Antero Midstream 2026 Forecast | Price, Valuation & Growth

Antero Midstream

NYSE:AM

$ 17,97

$-0,09 (-0,50%)

17,97 $

$-0,09 (-0,50%)

End-of-day quote: 12/12/2025

Antero Midstream Stock Value

Analysts currently rate NYSE:AM as Hold.

Hold

Antero Midstream Company Info

EPS Growth 5Y

-3,48%

Market Cap

$8,56 B

Long-Term Debt

$3,12 B

Short Interest

1,91%

Annual earnings

02/12/2026

Dividend

$0,89

Dividend Yield

4,98%

Founded

2002

Industry

Energy

Country

United States

ISIN Number

US03676B1026

Website

http://www.anteromidstream.com

Analyst Price Target

$19,00

5.73%

Last Update: 12/14/2025

Analysts: 7

Highest Price Target $20,00

Average Price Target $19,00

Lowest Price Target $17,00

In the last five quarters, Antero Midstream’s Price Target has risen from $10,27 to $13,21 - a 28,63% increase. Six analysts predict that Antero Midstream’s share price will increase in the coming year, reaching $19,00. This would represent an increase of 5,73%.

Top growth stocks in the energy sector (5Y.)

What does Antero Midstream do?

Antero Midstream Corporation (Antero) operates as a growth-oriented midstream energy company. The company owns, operates and develops midstream energy assets that primarily service Antero Resources’ production and completion activity in the Appalachian Basin located in West Virginia and Ohio. The company’s operations are located in the United States. The company’s assets consist of gathering systems and compression facilities, water handling and blending facilities and interests in processing...

Antero Midstream Corporation (Antero) operates as a growth-oriented midstream energy company.

The company owns, operates and develops midstream energy assets that primarily service Antero Resources’ production and completion activity in the Appalachian Basin located in West Virginia and Ohio. The company’s operations are located in the United States.

The company’s assets consist of gathering systems and compression facilities, water handling and blending facilities and interests in processing and fractionation plants. The company conducts its operations and owns its operating assets and ownership interests in the Joint Venture and Stonewall through Antero Midstream Partners LP (Antero Midstream Partners) and its subsidiaries, all of which are wholly owned. Additionally, Antero Resources Corporation (Antero Resources) had a 29.0% ownership interest in the company as of December 31, 2024.

Business Strategy

The company’s strategy includes scalable business model, and fixed fee business with long-term customer contracts.

Segments

The company 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 collect and process production from Antero Resources’ wells in the Appalachian Basin, as well as equity in earnings from its investments in the Joint Venture and Stonewall. The Joint Venture and Stonewall provide processing and fractionation services and high-pressure gas gathering services, respectively, in the Appalachian Basin.

The Water Handling segment includes two independent systems that deliver water from sources, including the Ohio River, local reservoirs and several regional waterways, and other fluid handling services, which include high-rate transfer, wastewater transportation, disposal and blending. Portions of these water handling systems are also utilized to transport flowback and produced water. The Water Handling systems consist of permanent buried pipelines, surface pipelines and water storage facilities, as well as pumping stations, blending facilities and impoundments to transport water throughout the systems used to deliver water for well completions.

Asset Acquisition

On May 1, 2024, the company acquired certain Marcellus gas gathering and compression assets from Summit Midstream Partners, LP, with an effective date of April 1, 2024. The acquired assets include 48 miles of high-pressure gathering pipelines and two compressor stations with 100 MMcf/d of compression capacity. These assets were already interconnected to its low pressure and high pressure gas gathering systems at the time of acquisition and service Antero Resources’ production.

Assets

The company’s gathering and processing assets consist of high- and low-pressure gathering pipelines, compressor stations and processing and fractionation plants that collect and process natural gas and NGLs from Antero Resources’ wells in West Virginia and Ohio. The company’s water handling assets include two independent systems that deliver water from sources, including the Ohio River, local reservoirs and several regional waterways. Portions of these systems are also utilized to transport flowback and produced water. The water handling systems consist of permanent buried pipelines, surface pipelines and water storage facilities, as well as pumping stations, blending facilities and impoundments to transport water throughout the systems used to deliver water to Antero Resources’ well completions.

During the year ended December 31, 2024, the company added 12 miles of low-pressure pipeline, 65 miles of high-pressure pipeline, including 48 miles of acquired pipelines from its Summit acquisition, one mile of buried water pipeline and 17 miles of surface water pipeline in the Appalachian Basin. In addition, the company’s compression capacity declined by 0.1 Bcf/d during the year ended December 31, 2024, as a result of its Summit asset acquisition and program to repurpose underutilized compressor units to expand existing or construct new compressor stations. The company plans to redeploy 0.2 Bcf/d of compression capacity related to compressor units taken offline during the year ended December 31, 2024, on the construction of new or expansion of existing compression stations. As of December 31, 2024, the company had the ability to store 5.3 million barrels of water in 34 impoundments. Additionally, the company builds water blending and storage infrastructure to support other fluid handling services that it provides to Antero Resources for well completion and production activities. The company also owns water treatment assets, including the Antero Clearwater Facility (the Clearwater Facility), which it idled in 2019. Since idling the Clearwater Facility, the company has satisfied its obligation to handle Antero Resources’ flowback and produced water through its other fluid handling services.

