursday, May 7, 2026 at 10:00 am MT at 877-660-6853 (U.S.) or 201-612-7415 (International) using the conference ID: 13758947. To access the live webcast and view the related earnings conference call presentation, visit Antero Midstream's website at www.anteromidstream.com. The webcast will be archived for replay until Thursday, May 7, 2026 at 10:00 am MT.
Presentation
An updated presentation will be posted to the Company's website before the conference call. The presentation can be found at www.anteromidstream.com on the homepage. Information on the Company's website does not constitute a portion of, and is not incorporated by reference into, this press release.
Non-GAAP Financial Measures and Definitions
Antero Midstream uses certain non-GAAP financial measures. Antero Midstream defines Adjusted Net Income as Net Income adjusted for certain items. Antero Midstream uses Adjusted Net Income to assess the operating performance of its assets. Antero Midstream defines Adjusted EBITDA as Net Income adjusted for certain items.
Antero Midstream uses Adjusted EBITDA to assess:
the financial performance of Antero Midstream's assets, without regard to financing methods, capital structure or historical cost basis; its operating performance and return on capital as compared to other publicly traded companies in the midstream energy sector, without regard to financing or capital structure; and the viability of acquisitions and other capital expenditure projects. Antero Midstream defines Adjusted Free Cash Flow before dividends as Adjusted EBITDA less net interest expense, accrual-based capital expenditures, and current income tax expense. Capital expenditures include additions to gathering systems and facilities, additions to water handling systems, and investments in unconsolidated affiliates. Capital expenditures exclude acquisitions and Adjusted Free Cash Flow excludes transaction expense related to acquisitions. Adjusted Free Cash Flow after dividends is defined as Adjusted Free Cash Flow before dividends less accrual-based dividends declared for the quarter. Antero Midstream uses Adjusted Free Cash Flow before and after dividends as a performance metric to compare the cash generating performance of Antero Midstream from period to period.
Adjusted EBITDA, Adjusted Net Income, and Adjusted Free Cash Flow before and after dividends are non-GAAP financial measures. The GAAP measure most directly comparable to these measures is Net Income. Such non-GAAP financial measures should not be considered as alternatives to the GAAP measures of Net Income and cash flows provided by (used in) operating activities. The presentations of such measures are not made in accordance with GAAP and have important limitations as analytical tools because they include some, but not all, items that affect Net Income and cash flows provided by (used in) operating activities. You should not consider any or all such measures in isolation or as a substitute for analyses of results as reported under GAAP. Antero Midstream's definitions of such measures may not be comparable to similarly titled measures of other companies.
The following table reconciles cash paid for capital expenditures and accrued capital expenditures during the period (in thousands):
Three Months Ended
March 31,
2025
2026
Capital expenditures (as reported on a cash basis)
$
32,276
38,806
Change in accrued capital costs
5,012
3,146
Capital expenditures (accrual basis)
$
37,288
41,952
Antero Midstream defines Net Debt as consolidated total debt, excluding unamortized debt premiums and debt issuance costs, less cash, cash equivalents and restricted cash. Antero Midstream views Net Debt as an important indicator in evaluating Antero Midstream's financial leverage. Antero Midstream defines Leverage as Net Debt divided by Adjusted EBITDA for the last twelve months. The GAAP measure most directly comparable to Net Debt is total debt, excluding unamortized debt premiums and debt issuance costs.
The following table reconciles consolidated total debt to Net Debt as used in this release (in thousands):
March 31, 2026
Bank credit facility
$
442,400
5.75% senior notes due 2028
650,000
5.375% senior notes due 2029
750,000
6.625% senior notes due 2032
600,000
5.75% senior notes due 2033
650,000
5.75% senior notes due 2034
600,000
Consolidated total debt
$
3,692,400
Less: Cash, cash equivalents and restricted cash
—
Consolidated net debt
$
3,692,400
Antero Midstream Corporation is a Delaware corporation that owns, operates and develops midstream gathering, compression, processing and fractionation assets located in the Appalachian Basin, as well as integrated water assets that primarily service Antero Resources Corporation's (NYSE: AR) ("Antero Resources") properties.
