What Is Antero Midstream’s (AM) Economic Moat, and Is One Customer Enough?

Antero Resources drills for natural gas in Appalachia. Antero Midstream Corporation (NYSE:AM) owns the pipe that takes it away, and it was carved out of that same producer to do exactly that job. The stock closed at $20.64 on October 16. It has returned -1.1% during the last 6 months, compared to a 10.5% return […]