Commonwealth Equity Services LLC Sells 8,991 Shares of Antero Midstream Co. (NYSE:AM)

Commonwealth Equity Services LLC reduced its stake in shares of Antero Midstream Co. (NYSE:AM) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 78,092 shares of the pipeline company’s stock after selling 8,991 shares during the period. Commonwealth Equity Services LLC’s holdings in Antero Midstream were worth $1,151,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Antero Midstream by 360.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,240 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 1,753 shares in the last quarter. MCF Advisors LLC acquired a new stake in Antero Midstream in the 1st quarter valued at $34,000. Pacifica Partners Inc. bought a new stake in Antero Midstream during the 1st quarter worth about $48,000. City State Bank bought a new stake in Antero Midstream during the 2nd quarter worth about $51,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Antero Midstream by 24.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company’s stock worth $52,000 after buying an additional 688 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling

In related news, insider Sheri Pearce sold 23,518 shares of Antero Midstream stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $14.59, for a total transaction of $343,127.62. Following the sale, the insider now directly owns 130,349 shares of the company’s stock, valued at approximately $1,901,791.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by corporate insiders.

Antero Midstream Trading Up 1.3 %

AM stock opened at $14.88 on Tuesday. Antero Midstream Co. has a 52 week low of $11.50 and a 52 week high of $15.21. The company has a market capitalization of $7.16 billion, a PE ratio of 18.60 and a beta of 2.34. The company’s 50-day simple moving average is $14.48 and its 200 day simple moving average is $14.31. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.89 and a current ratio of 0.89.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The company had revenue of $269.70 million for the quarter, compared to analyst estimates of $274.66 million. Antero Midstream had a return on equity of 19.40% and a net margin of 36.19%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. As a group, sell-side analysts anticipate that Antero Midstream Co. will post 0.85 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.05%. Antero Midstream’s dividend payout ratio (DPR) is currently 112.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AM. StockNews.com downgraded Antero Midstream from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Morgan Stanley increased their price target on shares of Antero Midstream from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.88.

Antero Midstream Profile

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.