This release includes "forward-looking statements." Words such as "may," "assume," "forecast," "position," "predict," "strategy," "expect," "intend," "plan," "estimate," "anticipate," "believe," "project," "budget," "potential," or "continue," and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Midstream's control. All statements, except for statements of historical fact, made in this release regarding activities, events or developments Antero Midstream expects, believes or anticipates will or may occur in the future, such as statements regarding our strategy, future operations, financial position, estimated revenues and losses, Antero Resources' and Antero Midstream's respective ability to integrate acquired assets and achieve the intended operational, financial and strategic benefits from any such transactions, projected costs, prospects, plans and objectives of management, Antero Resources' expected production and development plan, natural gas, NGLs and oil prices, Antero Midstream's ability to realize the anticipated benefits of its investments in unconsolidated affiliates, Antero Midstream's ability to execute its share repurchase and dividend program, Antero Midstream's ability to execute its business strategy, impacts of geopolitical events, including the conflicts in Ukraine, Venezuela and in the Middle East, and world health events, information regarding long-term financial and operating outlooks for Antero Midstream and Antero Resources, information regarding Antero Resources' expected future growth and its ability to meet its drilling and development plan and the participation level of Antero Resources' drilling partner, the impact on demand for Antero Midstream's services as a result of incremental production by Antero Resources, the impact of recently enacted legislation, and expectations regarding the amount and timing of litigation awards are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on management's current beliefs, based on currently available information, as to the outcome and timing of future events. All forward-looking statements speak only as of the date of this release. Although Antero Midstream believes that the plans, intentions and expectations reflected in or suggested by the forward-looking statements are reasonable, there is no assurance that these plans, intentions or expectations will be achieved. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Except as required by law, Antero Midstream expressly disclaims any obligation to and does not intend to publicly update or revise any forward-looking statements.
Antero Midstream cautions you that these forward-looking statements are subject to all of the risks and uncertainties incidental to our business, most of which are difficult to predict and many of which are beyond Antero Midstream's control. These risks include, but are not limited to, risks associated with the successful integration and future performance of acquired assets and operations, commodity price volatility, inflation, supply chain or other disruptions, environmental risks, Antero Resources' drilling and completion and other operating risks, regulatory changes or changes in law, the uncertainty inherent in projecting Antero Resources' future rates of production, cash flows and access to capital, the timing of development expenditures, impacts of world health events, cybersecurity risks, the state of markets for, and availability of, verified quality carbon offsets and the other risks described under the heading "Risk Factors" in Antero Midstream's Annual Report on Form 10-K for the year ended December 31, 2025 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026..
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Balance Sheets
(In thousands, except per share amounts)
(Unaudited)
December31,
March31,
2025
2026
Assets
Current assets:
Cash and cash equivalents
$
180,435
—
Restricted cash
82,500
—
Accounts receivable–Antero Resources
106,771
147,086
Accounts receivable–third party
993
3,156
Income tax receivable
1,896
1,896
Current assets held for sale
4,600
—
Other current assets
2,669
2,804
Total current assets
379,864
154,942
Long-term assets:
Property and equipment, net
3,454,572
3,931,657
Investments in unconsolidated affiliates
585,778
580,970
Customer relationships
1,074,087
1,682,303
