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AM · Analysis updated Nov 5, 2026, 11:49 AM ET
Why is Antero Midstream (AM) stock moving?
Antero Midstream reported Q3 on Oct 28. Adjusted EBITDA was $291M, up 3%. Gathering volumes rose 19% and compression volumes rose 17%. Net income of $393M included a $377M litigation gain, and 2026 free cash flow guidance was raised by about $370M. Adjusted EPS of $0.28 and revenue of $327M missed consensus, and about 10 Bcf of curtailments weighed on throughput. Management pointed to lower leverage and double-digit EBITDA growth in 2027. The shares rose to about $21.5 after earnings, then gave back the gain. They fell 5.2% on Nov 4 to $19.86 on the highest volume in the period, 51,407 shares, and closed below the recent $20.5–21.5 range. The dividend yield is near 4.3%, but the payout ratio is above 100% on some measures. Analyst views are mixed, with targets of $22–25. The Nov 4 drop has no clear company-specific news behind it, so it may reflect sector or market weakness. That leaves the near-term picture cautious.
News behind the analysis
- Antero Midstream Announces Third Quarter 2026 Financial and Operating ResultsQ3 adjusted EBITDA was $291M, up 3%. Net income was $393M, including a $377M litigation gain. Gathering volumes rose 19% and compression volumes rose 17%.
- Antero Midstream Announces Third Quarter 2026 Financial and Operating Results (company release)The company repurchased 1.3M shares for about $27M in Q3. Capex was $51M. It connected 22 wells, and processing and fractionation capacity were 100% utilized.
- Antero Midstream Corp Reports Q3 2026 GAAP EPS of $0.82, Beating EstimatesGAAP EPS was $0.82 against an estimate of $0.29. Revenue was $327M. Adjusted free cash flow before dividends was $555M.
- Antero Midstream (AM) Reports Q3 Results, Boosts 2026 Cash Flow Guidance Amid Dividend Concerns2026 adjusted free cash flow guidance was raised by $370M, driven by the litigation settlement. Non-GAAP EPS of $0.28 missed estimates. The article flags a payout ratio above 100% and a yield near 4.3%.
- Antero Midstream Q3 2026 presentation: leverage falls, 2027 growth eyedAdjusted EPS of $0.28 and revenue of $327.0M missed estimates. Management cited lower leverage and double-digit 2027 EBITDA growth. About 10 Bcf of curtailments hurt Q3 throughput.
- Antero Midstream Corporation $AM Stake Reduced by Hennessy Advisors Inc.Institutions own 53.97% of the stock. Analyst ratings are mixed: 2 Buy or Strong Buy, 4 Hold and 1 Sell. UBS has a $22 target with a Neutral rating.
- AM stock quote and newsThe ex-dividend date was Oct 28, with a $0.225 dividend. Capital One upgraded the stock to Overweight on Sep 22, and UBS cut its target to $22.
- Antero Midstream Corporation (AM) Stock Price, Chart & NewsCapital One upgraded the stock to Overweight with a $25 target. Wells Fargo raised its target to $24 and rated the stock Equal Weight.