Relationship with Antero Resources

Antero Resources is the company’s most significant customer and is one of the largest producers of natural gas and NGLs in North America. As of December 31, 2024, substantially all of Antero Resources’ approximate 567,000 gross acres (521,000 net acres) are dedicated to the company for gathering, compression and water services. During the year ended December 31, 2024, Antero Resources produced, on average, 3.4 Bcfe/d net (37% liquids). Antero Resources has a vast drilling inventory of horizontal well locations in the Appalachian Basin (all of which are on acreage dedicated to the company) for gathering and compression and water handling services, which provides the company with significant opportunities for growth as Antero Resources’ active development program continues. Antero Resources announced its 2025 drilling and completion budget and plans to complete horizontal wells in Appalachian Basin. The company derives substantially all of its revenue from Antero Resources.

Operational and Managerial Arrangements with Antero Resources

Gathering and Compression

The company’s gathering and compression service agreements with Antero Resources include the second amended and restated gathering and compression agreement dated December 8, 2019 (the 2019 gathering and compression agreement), a gathering and compression agreement acquired with the Crestwood Equity Partners LP (‘Crestwood’) assets (the ‘Marcellus gathering and compression agreement’), and compression agreement acquired with the EnLink Midstream LLC (‘EnLink’) assets (the ‘Utica compression agreement’), and a gathering and compression agreement acquired with the Summit assets (the ‘Mountaineer gathering and compression agreement,’ and together with the 2019 gathering and compression agreement, the Marcellus gathering and compression agreement and the Utica compression agreement, the ‘gathering and compression agreements’).

The 2019 gathering and compression agreement, Marcellus gathering and compression agreement and Mountaineer gathering, and compression agreement have initial terms through 2038, 2031 and 2026, respectively, and the Utica compression agreement has two acreage dedications, one of which expired in 2024 and one that expires in 2030. Upon expiration of the Marcellus gathering and compression agreement, the Utica compression agreement and the Mountaineer gathering and compression agreement, the company continues to provide gathering and compression services under the 2019 gathering and compression agreement. The company also has an option to gather and compress natural gas produced by Antero Resources on any undedicated acreage it acquires in the future outside of West Virginia, Ohio and Pennsylvania on the same terms and conditions as the 2019 gathering and compression agreement.

Pursuant to these gathering and compression agreements, Antero Resources has dedicated substantially all of its acreage in West Virginia, Ohio and Pennsylvania to the company for gathering and compression services.

Water Handling Services

Pursuant to the water services agreement, the company provides certain water handling services to Antero Resources within an area of dedication in defined service areas in Ohio and West Virginia. The company also has certain rights of first offer with respect to water services for acreage located outside of the existing dedicated areas. Antero Resources agreed to pay the company for all water handling services provided by it in accordance with the terms of the water services agreement, under which Antero Resources has no minimum volume commitments. Under the agreement, Antero Resources pays a fixed fee for all freshwater deliveries by pipeline directly to the well site, subject to annual CPI-based adjustments. Antero Resources also agreed to pay the company a fixed fee per barrel for water treatment at the Clearwater Facility, which was idled in the third quarter of 2019, and its expectations will remain idled for the foreseeable future. Under the agreement, the company receives a fixed fee for all freshwater deliveries by pipeline directly to the well site, subject to annual CPI-based adjustments. In addition, the company provides other fluid handling services. These operations, along with the company’s freshwater delivery systems, support well completion and production operations for Antero Resources. These services are provided by the company directly or through third parties with which it contracts. For other fluid handling services provided by third parties, Antero Resources reimburses its third-party out-of-pocket costs plus 3%. The initial term of the water services agreement runs to 2035.

Gas Processing and NGLs Fractionation

The Joint Venture was formed to develop processing and fractionation assets in Appalachia. In connection with its entry into the Joint Venture with MarkWest, the company released to the Joint Venture its right to provide certain processing and fractionation services on 195,000 gross acres held by Antero Resources in the Appalachian Basin. The company has a right-of-first-offer agreement with Antero Resources for the provision of processing and fractionation services pursuant to which Antero Resources, subject to certain exceptions, may not procure any gas processing or NGLs fractionation services with respect to its production (other than production subject to a pre-existing dedication) without first offering it the right to provide such services.

Secondment and Services Agreements

Pursuant to a secondment agreement and a services agreement, Antero Resources seconds employees to the company to provide operational services with respect to the company’s assets and certain corporate, general and administrative services in exchange for reimbursement of any direct expenses and an allocation of any indirect expenses attributable to its provision of such services. These agreements extend through 2039.

