Creative Planning Acquires 33,054 Shares of Antero Midstream Co. (NYSE:AM)

Creative Planning grew its stake in shares of Antero Midstream Co. (NYSE:AM) by 43.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,118 shares of the pipeline company’s stock after purchasing an additional 33,054 shares during the period. Creative Planning’s holdings in Antero Midstream were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of 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 worth $31,000 after purchasing an additional 1,753 shares during the period. City State Bank bought a new position in Antero Midstream in the 2nd quarter valued at about $51,000. First Horizon Advisors Inc. boosted its stake in Antero Midstream by 24.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company’s stock valued at $52,000 after purchasing an additional 688 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in Antero Midstream during the 2nd quarter worth approximately $55,000. Finally, Covestor Ltd raised its stake in shares of Antero Midstream by 433.9% in the first quarter. Covestor Ltd now owns 5,830 shares of the pipeline company’s stock worth $82,000 after purchasing an additional 4,738 shares during the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Trading Down 0.0 %

Shares of Antero Midstream stock opened at $14.88 on Wednesday. The firm has a market cap of $7.16 billion, a PE ratio of 18.59 and a beta of 2.34. Antero Midstream Co. has a 1 year low of $11.58 and a 1 year high of $15.87. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a fifty day moving average price of $14.97 and a 200-day moving average price of $14.61.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.18 EPS 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 company had revenue of $269.70 million during the quarter, compared to the consensus estimate of $274.66 million. During the same period in the prior year, the firm posted $0.22 EPS. The business’s revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Antero Midstream Co. will post 0.85 EPS for the current year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 6.05%. The ex-dividend date is Wednesday, October 23rd. Antero Midstream’s dividend payout ratio (DPR) is 112.50%.

Analysts Set New Price Targets

Several brokerages have weighed in on AM. StockNews.com cut Antero Midstream from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley increased their price objective 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.

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 value of $343,127.62. Following the completion of the transaction, the insider now owns 130,349 shares in the company, valued at $1,901,791.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.61% of the company’s stock.

Antero Midstream Company 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.