|Over a month ago|
Antero Midstream reports Q2 adjusted EPS 23c, consensus 19c » 17:0007/2807/28/21
Reports Q2 revenue $233M,…
Reports Q2 revenue $233M, consensus $220.78M. Q2 ow pressure gathering volumes averaged 2,897 MMcf/d, a 1% increase vs. the prior year quarter. Compression volumes for Q2 averaged 2,744 MMcf/d, a 1% increase vs. 2Q20. Q2 high pressure gathering volumes averaged 2,826 MMcf/d, in line with 2Q20. Q2 fresh water delivery volumes averaged 104 MBbl/d, a 2% increase vs. 2Q20. CEO Paul Rady said, "Antero Midstream delivered another strong quarter operationally with year-over-year volumetric and Free Cash Flow growth. This was a direct result of Antero Midstream's focus on operating expense and capital efficiencies, as well as high asset utilization rates across our integrated assets. In addition, Antero Midstream realized consistent volumetric throughput during the quarter, benefitting from Antero Resources' firm transportation portfolio which allowed it to avoid the volatility in local Appalachian basis. Antero Midstream continues to demonstrate the ability to deliver attractive returns through organic capital investments. These organic capital investments with high utilization rates have allowed us to consistently generate mid-teen returns on invested capital."
|Over a quarter ago|
Antero Midstream downgraded to Hold from Buy at JonesTrading » 16:0306/0806/08/21
JonesTrading analyst Eduardo Seda downgraded Antero Midstream to Hold from Buy and removing his price target, noting that the estimated total return potential has fallen below the firm's cutoff for a higher rating.
Antero Midstream downgraded to Sell from Hold at Tudor Pickering » 08:4605/2605/26/21
Tudor Pickering analyst…
Tudor Pickering analyst Colton Bean downgraded Antero Midstream to Sell from Hold with an $8 price target.
Antero Midstream reports Q1 adjusted EPS 21c, consensus 20c » 16:5404/2804/28/21
Reports Q1 revenue $224M,…
Reports Q1 revenue $224M, consensus $220.92M. CEO Paul Rady said, "Antero Midstream delivered another strong operational quarter focused on cost reductions and capital discipline. This allowed us to generate $146M of Free Cash Flow before dividends and for the second time in company history, generate Free Cash Flow after dividends. We believe this capital discipline and the ability to internally finance both our capital budget and return of capital to shareholders will serve Antero Midstream well going forward. Antero Midstream's primary customer, Antero Resources, made significant strides in improving its financial strength, generating over $400M of Free Cash Flow during the first quarter. As a result of Antero Resources' Free Cash Flow profile, Antero Resources' leverage has significantly improved to 2.0x as of March 31, 2021. This improvement in financial strength at Antero Resources directly benefits Antero Midstream."
Antero Resources CFO Glen Warren to retire » 17:5304/0804/08/21
Antero Resources Corporation (AR) and Antero Midstream Corporation (AM) announced that Glen Warren will retire as President and Chief Financial Officer of Antero Resources and President of Antero Midstream, effective April 30, 2021. Warren will also step down from the board of both companies as of the same date. "Glen has been a visionary leader in the energy industry over the last several decades," said Paul Rady, Co-Founder, Chairman and CEO of Antero Resources and Antero Midstream. "For more than 20 years, Glen and I have been partners across a number of successful plays and organizations. We were some of the first successful players in unconventional resources, initially in coal bed methane in the Powder River Basin, then in the Barnett Shale where we were early adopters of horizontal drilling and multi-stage completions. Since first entering Appalachia in 2008, Glen has been instrumental in growing Antero Resources into the second largest NGL producer and the third largest natural gas producer in the United States today. Under Glen's co-leadership, Antero Resources has reset its balance sheet and cost structure, is generating significant free cash flow and expects to reduce leverage below 2.0x in 2021. In addition, Antero Midstream is now one of the only midstream companies in the industry with the optimum combination of c-corp governance, a self-funding business model after dividends, long-term growth and a declining leverage profile with already one of the strongest balance sheets in the midstream industry. Despite the challenges facing the energy industry over the last several years, Glen has helped reposition both Antero Resources and Antero Midstream to succeed for many years to come. His impact can be seen on our people, assets, balance sheets and performance. I wish Glen all the best in the next chapter of his life."
Antero Midstream downgraded to Sell from Neutral at Goldman Sachs » 17:4703/1103/11/21
Goldman Sachs analyst…
Goldman Sachs analyst John Mackay downgraded Antero Midstream to Sell from Neutral with a $7.50 price target. The analyst said the stock has traded well, and while he remains generally positive on the macro environment for midstream, he sees Antero Midstream as having more than outpaced reasonable valuation levels relative to its peers and history, especially given the company's limited direct operating leverage to higher commodity prices. Jackay added that when the energy high-beta rally eventually slows, he expects investors to shift focus to midstream firms with higher asset quality and fewer governance concerns.
Antero Resources upgraded to Equal Weight from Underweight at Morgan Stanley » 06:5903/1103/11/21
Morgan Stanley analyst…
Morgan Stanley analyst Mark Carlucci upgraded Antero Resources (AR) to Equal Weight from Underweight with a price target of $11, up from $6, citing the more constructive commodity backdrop and what he sees as a "step-change" in the company's leverage profile. Carlucci also cites an improved outlook for Antero Midstream (AM), in which Antero Resources has a 29% equity interest.
Antero Midstream falls -9.9% » 10:0002/1802/18/21
Antero Midstream is down…
Antero Midstream is down -9.9%, or -91c to $8.24.
Antero Midstream sees FY21 adjusted EBITDA $840M-$880M » 16:3902/1702/17/21
Sees FY21 capital budget…
Sees FY21 capital budget $240M-$260M.
Antero Midstream reports Q4 adjusted EPS 21c, consensus 20c » 16:3902/1702/17/21
Reports Q4 revenue…
Reports Q4 revenue $239.07M, consensus $197.56M. Paul Rady, Chairman and CEO said, "In a separate release, Antero Resources announced the formation of a drilling partnership through 2024 that is expected to result in incremental throughput and fresh water volume growth on Antero Midstream dedicated acreage. As a result, Antero Midstream is forecasting a 2021 capital budget of $240 to $260 million, reflecting approximately $65 million of incremental capital that has been accelerated into 2021 above the previous maintenance capital program. To fund this acceleration, Antero Midstream expects to reallocate a portion of its dividend payments to fund the associated infrastructure projects supporting the increased volumes and water usage anticipated due to the drilling partnership. This reallocation is expected to allow Antero Midstream to internally fund these attractive rate of return projects without adding leverage or total debt."