Antero Midstream Corporation
- Open
- 22.77
- Day high
- 22.83
- Day low
- 22.52
- Prev close
- 22.75
- Volume
- 509K
- Mkt cap
- $10.8B
- P/E (TTM)
- 26.3
- EPS (TTM)
- $0.86
- P/B
- 5.6
- P/S
- 8.4
- Yield
- 3.97%
- Per share
- $0.90
- ▼Insiders net selling -$3.7M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Antero Midstream Corporation (AM) is a Energy company listed on NYSE. The stock is up 25% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Antero Midstream Corporation (AM) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $0.26 | $0.25 | -3.8% | $314M | +0.9% |
| Feb 11, 2026 | $0.24 | $0.11 | -54.2% | $315M | +0.6% |
| Oct 29, 2025 | $0.25 | $0.24 | -4.0% | $312M | +6.8% |
| Jul 30, 2025 | $0.25 | $0.26 | +5.3% | $323M | +7.7% |
| Apr 30, 2025 | $0.23 | $0.25 | +9.1% | $309M | +8.0% |
| Feb 12, 2025 | $0.24 | $0.23 | -4.2% | $305M | +11.7% |
| Jul 31, 2024 | $0.22 | $0.18 | -18.2% | $287M | +6.5% |
| Feb 14, 2024 | $0.21 | $0.21 | +0.0% | $278M | +8.0% |
| Oct 25, 2023 | $0.21 | $0.20 | -4.8% | $282M | +7.8% |
| Jul 26, 2023 | $0.20 | $0.18 | -10.0% | $276M | +0.1% |
| Feb 15, 2023 | $0.19 | $0.17 | -10.5% | $259M | +4.8% |
| Oct 26, 2022 | $0.19 | $0.17 | -10.5% | $249M | +0.1% |
AM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 4, 2026 | Kennedy Michael N.director, officer: See Remarks | Sell | 100,000 | $21.92 |
| May 4, 2026 | Schultz Yvette Kdirector, officer: See Remarks | Sell | 69,269 | $21.90 |
| Apr 14, 2026 | Keenan W Howard JRdirector | Grant | 1,617 | — |
| Apr 14, 2026 | MCARDLE JANINE Jdirector | Grant | 1,617 | — |
| Apr 14, 2026 | Munoz Jeffrey S.director | Grant | 1,617 | — |
| Apr 14, 2026 | KEYTE DAVID Hdirector | Grant | 2,950 | — |
| Apr 14, 2026 | KLIMLEY BROOKS Jdirector | Grant | 1,617 | — |
| Apr 14, 2026 | MOLLENKOPF JOHN Cdirector | Grant | 1,617 | — |
| Apr 14, 2026 | DEA PETER Adirector | Grant | 1,617 | — |
| Apr 14, 2026 | Chisholm Nancydirector | Grant | 1,617 | — |
| Mar 12, 2026 | KLIMLEY BROOKS Jdirector | Sell | 5,000 | $23.16 |
| Mar 10, 2026 | Kennedy Michael N.director, officer: See Remarks | Grant | 261,210 | — |
| Mar 10, 2026 | Pearce Sheriofficer: See Remarks | Tax | 25,240 | $22.97 |
| Mar 10, 2026 | Pearce Sheriofficer: See Remarks | Grant | 32,651 | — |
| Mar 10, 2026 | Schultz Yvette Kdirector, officer: See Remarks | Sell | 25,000 | $22.81 |
Source: AM SEC Form 4 filings, latest May 4, 2026. For informational purposes only — not investment advice.
See the full AM insider & 13F page →Antero Midstream Corporation company profile
Overview
Antero Midstream Corporation (NYSE:AM) is a Denver-based energy infrastructure company that was incorporated in 2013 and went public in May 2017. The company owns, operates, and develops critical midstream energy infrastructure primarily serving natural gas production in the Appalachian Basin, particularly in West Virginia and Ohio. As a spin-off entity closely tied to Antero Resources Corporation, AM has established itself as one of the largest integrated liquids-rich midstream systems in the Appalachia region, providing essential gathering, processing, and water handling services that bridge the gap between wellhead production and end markets.
