Edgestream Partners L.P. Sells 322,691 Shares of Antero Midstream Corporation $AM

Edgestream Partners L.P. lowered its holdings in Antero Midstream Corporation (NYSE:AM) by 60.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 206,995 shares of the pipeline company’s stock after selling 322,691 shares during the quarter. Edgestream Partners L.P.’s holdings in Antero Midstream were worth $4,719,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Antero Midstream by 3.4% in the fourth quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after buying an additional 776,791 shares during the last quarter. State Street Corp grew its holdings in Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after acquiring an additional 187,912 shares during the last quarter. Geode Capital Management LLC increased its position in Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after acquiring an additional 1,161,684 shares in the last quarter. Bank of New York Mellon Corp increased its position in Antero Midstream by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after acquiring an additional 920,948 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

Shares of AM stock opened at $21.93 on Friday. The firm’s 50 day moving average price is $22.03 and its two-hundred day moving average price is $21.54. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.99 and a current ratio of 0.84. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The stock has a market cap of $10.41 billion, a PE ratio of 26.11 and a beta of 0.64.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $314.21 million for the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, analysts forecast that Antero Midstream Corporation will post 1.1 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. Antero Midstream’s payout ratio is 107.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings cut Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. Finally, Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Antero Midstream currently has an average rating of “Hold” and an average price target of $24.25.

Insiders Place Their Bets

In related news, insider Yvette K. Schultz sold 69,269 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares in the company, valued at $32,893,020.48. The trade was a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.

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.