Pasadena Private Wealth LLC Invests $648,000 in Antero Midstream Corporation $AM

Pasadena Private Wealth LLC bought a new position in shares of Antero Midstream Corporation (NYSE:AM) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 36,402 shares of the pipeline company’s stock, valued at approximately $648,000.

Other large investors have also made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Antero Midstream during the 3rd quarter worth approximately $25,000. Elevation Wealth Partners LLC acquired a new position in shares of Antero Midstream during the 4th quarter worth approximately $27,000. Larson Financial Group LLC raised its stake in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after buying an additional 708 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in shares of Antero Midstream by 138.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company’s stock worth $52,000 after buying an additional 1,559 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on AM. Weiss Ratings raised Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. UBS Group increased their price objective on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. The Goldman Sachs Group increased their price objective on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a research note on Wednesday, April 22nd. Finally, Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Antero Midstream presently has an average rating of “Hold” and a consensus target price of $24.00.

Antero Midstream Stock Down 0.7%

Shares of AM opened at $21.16 on Friday. Antero Midstream Corporation has a 52-week low of $16.77 and a 52-week high of $23.83. The company has a market capitalization of $10.05 billion, a PE ratio of 24.60 and a beta of 0.68. The stock has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $20.20. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, equities analysts forecast that Antero Midstream Corporation will post 1.13 EPS for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.3%. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the sale, the director directly owned 69,680 shares of the company’s stock, valued at $1,613,788.80. This trade represents a 6.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the transaction, the insider owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 213,269 shares of company stock valued at $4,713,681 over the last 90 days. Insiders own 0.86% of the company’s stock.

Antero Midstream Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.