Private Advisor Group LLC Lowers Holdings in Antero Midstream Co. (NYSE:AM)

Private Advisor Group LLC reduced its holdings in Antero Midstream Co. (NYSE:AM) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,889 shares of the pipeline company’s stock after selling 1,240 shares during the quarter. Private Advisor Group LLC’s holdings in Antero Midstream were worth $617,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Chickasaw Capital Management LLC lifted its stake in Antero Midstream by 3.8% during the first quarter. Chickasaw Capital Management LLC now owns 2,219,519 shares of the pipeline company’s stock worth $31,206,000 after purchasing an additional 81,374 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Antero Midstream by 3.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,852,300 shares of the pipeline company’s stock valued at $23,209,000 after purchasing an additional 57,000 shares during the period. Illinois Municipal Retirement Fund bought a new position in shares of Antero Midstream in the first quarter worth approximately $1,506,000. Clearbridge Investments LLC grew its holdings in Antero Midstream by 1.2% in the 1st quarter. Clearbridge Investments LLC now owns 7,282,393 shares of the pipeline company’s stock worth $102,390,000 after acquiring an additional 84,000 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in shares of Antero Midstream in the fourth quarter valued at about $3,219,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Up 1.2 %

Shares of NYSE:AM 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 has a fifty day simple moving average of $14.48 and a two-hundred day simple moving average of $14.31. Antero Midstream Co. has a 12-month low of $11.50 and a 12-month high of $15.21. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 18.79 and a beta of 2.34.

Antero Midstream (NYSE:AM) last announced 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 firm had revenue of $269.70 million during the quarter, compared to the consensus estimate of $274.66 million. Antero Midstream had a return on equity of 19.40% and a net margin of 36.19%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, research analysts anticipate that Antero Midstream Co. will post 0.85 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors 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 dividend yield of 5.98%. Antero Midstream’s dividend payout ratio (DPR) is presently 112.50%.

Insider Buying and Selling

In other news, insider Sheri Pearce sold 23,518 shares of the business’s 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 completion of the transaction, the insider now directly owns 130,349 shares of the company’s stock, valued at $1,901,791.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on AM shares. StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Morgan Stanley upped their target price on shares of Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Antero Midstream presently has a consensus rating of “Hold” and an average price target 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.