Business
Antero Midstream operates in the oil and gas midstream sector, which serves as the critical link between upstream production (drilling and extraction) and downstream markets (refineries, power plants, and end consumers). The company's business is divided into two primary segments that work together to support natural gas production operations. The Gathering and Processing segment represents approximately 86-90% of the company's EBITDA and operates an extensive network of gathering pipelines and compressor stations. This infrastructure collects raw natural gas directly from wellheads across Antero Resources' drilling locations and processes it to pipeline-quality specifications. The system handles over 3.1 billion cubic feet per day of low-pressure gathering volumes and 2.9 billion cubic feet per day of compression volumes, representing over 3% of all US natural gas production. The gathered gas is then transported through high-pressure pipelines to interstate transmission systems that deliver the product to end markets, with approximately 75% of the gas flowing to LNG export facilities along the Gulf Coast. The Water Handling segment accounts for approximately 10-14% of EBITDA and provides comprehensive water management services essential for hydraulic fracturing operations. This segment delivers fresh water to drilling sites, operates pumping stations, and maintains water storage and blending facilities. The system can deliver over 80,000 barrels per day of fresh water and has recently expanded to create an integrated water system across the Marcellus liquids-rich corridor, providing operational flexibility for completion activities. Both segments are primarily dedicated to serving Antero Resources Corporation, creating a vertically integrated model where the midstream operations are specifically designed to support the upstream parent company's production activities in the Appalachian Basin.
Risks & safety
Antero Midstream demonstrates a moderate margin of safety with solid financial fundamentals but some leverage concerns. • Debt and Solvency: Total debt-to-equity ratio of 1.49x with leverage at 2.9x EBITDA, down from over 3.3x in recent years. The company maintains a $1.25 billion revolving credit facility with extended maturity to 2029 and recently received an S&P credit rating upgrade to BB+. • Cash Generation: Strong free cash flow generation of $168 million in Q1 2025, with operating cash flow of $199 million. The company has generated over $350 million in free cash flow after dividends over the past two years, demonstrating consistent cash generation capability. • Valuation Metrics: Trading at 16.6x EV/EBITDA and 17.9x P/E ratio, which appears reasonable for a stable midstream infrastructure company. Current ratio of 1.42x indicates adequate short-term liquidity. • Other Considerations: Minimal cash on balance sheet creates some liquidity concerns, though this is offset by the revolving credit facility. The company's fee-based revenue model provides stability, but customer concentration risk with Antero Resources remains a key vulnerability. Dividend coverage appears solid with current payout levels sustainable from operating cash flows.
Recent development
Over the past few years, Antero Midstream has focused on several key strategic initiatives that have strengthened its market position and operational efficiency. The company completed a significant $70 million acquisition from Summit Midstream in 2024, adding two compressor stations with 100 million cubic feet per day of capacity and approximately 50 miles of high-pressure pipelines in the Marcellus Shale. This acquisition was immediately accretive to free cash flow and expanded AM's infrastructure footprint. A major operational advancement has been the company's equipment reuse and optimization program, which has generated substantial cost savings. The program achieved $30 million in reuse savings at the Torrey's Peak Compressor Station and $50 million across three stations, with an additional $60 million in expected savings over the next five years. This initiative demonstrates AM's focus on capital efficiency and maximizing returns from existing assets. The company has also invested heavily in integrated water infrastructure, committing $85 million to create a comprehensive water system across the Marcellus liquids-rich corridor. This investment provides greater operational flexibility for Antero Resources' completion activities and positions AM to handle increased water demands more efficiently. Financial optimization has been another key focus, with AM successfully reducing its leverage from over 3.3x to 2.9x EBITDA, one year ahead of schedule. The company refinanced its debt structure by issuing $600 million in senior notes due 2032 and extending its revolving credit facility maturity to 2029. These moves improved the balance sheet and provided financial flexibility for future growth initiatives. Looking forward, AM is positioning itself to capitalize on growing natural gas demand, particularly from data centers and power generation facilities. The company notes that data center power requirements are expected to double by 2030, with the percentage of data centers powered by natural gas increasing from 50% to 70%, creating potential new demand sources for Appalachian natural gas production.
AM company profile · for informational purposes only — not investment advice.
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