Operating leases right-of-use assets
—
46,156
Assets held for sale
379,036
—
Other assets, net
10,779
9,836
Total assets
$
5,884,116
6,405,864
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable–Antero Resources
$
5,366
9,003
Accounts payable–third party
10,368
15,862
Accrued liabilities
91,527
117,576
Short-term lease liabilities
—
13,176
Current liabilities held for sale
2,297
—
Other current liabilities
1,924
1,633
Total current liabilities
111,482
157,250
Long-term liabilities:
Long-term debt
3,222,530
3,665,937
Deferred income tax liability, net
562,996
600,634
Long-term lease liabilities
—
33,415
Liabilities held for sale
3,021
—
Other
12,046
12,179
Total liabilities
3,912,075
4,469,415
Stockholders' equity:
Preferred stock, $0.01 par value: 100,000 authorized as of December 31, 2025 and
March 31, 2026
Series A non-voting perpetual preferred stock; 12 designated and 10 issued and
outstanding as of December 31, 2025 and March 31, 2026
—
—
Common stock, $0.01 par value; 2,000,000 authorized; 474,060 and 475,028 issued and
outstanding as of December 31, 2025 and March 31, 2026, respectively
4,741
4,750
Additional paid-in capital
1,952,524
1,827,496
Retained earnings
14,776
104,203
Total stockholders' equity
1,972,041
1,936,449
Total liabilities and stockholders' equity
$
5,884,116
6,405,864
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)
(In thousands, except per share amounts)
Three Months Ended March 31,
2025
2026
Revenue:
Gathering and compression–Antero Resources
$
238,017
261,999
Gathering and compression–third party
—
295
Water handling–Antero Resources
70,275
72,816
Water handling–third party
505
311
Amortization of customer relationships
(17,668)
(21,210)
Total revenue
291,129
314,211
Operating expenses:
Direct operating
56,830
70,697
General and administrative (including $12,402 and $10,579 of equity-based
compensation in 2025 and 2026, respectively)
23,024
22,347
Facility idling
443
545
Depreciation
32,748
34,635
Impairment of property and equipment
817
—
Gain on long-lived assets
—
(2,658)
Other operating expense, net
44
34
Total operating expenses
113,906
125,600
Operating income
177,223
188,611
Other income (expense):
Interest expense, net
(48,410)
(54,029)
Equity in earnings of unconsolidated affiliates
28,020
30,012
Transaction expense
—
(8,689)
Total other expense
(20,390)
(32,706)
Income before income taxes
156,833
155,905
Income tax expense
(36,096)
(37,639)
Net income and comprehensive income
$
120,737
118,266
Net income per common share–basic
$
0.25
0.25
Net income per common share–diluted
$
0.25
0.25
Weighted average common shares outstanding:
Basic
479,064
473,866
Diluted
484,378
477,963
ANTERO MIDSTREAM CORPORATION
Selected Operating Data (Unaudited)
Amount of
Three Months Ended March 31,
Increase
Percentage
2025
2026
or Decrease
Change
Operating Data:
Gathering (MMcf)
301,298
342,446
41,148
14
%
Centralized compression (MMcf)
299,718
303,328
3,610
1
%
High pressure gathering (MMcf)
279,579
281,950
2,371
1
%
Fresh water delivery (MBbl)(1)
9,415
7,506
(1,909)
(20)
%
Other water handling (MBbl)(2)
5,179
8,359
3,180
61
%
Wells serviced by fresh water delivery
28
26
(2)
(7)
%
Gathering (MMcf/d)
3,348
3,805
457
14
%
Centralized compression (MMcf/d)
3,330
3,370
40
1
%
High pressure gathering (MMcf/d)
3,106
3,133
27
1
%
Fresh water delivery (MBbl/d)(1)
105
83
(22)
(21)
%
Other water handling (MBbl/d)(2)
58
93
35
60
%
Average Realized Fees(3):
Gathering ($/Mcf)
$
0.36
0.37
0.01
3
%
Centralized compression ($/Mcf)
$
0.22
0.22
—
*
High pressure gathering ($/Mcf)
$
0.23
0.23
—
*
Fresh water delivery ($/Bbl)(1)
$
4.38
4.44
0.06
1
%
Joint Venture Operating Data:
Processing (MMcf)
148,523
153,722
5,199
4
%
Fractionation (MBbl)
3,600
3,600
—
*
Processing (MMcf/d)
1,650
1,708
58
4
%
Fractionation (MBbl/d)
40
40
—
*
*Not meaningful or applicable.
(1)
Fresh water delivery includes fresh water charged at a fixed fee under our water services agreement with Antero Resources.
(2)
Other water handling includes fresh water charged at cost plus 3% for services provided to Antero Resources on its acreage acquired from HG Production and our other fluid handling services charged at cost plus 3% or cost of service.
(3)
The average realized fees for the three months ended March 31, 2026 include annual CPI-based adjustments of approximately 1.5%.
