Why Antero Midstream Stock Is Soaring Today
Shares of Antero Midstream (NYSE: AM) rallied nearly 10% by 11:15 a.m. EDT on Wednesday. Fueling the energy company's big move were its third-quarter results.
Antero Midstream hauled in $170 million of distributable cash flow during the third quarter, which was an 8% year-over-year increase. Driving that growth was a 25% surge in gas-gathering volumes and a 71% jump in processing volumes. The company benefited from higher production from its parent, Antero Resources (NYSE: AR), as well as recently completed expansion projects.
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Source Fool.com
