Mercer Global Advisors Inc. ADV Sells 65,275 Shares of Antero Midstream Co. (NYSE:AM)

Mercer Global Advisors Inc. ADV reduced its position in Antero Midstream Co. (NYSE:AM) by 23.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,119 shares of the pipeline company’s stock after selling 65,275 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Antero Midstream were worth $3,156,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of AM. Allspring Global Investments Holdings LLC grew its position in Antero Midstream by 360.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,240 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 1,753 shares during the last quarter. MCF Advisors LLC bought a new position in shares of Antero Midstream during the 1st quarter valued at $34,000. City State Bank purchased a new position in Antero Midstream in the 2nd quarter worth $51,000. Pacifica Partners Inc. purchased a new position in Antero Midstream in the 1st quarter worth $48,000. Finally, First Horizon Advisors Inc. boosted its position in Antero Midstream by 24.2% during the second quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company’s stock valued at $52,000 after buying an additional 688 shares during the period. 53.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AM has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, August 27th. StockNews.com downgraded Antero Midstream from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.88.

Antero Midstream Stock Performance

Shares of NYSE:AM opened at $14.81 on Monday. 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 company has a 50-day moving average price of $14.48 and a 200-day moving average price of $14.35. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 18.51 and a beta of 2.34. Antero Midstream Co. has a 12 month low of $11.50 and a 12 month high of $15.21.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). Antero Midstream had a return on equity of 19.40% and a net margin of 36.19%. The business had revenue of $269.70 million during the quarter, compared to analysts’ expectations of $274.66 million. During the same quarter last year, the business posted $0.22 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Antero Midstream Co. will post 0.85 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date was Wednesday, July 24th. Antero Midstream’s payout ratio is currently 112.50%.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 23,518 shares of Antero Midstream stock in a transaction dated 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 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. Company insiders own 0.61% of the company’s stock.

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.