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Results of Segment Operations (Unaudited)
(In thousands)
Three Months Ended March 31, 2026
Gathering and
Water
Consolidated
(in thousands)
Processing
Handling
Unallocated (1)
Total
Revenues:
Revenue–Antero Resources
$
261,999
72,816
—
334,815
Revenue–third-party
295
311
—
606
Amortization of customer relationships
(12,384)
(8,826)
—
(21,210)
Total revenues
249,910
64,301
—
314,211
Operating expenses:
Direct operating
30,030
40,667
—
70,697
General and administrative (excluding equity-based compensation)
7,226
3,281
1,261
11,768
Equity-based compensation
7,596
2,669
314
10,579
Facility idling
—
545
—
545
Depreciation
17,844
16,791
—
34,635
Loss on long-lived assets
(3,229)
571
—
(2,658)
Other operating expense, net
—
34
—
34
Total operating expenses
59,467
64,558
1,575
125,600
Operating income (loss)
190,443
(257)
(1,575)
188,611
Other income (expense):
Interest expense, net
—
—
(54,029)
(54,029)
Equity in earnings of unconsolidated affiliates
30,012
—
—
30,012
Transaction expense
—
—
(8,689)
(8,689)
Total other income (expense)
30,012
—
(62,718)
(32,706)
Income (loss) before income taxes
220,455
(257)
(64,293)
155,905
Income tax expense
—
—
(37,639)
(37,639)
Net income (loss) and comprehensive income (loss)
$
220,455
(257)
(101,932)
118,266
(1) Corporate expenses that are not directly attributable to either the gathering and processing or water handling segments.
ANTERO MIDSTREAM CORPORATION
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
Three Months Ended March 31,
2025
2026
Cash flows provided by (used in) operating activities:
Net income
$
120,737
118,266
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation
32,748
34,635
Impairment of property and equipment
817
—
Deferred income tax expense
34,416
37,639
Equity-based compensation
12,402
10,579
Equity in earnings of unconsolidated affiliates
(28,020)
(30,012)
Distributions from unconsolidated affiliates
33,375
35,720
Amortization of customer relationships
17,668
21,210
Amortization of deferred financing costs
1,307
1,512
Settlement of asset retirement obligations
(210)
(34)
Gain on long-lived assets
—
(2,658)
Other operating activities
44
34
Changes in assets and liabilities:
Accounts receivable–Antero Resources
(8,825)
(8,450)
Accounts receivable–third party
35
(246)
Other current assets
(695)
(99)
Accounts payable–Antero Resources
1,629
982
Accounts payable–third party
1,056
6,350
Income taxes payable
1,783
—
Accrued liabilities
(21,325)
13,196
Net cash provided by operating activities
198,942
238,624
Cash flows provided by (used in) investing activities:
Additions to gathering systems, facilities and other
(22,081)
(19,437)
Additions to water handling systems
(8,447)
(18,469)
Additional investments in unconsolidated affiliate
(1,748)
(900)
Acquisition of HG Midstream
—
(1,120,593)
Proceeds from asset sales
5
378,628
Net cash used in investing activities
(32,271)
(780,771)
Cash flows provided by (used in) financing activities:
Dividends to common stockholders
(112,615)
(111,096)
Dividends to preferred stockholders
(138)
(138)
Repurchases of common stock
(28,569)
(18,013)
Borrowings on Credit Facility
304,300
1,076,900
Repayments on Credit Facility
(311,200)
(634,500)
Payments of deferred financing costs
—
(1,319)
Employee tax withholding for settlement of equity-based compensation awards
(18,449)
(32,536)
Payments on capital lease obligations
—
(86)
Net cash provided by (used in) financing activities
(166,671)
279,212
Net decrease in cash, cash equivalents and restricted cash
—
(262,935)
Cash, cash equivalents and restricted cash, beginning of period
—
262,935
Cash, cash equivalents and restricted cash, end of period
$
—
—
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
65,272
44,525
Increase in accrued capital expenditures and accounts payable for property and equipment
5,012
3,146
Increase in accounts receivable–Antero Resources and accounts receivable–third party for the acquisition of HG Midstream
—
11,830
Right-of-use assets obtained in exchange for new operating lease obligations
Antero Midstream now guides for single-digit growth. AM's stock price has risen substantially since 2020. That rise has pushed valuation metrics, including a P/E ratio nearing 20, to uncomfortable highs. Current pricing exposes investors to downside risk relative to historical valuation norms.
