Invst LLC Takes $804,000 Position in Antero Midstream Corporation $AM

Invst LLC acquired a new stake in Antero Midstream Corporation (NYSE:AM) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 35,332 shares of the pipeline company’s stock, valued at approximately $804,000.

Several other hedge funds have also added to or reduced their stakes in AM. Clearstead Trust LLC acquired a new position in Antero Midstream in the second quarter valued at about $30,000. Larson Financial Group LLC increased its holdings in shares of Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 708 shares in the last quarter. Arax Advisory Partners raised its position in shares of Antero Midstream by 83.9% during the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 791 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Antero Midstream during the second quarter worth about $38,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Antero Midstream by 219,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

Antero Midstream Price Performance

Shares of NYSE AM opened at $21.92 on Wednesday. The company has a fifty day moving average price of $22.25 and a 200 day moving average price of $21.99. The firm has a market cap of $10.40 billion, a PE ratio of 26.10 and a beta of 0.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a 1-year low of $16.96 and a 1-year high of $23.83.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $327.24 million for the quarter, compared to the consensus estimate of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Research analysts predict that Antero Midstream Corporation will post 1.09 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AM. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. Wells Fargo & Company increased their target price on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Antero Midstream currently has a consensus rating of “Hold” and an average target price of $24.50.

Insider Buying and Selling

In related news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the sale, the director owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares in the company, valued at $1,846,639. The trade was a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company 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.