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AM

Antero MidstreamNYSE:AM Stock Report

Market Cap

US$4.8b

7D

-0.3%

1Y

49.4%

Updated

30 Nov, 2021

Data

Company Financials +
AM fundamental analysis
Snowflake Score
Valuation4/6
Future Growth2/6
Past Performance3/6
Financial Health2/6
Dividends2/6

AM Stock Overview

Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure.

Antero Midstream Competitors

Enterprise Products Partners

NYSE:EPD

US$47.3b

Kinder Morgan

NYSE:KMI

US$36.3b

Williams Companies

NYSE:WMB

US$34.3b

MPLX

NYSE:MPLX

US$30.6b

Price History & Performance

Summary of all time highs, changes and price drops for Antero Midstream
Historical stock prices
Current Share PriceUS$10.07
52 Week HighUS$11.71
52 Week LowUS$6.56
Beta2.89
1 Month Change-5.36%
3 Month Change4.79%
1 Year Change49.41%
3 Year Change-33.49%
5 Year Changen/a
Change since IPO-54.23%

Recent News & Updates

Nov 18

Antero Midstream: Sleep Well At Night With This 8.5% Yielding Nat Gas Play

Antero Midstream distributes natural gas and offers an 8.5% dividend yield. Natural gas will become much more common as the world continues its path to decarbonization. The company is being conservative with its operations, having learned the hard way in 2019/2020, making this a great play for conservative investors.

Oct 14
Is Antero Midstream Corporation (NYSE:AM) Trading At A 39% Discount?

Is Antero Midstream Corporation (NYSE:AM) Trading At A 39% Discount?

How far off is Antero Midstream Corporation ( NYSE:AM ) from its intrinsic value? Using the most recent financial data...

Shareholder Returns

AMUS Oil and GasUS Market
7D-0.3%0.1%-0.9%
1Y49.4%54.7%23.3%

Return vs Industry: AM underperformed the US Oil and Gas industry which returned 54.7% over the past year.

Return vs Market: AM exceeded the US Market which returned 23.3% over the past year.

Price Volatility

Is AM's price volatile compared to industry and market?
AM volatility
AM Average Weekly Movement4.0%
Oil and Gas Industry Average Movement7.2%
Market Average Movement6.0%
10% most volatile stocks in US Market15.0%
10% least volatile stocks in US Market2.3%

Stable Share Price: AM is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: AM's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2013522Paul Radyhttps://www.anteromidstream.com

Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. It operates through two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources’ wells in West Virginia and Ohio.

Antero Midstream Fundamentals Summary

How do Antero Midstream's earnings and revenue compare to its market cap?
AM fundamental statistics
Market CapUS$4.81b
Earnings (TTM)US$328.90m
Revenue (TTM)US$956.24m

14.6x

P/E Ratio

5.0x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AM income statement (TTM)
RevenueUS$956.24m
Cost of RevenueUS$154.91m
Gross ProfitUS$801.33m
ExpensesUS$472.43m
EarningsUS$328.90m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.69
Gross Margin83.80%
Net Profit Margin34.39%
Debt/Equity Ratio133.9%

How did AM perform over the long term?

See historical performance and comparison

Dividends

8.9%

Current Dividend Yield

143%

Payout Ratio

Valuation

Is Antero Midstream undervalued compared to its fair value and its price relative to the market?

42.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AM ($10.07) is trading below our estimate of fair value ($17.65)

Significantly Below Fair Value: AM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: AM is good value based on its PE Ratio (14.6x) compared to the US Oil and Gas industry average (16x).

PE vs Market: AM is good value based on its PE Ratio (14.6x) compared to the US market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: AM is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: AM's PB Ratio (2.1x) is in line with the US Oil and Gas industry average.


Future Growth

How is Antero Midstream forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

9.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AM's forecast earnings growth (9.3% per year) is above the savings rate (2%).

Earnings vs Market: AM's earnings (9.3% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: AM's earnings are forecast to grow, but not significantly.

Revenue vs Market: AM's revenue (2.4% per year) is forecast to grow slower than the US market (10.1% per year).

High Growth Revenue: AM's revenue (2.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AM's Return on Equity is forecast to be high in 3 years time (20.3%)


Past Performance

How has Antero Midstream performed over the past 5 years?

-6.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AM has high quality earnings.

Growing Profit Margin: AM became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: AM has become profitable over the past 5 years, growing earnings by -6.8% per year.

Accelerating Growth: AM has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: AM has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (8.3%).


Return on Equity

High ROE: AM's Return on Equity (14.2%) is considered low.


Financial Health

How is Antero Midstream's financial position?


Financial Position Analysis

Short Term Liabilities: AM's short term assets ($87.5M) do not cover its short term liabilities ($118.7M).

Long Term Liabilities: AM's short term assets ($87.5M) do not cover its long term liabilities ($3.1B).


Debt to Equity History and Analysis

Debt Level: AM's net debt to equity ratio (133.8%) is considered high.

Reducing Debt: Insufficient data to determine if AM's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: AM's debt is well covered by operating cash flow (24.3%).

Interest Coverage: AM's interest payments on its debt are well covered by EBIT (3.3x coverage).


Balance Sheet


Dividend

What is Antero Midstream current dividend yield, its reliability and sustainability?

8.94%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AM's dividend (8.94%) is higher than the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: AM's dividend (8.94%) is in the top 25% of dividend payers in the US market (3.57%)


Stability and Growth of Payments

Stable Dividend: AM has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: AM's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (142.5%), AM's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AM's dividends in 3 years are not forecast to be well covered by earnings (92% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Paul Rady (67 yo)

2.67yrs

Tenure

US$2,691,539

Compensation

Mr. Paul M. Rady serves as Chief Executive Officer of TEP Rocky Mountain LLC. He serves as Chief Executive Officer and Chairman at Antero Midstream Corporation since March 2019 and its Director since 2019....


CEO Compensation Analysis

Compensation vs Market: Paul's total compensation ($USD2.69M) is below average for companies of similar size in the US market ($USD6.23M).

Compensation vs Earnings: Paul's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: AM's management team is considered experienced (3.8 years average tenure).


Board Members

Experienced Board: AM's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: AM insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Antero Midstream Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Antero Midstream Corporation
  • Ticker: AM
  • Exchange: NYSE
  • Founded: 2013
  • Industry: Oil and Gas Storage and Transportation
  • Sector: Energy
  • Market Cap: US$4.808b
  • Shares outstanding: 477.50m
  • Website: https://www.anteromidstream.com

Number of Employees


Location

  • Antero Midstream Corporation
  • 1615 Wynkoop Street
  • Denver
  • Colorado
  • 80202
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/11/30 00:29
End of Day Share Price2021/11/29 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.