Antero Midstream generated $288 million in Q1 2026 adjusted EBITDA with a partial quarter contribution from its HG Midstream acquisition. It expects roughly $309 million per quarter in adjusted EBITDA during the rest of the year. Future growth results in a projected $1.4 billion in 2028 adjusted EBITDA in a base case scenario and $1.5 billion in an upside scenario.
Key Takeaways Antero Midstream missed EPS estimates as higher operating expenses offset strong revenue growth.Antero Midstream revenues rose 7.9% y/y, driven by 14% growth in gathering volumes and higher throughput.AM's operating cash flow climbed to $238.6M, supporting dividends, buybacks and growth investments. Antero Midstream (AM - Free Report) reported first-quarter 2026 earnings per share of 25 cents, missing the Zacks Consensus Estimate of 26 cents by 3.9%. Earnings were in line with the year-ago quarter’s level of 25 cents.
Total quarterly revenues of $314.21 million beat the Zacks Consensus Estimate of $300.07 million by 4.7%. The top line also improved 7.9% from $291.13 million in the year-ago quarter. Full capacity utilization in processing and fractionation underscored robust demand despite inflationary cost pressures.
The lower-than-expected quarterly earnings can be attributed to an increase in total operating expenses. However, higher gathering and compression volumes partially offset the negatives.
AM's Revenue Mix Improved on Gathering StrengthGathering and centralized compression revenues rose to $262.00 million from $238.02 million a year ago, driven by higher throughput. Total average daily gathering volumes increased 14% year over year to 3,805 million cubic feet (MMcf/d) from 3,348 MMcf/d, reflecting continued activity on AM’s dedicated acreage. The reported figure was above our estimate of 3,361 MMcf/d. On a per-Mcf basis, the average gathering fee increased 3% from 36 cents a year ago to 37 cents.
High-pressure gathering volumes totaled 3,133 MMcf/d, up 1% from the year-ago level of 3,106 MMcf/d. Our estimate for the same was 3,185 MMcf/d. On a per-Mcf basis, the average high-pressure gathering fee was 23 cents, which remained flat year over year. The reported figure met our estimate of 23 cents.
Centralized compression volumes averaged 3,370 MMcf/d compared with 3,330 MMcf/d a year ago. The figure was below our estimate of 3,400 MMcf/d. On a per-Mcf basis, the average centralized compression fee was 23 cents, which remained flat year over year. The reported figure met our estimate of 23 cents.
Antero Midstream's Water Handling Mix Shifted SharplyFresh water delivery volumes averaged 83 MBbl/d, down 21% from 105 MBbl/d in the prior-year quarter, pointing to a different cadence of completion activity on the legacy system. The figure was below our estimate of 106 MBbl/d. On a per-barrel basis, the average realized fresh water delivery fee was $4.44 compared with $4.38 a year ago, reflecting annual CPI-based adjustments embedded in the contracts. The figure was above our estimate of $4.39.
Other water handling volumes jumped to 93 MBbl/d from 58 MBbl/d, a 60% increase year over year. This category includes services on acreage acquired from HG Production as well as other fluid-handling work charged under cost-plus arrangements, helping explain the sharp shift in the water mix during the quarter. The figure was above our estimate of 61 MBbl/d.
AM's Operating Expenses Rose as the Quarter Stayed BusyTotal operating expenses increased to $125.60 million from $113.91 million in the prior-year quarter. Direct operating expenses climbed to $70.70 million from $56.83 million a year ago.
Below the operating line, interest expense, net, increased to $54.03 million from $48.41 million in the year-ago quarter, which management tied to financing associated with the HG Energy acquisition. The quarter also included $8.69 million of transaction expenses related to the HG Midstream acquisition, contributing to the earnings shortfall versus the Zacks estimate despite the revenue beat.
Antero Midstream's Cash Flow Covered Dividends & BuybacksOperating cash flow increased in the first quarter of 2026 with net cash provided by operating activities of $238.62 million compared with $198.94 million in the year-ago quarter. On a non-GAAP basis, adjusted free cash flow after dividends was $85.28 million, up from $79.06 million a year ago.