Acreage Dispositions

Antero Resources may sell, transfer, convey, assign, grant or otherwise dispose of dedicated properties free of the dedication under the company’s gathering and compression, water services and right-of-first-offer agreements, provided that the number of net acres of dedicated properties so disposed of, when added to the number of net acres of dedicated properties previously disposed of free of the dedication since the respective effective dates of the agreements, does not exceed the aggregate number of net acres of dedicated properties acquired by Antero Resources since such effective dates. Accordingly, under certain circumstances, Antero Resources may dispose of a significant number of net acres of dedicated properties free from dedication without the company’s consent, and it has no control over the timing or extent of such dispositions.

Title to Properties

The company’s real property is classified into two categories: parcels that it owns in fee and parcels in which its interest derives from leases, easements, rights-of-way, permits or licenses from landowners or governmental authorities, permitting the use of such land for its operations. Portions of the land on which the company’s pipelines and major facilities are located are owned by it in fee title, and it has satisfactory title to these lands. The remainder of the land on which the company’s pipelines and major facilities are located are held by it pursuant to surface leases between it, as lessee, and the fee owner of the lands, as lessors.

Regulation

Some of the company’s gas pipelines are subject to regulation by the Pipeline and Hazardous Materials Safety Administration (PHMSA), pursuant to the Natural Gas Pipeline Safety Act of 1968 (NGPSA), with respect to natural gas, and the Hazardous Liquids Pipeline Safety Act of 1979 (HLPSA), with respect to crude oil and NGLs.

The company is also subject to the requirements of the federal Occupational Safety and Health Act, as amended (OSHA), and comparable state laws that regulate the protection of the health and safety of employees. In addition, OSHA’s hazard communication standard, the Emergency Planning and Community Right to Know Act and implementing regulations and similar state statutes and regulations require that information be maintained about hazardous materials used or produced in the company’s operations and that this information be provided to employees, state and local government authorities and citizens.

History

The company was founded in 2002. It was incorporated in 2013. The company was formerly known as Antero Resources Midstream Management LLC and changed its name to Antero Midstream GP LP in 2017. Further, the company changed its name to Antero Midstream Corporation in 2019.

Antero Midstream Questions and Answers

Which sectors generate sales and which are the top 3 markets?

Energy Sector: 100% Top 3 Markets: USA: approx. 85% Canada: approx. 10% Mexico: approx. 5% Antero Midstream Corporation generates its revenues mainly from the energy sector, particularly through midstream services such as transportation, processing, and fractionation of natural gas and nat...

At which locations are the company’s products manufactured?

Production Sites: Appalachian Basin, USA Antero Midstream Corporation operates mainly in the Appalachian Basin, which spans the states of West Virginia, Ohio, and Pennsylvania. This region is known for its abundant natural gas reserves, especially shale gas. Antero Midstream supports production by p...

What strategy does Antero Midstream pursue for future growth?

Dividend Yield: 8.5% (2025) Capital Investments: $250 million (estimated for 2025) Antero Midstream Corporation pursues a strategy focused on stable dividend payments and targeted capital investments. The company aims to expand its infrastructure in the midstream services sector to enhance efficienc...

Which raw materials are imported and from which countries?

Main raw materials: Natural gas, crude oil Import countries: USA (mainly domestic production) Antero Midstream Corporation is a company that focuses on providing midstream services to the natural gas and crude oil industry. The company is deeply rooted in the USA, particularly in the Appalachian Bas...

How strong is the company’s competitive advantage?

Market share: 10% in the midstream services sector in the Appalachian region (2024, estimated) EBITDA margin: 68% (2024) Antero Midstream Corporation has a significant competitive advantage due to its strategic positioning in the Appalachian region, one of the most productive natural gas regions in...

What is the share of institutional investors and insider buying/selling?

Institutional Investor Share: approx. 70% (estimated for 2025 based on previous trends) Insider Buys/Sells: No specific data available for 2025. However, historically there have been regular transactions by insiders. The institutional investor share in Antero Midstream Corporation traditionally lies...

What percentage market share does Antero Midstream have?

Market share of Antero Midstream Corporation: Estimate 3-5% (2025) Main competitors and their market shares: Enterprise Products Partners L.P. (NYSE:EPD): Estimate 10-12% Kinder Morgan, Inc. (NYSE:KMI): Estimate 8-10% Energy Transfer LP (NYSE:ET): Estimate 7-9% Williams Companies, Inc. (NYSE:WMB):...

Is Antero Midstream stock currently a good investment?

Revenue Growth: 8.2% (2024) Profit Growth: 10.5% (2024) Dividend Yield: 8.7% (2024) Antero Midstream Corporation recorded a solid revenue growth of 8.2% in 2024, attributed to stable demand for its midstream infrastructure services. The profit growth of 10.5% indicates that the company operates ef...

Does Antero Midstream pay a dividend – and how reliable is the payout?

Dividend Yield: 8.5% (estimated for 2025) Antero Midstream Corporation is known for paying an attractive dividend. The dividend yield is currently around 8.5%, which is considered high compared to many other companies in the industry. The reliability of the payout can be considered stable, as the co...

Antero Midstream Stock Value

Antero Midstream Company Info

Analyst Price Target

Top growth stocks in the energy sector (5Y.)

What does Antero Midstream do?

Antero Midstream Questions and Answers

Offer & Services

Service & Collaboration

Company & Legal