AM
Antero Midstream PartnersNYSE
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  • Yesterday, 1:48 PM
    • Antero Midstream Partners (AM +0.6%) is upgraded to Buy from Hold with a $32 price target at Stifel, which cites a relatively increased level of state well permits during the last several months in Ohio and West Virginia.
    • While drilling activity - let alone when completion activity commences - can vary significantly from when a company receives the well permits, the firm views the increased cadence as early confirmation of AM's goal of 170-180 well completions in FY 2017.
    • Stifel also upgrades Martin Midstream Partners (MMLP +4.3%) to Buy from Hold with a $19 price target on valuation, as units are down ~19% since releasing Q3 earnings on Oct. 27; while MMLP remains a turnaround story, the firm thinks the valuation creates a buying opportunity and finds the 12% yield attractive.
    | Yesterday, 1:48 PM | 1 Comment
  • Fri, Oct. 28, 3:40 PM
    • Antero Midstream Partners (AM -3%) is downgraded to Hold from Buy with a $31 price target at Stifel, despite reporting strong Q3 results that beat consensus.
    • While AM did not raise its FY 2016 guidance and thus implies a small cash flow decline in Q4, Stifel continues see growth prospects as attractive and acknowledge management's fine execution.
    • However, the firm views the execution as largely priced in the current premium valuation, with units trading at ~15x EV/near-term EBITDA compared to peers at 12.9x.
    | Fri, Oct. 28, 3:40 PM
  • Wed, Oct. 26, 5:11 PM
    • Antero Midstream (NYSE:AM): Q3 EPS of $0.37 beats by $0.05.
    • Revenue of $150.5M (+84.2% Y/Y) beats by $2.11M.
    • Shares +1.6% AH.
    • Press Release
    | Wed, Oct. 26, 5:11 PM
  • Wed, Oct. 26, 5:11 PM
    • Antero Midstream (NYSE:AM) declares $0.265/share quarterly dividend, 6% increase from prior dividend of $0.25.
    • Forward yield 3.64%
    • Payable Nov. 24; for shareholders of record Nov. 10; ex-div Nov. 8.
    | Wed, Oct. 26, 5:11 PM
  • Tue, Aug. 2, 5:22 PM
    • Antero Midstream (NYSE:AM): Q2 EPS of $0.27 beats by $0.01.
    • Revenue of $136.8M (+55.3% Y/Y) misses by $3.56M.
    • Press Release
    | Tue, Aug. 2, 5:22 PM
  • Thu, Jul. 14, 7:28 AM
    • Antero Midstream (NYSE:AM) declares $0.25/share quarterly dividend, 6.4% increase from prior dividend of $0.235.
    • Forward yield 3.73%
    • Payable Aug. 24; for shareholders of record Aug. 10; ex-div Aug. 8.
    | Thu, Jul. 14, 7:28 AM
  • Thu, Jun. 9, 4:48 PM
    • Antero Resources (NYSE:AR) -2.5% AH after agreeing to acquire 55K net acres and 14M cfe/day of net production in West Virginia's Marcellus Shale from Southwestern Energy (NYSE:SWN) for $450M.
    • AR says substantially all the acreage will be dedicated to Antero Midstream Partners (NYSE:AM) for gas gathering, compression, processing and water services.
    • To fund the deal, AR announces a public offering of 26.75M common shares, with an underwriters option to purchase up to an additional ~4M shares.
    • SWN says it plans to use the cash from the deal to reduce the principal balance of its $750M term loan due in November 2018.
    | Thu, Jun. 9, 4:48 PM | 24 Comments
  • Thu, Jun. 9, 1:49 PM
    • Antero Midstream Partners (AM -2.2%) is lower despite earnings an upgrade to Outperform from Neutral with a $38 price target, raised from $29, at Baird, which says it gained conviction after meeting with management on AM's long-term volume growth "which underpins the 30% CAGR in distributions we expect through 2018."
    • Baird believes tightening oil and gas supply in combination with high guidance of volume growth likely will lead to a base case rather than a bear case for AM.
    • The firm also likes the option AM exercised to purchase a 15% non-operating equity interest in the Stonewall gathering pipeline.
    | Thu, Jun. 9, 1:49 PM
  • Wed, Apr. 27, 5:10 PM
    • Antero Midstream (NYSE:AM): Q1 Net income of $32.3M.
    • Revenue of $135.8M (+58.3% Y/Y) beats by $18.3M.
    | Wed, Apr. 27, 5:10 PM
  • Thu, Apr. 14, 8:51 AM
    • Antero Midstream (NYSE:AM) declares $0.235/share quarterly dividend, 6.8% increase from prior dividend of $0.22.
    • Forward yield 4.32%
    • Payable May 25; for shareholders of record May 11; ex-div May 9.
    | Thu, Apr. 14, 8:51 AM
  • Thu, Mar. 24, 12:47 PM
    | Thu, Mar. 24, 12:47 PM | 2 Comments
  • Thu, Mar. 24, 10:07 AM
    • Antero Midstream Partners (AM -12.8%) plunges at the open after Antero Resources (AR -1.8%) prices the sale of 8M of its units held in AM at $22.40/unit, for $179M in gross proceeds.
    • After the sale - and assuming no exercise of the underwriter's option to purchase 1.2M additional common units - AR will own ~62% of AM's outstanding common and subordinated units.
    • AM will receive no proceeds from the offering.
    | Thu, Mar. 24, 10:07 AM
  • Thu, Mar. 24, 9:18 AM
    | Thu, Mar. 24, 9:18 AM | 3 Comments
  • Wed, Mar. 23, 4:57 PM
    • Antero Resources (NYSE:AR) announces a public offering of 8M common units representing interests in Antero Midstream Partners (NYSE:AM), with an underwriters option to purchase up to an additional 1.2M units.
    • AR says it plans to use the proceeds to repay borrowings under its credit facility and to fund part of its 2016 development program; AM will receive no proceeds from the offering.
    | Wed, Mar. 23, 4:57 PM | 3 Comments
  • Thu, Mar. 17, 3:27 PM
    • Credit Suisse analyst John Edwards issues a dozen downgrades - and one upgrade - among MLPs following the group's recent rally, believing the severity of the oil downturn has called into question the entire MLP model.
    • "The prolonged downturn has challenged the robustness assumption on account of counterparty risks and contract renegotiation risks," Edwards writes.
    • Downgraded to Underperform from Neutral: Columbia Pipeline (CPGX +2.4%), Magellan Midstream Partners (MMP -0.6%), ONEOK Partners (OKS +0.8%).
    • Downgraded to Neutral from Outperform: Antero Midstream Partners (AM +0.8%), Enterprise Products Partners (EPD +2.7%), Enbridge Energy Partners (EEP +3.8%), EnLink Midstream Partners (ENLC +1.7%), Kinder Morgan (KMI +0.3%), Spectra Energy LP (SEP -0.1%), VTTI Energy Partners (VTTI +1.9%), Western Gas Equity Partners (WGP -0.1%), Western Gas Partners (WES +5%).
    • Upgraded to Outperform from Neutral: Enable Midstream Partners (ENBL +14.6%).
    | Thu, Mar. 17, 3:27 PM | 77 Comments
  • Wed, Feb. 24, 5:05 PM
    • Antero Midstream (NYSE:AM): Q4 Net Income of $49M.
    • Revenue of $131.69M (+30.7% Y/Y) beats by $42.92M.
    | Wed, Feb. 24, 5:05 PM | 1 Comment