AM reported capital expenditures of $42 million during the quarter, including $26 million for gathering and compression and $15 million for water infrastructure. The company also repurchased 1.0 million shares for $18 million and ended the quarter with about $318 million of remaining capacity under its repurchase authorization, keeping capital return in focus alongside growth investments.
Balance Sheet of AMAs of March 31, 2026, the company had a long-term debt of $3.67 billion with no cash and cash equivalent in hand.
AM Targets Integration Milestones and New Demand ProjectsManagement highlighted that the newly acquired assets were integrated during Winter Storm Fern with no service interruptions. Commissioning of the dry gas compression expansion is complete and integration of the water systems is underway, with full completion expected by year-end.
Looking ahead, the company is capitalizing on local power and data center opportunities to drive future growth. Work has already begun on the HG assets integration, focusing specifically on water systems. Management expects to deliver high single-digit EBITDA growth in the coming days, driven by enhanced connectivity and active development across rich gas, dry gas and blended areas.
AM’s Zacks Rank & Key PicksAM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Chevron Corporation (CVX - Free Report) , Kinder Morgan, Inc. (KMI - Free Report) and Eni S.p.A. (E - Free Report) . CVX, KMI and E each sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chevron reported first-quarter 2026 adjusted earnings per share of $1.41, which beat the Zacks Consensus Estimate of 92 cents.
As of March 31, 2026, CVX reported $5.3 million in cash and cash equivalents. At the quarter's end, its total debt amounted to $45.4 billion.
Kinder Morgan reported first-quarter 2026 adjusted earnings per share (EPS) of 48 cents, which beat the Zacks Consensus Estimate of 38 cents.
As of March 31, 2026, KMI reported $72 million in cash and cash equivalents. At the quarter's end, its long-term debt amounted to $29.72 billion.
Eni reported first-quarter 2026 adjusted earnings from continuing operations of 81 cents per American Depository Receipt, which missed the Zacks Consensus Estimate of $1.13.
As of March 31, 2026, E had a long-term debt of €21.7 billion and cash and cash equivalents of €8.3 billion.
Just over four months into 2026, and it's not a stretch to say the daily barrage of oil price headlines wears out investors. To put things succinctly, the war in Iran (yes, you've heard this before) pushed crude prices higher.
West Texas Intermediate (WTI) futures are down 16.6% for the month ending May 7 but are hovering around $95 a barrel late on May 7. That's still too high because it's demand-destructive and likely to weigh on the upcoming summer travel season. That's the bad news, but the good news is that energy investors are reaping rewards.
This quartet of oil dividend stocks is worth examining this month. Image source: Getty Images.
The Energy Select Sector SPDR ETF (XLE +1.37%) is up 39.4% year to date. On top of that, the bellwether energy exchange-traded fund (ETF) carries a dividend yield of 2.67%, or more than double what investors earn on an S&P 500 index fund. Speaking of payouts, 82 energy stocks trading in the U.S. yield 3%. Here's a "barrel" of four worth examining this month.
Angles on Antero Antero Midstream (AM +2.08%) is part of an expansive group of pipeline stocks with tempting dividend yields. In this case, we're talking 4.3%. The door may be ajar for value hunters with Antero, as the shares are off 6.3 over the past month, with roughly half of that loss accruing over the past week, indicating investors were dissatisfied with the company's first-quarter earnings update delivered on April 29.
The post-earnings decline may be a symptom of flat year-over-year net income, but a close examination of the results reveals some green shoots. For example, gathering volumes jumped 14% from the year-earlier period, while free cash flow increased by 8%. Plus, Antero repurchased $18 million worth of its shares during the quarter.
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This midstream energy company has $318 million remaining on an existing buyback program, and Q1 marked the 46th consecutive quarter in which Antero has paid a dividend since its November 2014 initial public offering (IPO). The point is that Antero prioritizes returning capital to investors in two forms.
Chevron: Dividend reliability in the oil patch When it comes to energy-sector dividend reliability, Chevron (CVX +1.25%) is nearly unrivaled. The yield of 3.8% is appealing, particularly relative to the broader sector and the S&P 500, but even more impressive is a streak of 39 consecutive years of payout increases. The implication there is that this dividend isn't highly sensitive to oil prices.
