Pekin Hardy Strauss Inc. Trims Position in Antero Midstream Co. (NYSE:AM)

Pekin Hardy Strauss Inc. decreased its position in shares of Antero Midstream Co. (NYSE:AM) by 1.4% during the second quarter, Holdings Channel reports. The institutional investor owned 69,000 shares of the pipeline company’s stock after selling 1,000 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Antero Midstream were worth $1,017,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in Antero Midstream by 20.2% during the 4th quarter. Victory Capital Management Inc. now owns 83,082 shares of the pipeline company’s stock valued at $1,041,000 after buying an additional 13,962 shares in the last quarter. Principal Securities Inc. purchased a new stake in Antero Midstream in the 4th quarter worth $62,000. Envestnet Portfolio Solutions Inc. lifted its stake in Antero Midstream by 12.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,064 shares of the pipeline company’s stock worth $189,000 after purchasing an additional 1,647 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Antero Midstream by 28.1% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 47,868 shares of the pipeline company’s stock valued at $600,000 after purchasing an additional 10,508 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Antero Midstream in the fourth quarter worth about $54,704,000. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

Shares of Antero Midstream stock opened at $15.06 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.50. The stock’s fifty day moving average price is $14.48 and its 200-day moving average price is $14.31. The firm has a market cap of $7.25 billion, a P/E ratio of 18.82 and a beta of 2.34. Antero Midstream Co. has a 12 month low of $11.50 and a 12 month high of $15.21.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, July 31st. The pipeline company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). Antero Midstream had a net margin of 36.19% and a return on equity of 19.40%. The business had revenue of $269.70 million for the quarter, compared to analysts’ expectations of $274.66 million. During the same period last year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Antero Midstream Co. will post 0.85 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.90 annualized dividend and a yield of 5.98%. Antero Midstream’s dividend payout ratio (DPR) is presently 112.50%.

Insider Activity

In related news, insider Sheri Pearce sold 23,518 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total transaction of $343,127.62. Following the sale, the insider now owns 130,349 shares of the company’s stock, valued at $1,901,791.91. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AM has been the topic of a number of research reports. StockNews.com downgraded Antero Midstream from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley lifted their price target on Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.88.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.