Regarding oil prices, that issue is primary near-term headwind or tailwind to Chevron stock. The aforementioned decline in crude prices sent this stock down 5.3% over the past month, but that retrenchment isn't a threat to shareholder rewards.
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At its November 2025 investor day, Chevron forecast capital spending and dividend "breakeven" below $50 per barrel in Brent crude terms through 2030. The company also noted that it has repurchased shares in 18 of the prior 22 years and that it will retire $10 billion to $20 billion of its shares per year through 2030 at average Brent prices of $60 to $80. Brent traded around $102.50 on May 7, suggesting Chevron's shareholder rewards are likely safe in the long term.
For a big yield, meet MPLX MPLX LP (MPLX +1.43%) is a midstream shale operator with an eye-catching dividend yield of 8.3%. That certainly puts this energy into the conversation about high-yield dividend stocks, particularly the energy variety, but investors don't need to worry about it being a yield trap.
In the first quarter, MPLX generated adjusted free cash flow of $549 million, and its distribution of $1.07 per share was covered by 1.3x. Plus, the company concluded the quarter with $1.5 billion in cash and access to another $3.5 billion in liquidity. Alone, the cash-on-hand war chest implies the distribution is safe, if not in a position to grow.
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And for good measure, MPLX bought $50 million worth of stock in the first three months and has $1.1 billion remaining on its buyback plan, confirming it has avenues to reduce its shares outstanding count while boosting earnings.
Examining EOG EOG Resources (EOG +1.22%) has also been stung by oil's recent pullback, not surprising given that it is an exploration and production company, but that retrenchment could prove to be a buying opportunity. When it delivered Q1 results on May 5, EOG told investors it expects to slightly increase 2026 production of oil and natural gas liquids (NGLs) while keeping spending unchanged at $6.5 billion.
EOG, which yields 3.2%, spent nearly $1 billion in the first three months of the year on buybacks and dividends, and those efforts are not taxing it because it generated $1.5 billion in free cash flow during that period.
While EOG isn't the highest yielder in the oil patch, it's arguably one of the safer dividend payers in the group. Its payout increase streak is approaching a decade, and it concluded the March quarter with $3.85 billion in cash, giving it one of the strongest balance sheets among domestic independent energy producers.
Results from Study AM-001 mark a pivotal advance through the transition to a once daily lower 400mg dose of AM enabling:
Production of GMP clinical batch for Galmed's upcoming clinical trials Solidification and prolongation of Aramchol's IP protection Potential reduction in drug CoGs by ~50% Improvement in patients' convenience and compliance upon potential commercialization , /PRNewswire/ -- Galmed Pharmaceuticals Ltd. (NASDAQ: GLMD) ("Galmed" or the "Company"), a clinical-stage biopharmaceutical company for liver disease and GI oncological therapeutics, announced today major milestone results from a Phase 1 PK study in healthy subjects (Study AM-001). The overall objective of the study was to identify the dose of Aramchol meglumine (AM) administered once daily that produces similar exposure to Aramchol from 300mg Aramchol free acid (AA) tablets dosed twice daily. Single doses of AM granules for oral suspension of 400 mg and 200mg were evaluated and compared to AA 300mg tablet. The study demonstrated that the bioavailability of Aramchol from the Aramchol meglumine granules for oral suspension is considerably greater (approximately 5-fold and 3-fold respectively) than that from Aramchol free acid tablets. An additional PK study (AM-003) comparing AM 400mg tablets once daily with AA 300mg tablets twice daily is ongoing.
Aramchol down-regulates stearoyl CoA desaturase 1 (SCD1) in hepatocytes and in hepatic stellate cells (HSC's) and other tissues including various cancers. Metabolic-dysfunction associated steatohepatitis (MASH) (previously called non-alcoholic steatohepatitis (NASH)) is a common serious type of fatty liver disease often leading to cirrhosis, liver failure and sometimes to hepatocellular carcinoma. In Phase 2 and Phase 3 (open label part) clinical trials 600mg Aramchol reduced liver fat, attenuated steatohepatitis and demonstrated robust anti-fibrotic effects. To date ~ 600 adults have received single or multiple doses of Aramchol free acid, including ~240 healthy subjects and 360 patients with MASH.
Allen Baharaff, Galmed's Co-founder and CEO, commented: "A once daily lower dose of Aramchol meglumine is advantageous for compliance as monotherapy or in combination with other MASH candidates. Aramchol is currently being evaluated in multiple pre-clinical studies to overcome drug resistance and enhance the efficacy of standard-of-care (SoC) oncology agents for GI cancer treatments. A higher exposure will be needed in order to leverage Aramchol's multi-system therapeutic potential, well beyond its initial MASH applications. We believe that today's announced pivotal development positions Aramchol as a potential valuable tool in the arsenal of treatments for GI conditions including MASH and GI cancers and strengthens Galmed position in the GI space."
About Galmed Pharmaceuticals Ltd.:
We are a biopharmaceutical company focused on the development of Aramchol. We have focused almost exclusively on developing Aramchol for the treatment of liver disease, and we are currently seeking to advance the development of Aramchol for oncological indications beyond NASH and fibrosis. In addition, as part of our growth strategy, we are actively pursuing opportunities to expand and diversify our product pipeline, specifically targeting cardiometabolic and neurological indications and other innovative product candidates that align with our core expertise in drug development.
Forward-Looking Statements:
Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to the potential commercialization of Aramchol, the Company's belief that the pivotal development positions Aramchol as a potential valuable tool in the arsenal of treatments for GI conditions including MASH and GI cancers and strengthens Galmed position in the GI space. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the development and approval of the use of Aramchol or any other product candidate for indications outside of non-alcoholic steatohepatitis, or NASH, also known as metabolic dysfunction-associated steatohepatitis, or MASH, and fibrosis or in combination therapy; the timing and cost of any pre-clinical or clinical trials of Aramchol or any other product candidate we develop; completion and receiving favorable results of any pre-clinical or clinical trial; regulatory action with respect to Aramchol or any other product candidate by the U.S. Food and Drug Administration, or the FDA, or the European Medicines Authority, or EMA, including but not limited to acceptance of an application for marketing authorization, review and approval of such application, and, if approved, the scope of the approved indication and labeling; the commercial launch and future sales of Aramchol and any future product candidates; our ability to comply with all applicable post-market regulatory requirements for Aramchol, or any other product candidate in the countries in which we seek to market the product; our ability to achieve favorable pricing for Aramchol, or any other product candidate; third-party payor reimbursement for Aramchol, or any other product candidate; our estimates regarding anticipated capital requirements and our needs for additional financing; market adoption of Aramchol or any other product candidate by physicians and patients; the timing, cost or other aspects of the commercial launch of Aramchol or any other product candidate; our ability to obtain and maintain adequate protection of our intellectual property; the possibility that we may face third-party claims of intellectual property infringement; our ability to manufacture our product candidates in commercial quantities, at an adequate quality or at an acceptable cost; our ability to establish adequate sales, marketing and distribution channels; intense competition in our industry, with competitors having substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales, distribution and personnel resources than we do; our expectations regarding licensing, acquisitions and strategic operations; current or future unfavorable economic and market conditions and adverse developments with respect to financial institutions and associated liquidity risk; our ability to maintain the listing of our ordinary shares on The Nasdaq Capital Market; and the security, political and economic instability in the Middle East that could harm our business, including due to the current security situation in Israel. We believe these forward-looking statements are reasonable; however, these statements are only current predictions and are subject to known and unknown risks, uncertainties and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from those anticipated by the forward-looking statements. We discuss many of these risks in our Annual Report on Form 20-F for the year ended December 31, 2025, filed with the SEC on March 31, 2026 in greater detail under the heading "Risk Factors." Given these uncertainties, you should not rely upon forward-looking statements as predictions of future events. All forward-looking statements attributable to us or persons acting on our behalf speak only as of the date hereof and are expressly qualified in their entirety by the cautionary statements included in this report. We undertake no obligations to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. In evaluating forward-looking statements, you should consider these risks and uncertainties.
