Antero Midstream Partners LP (AM) Position Reduced by Summit Trail Advisors LLC
Summit Trail Advisors LLC lessened its position in Antero Midstream Partners LP (NYSE:AM) by 79.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,384 shares of the pipeline company’s stock after selling 75,170 shares during the quarter. Summit Trail Advisors LLC’s holdings in Antero Midstream Partners were worth $572,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Baldwin Brothers Inc. MA bought a new position in Antero Midstream Partners in the 2nd quarter worth $161,000. JJJ Advisors Inc. bought a new position in Antero Midstream Partners in the 2nd quarter worth $199,000. LVW Advisors LLC bought a new position in Antero Midstream Partners in the 2nd quarter worth $210,000. Aperio Group LLC bought a new position in Antero Midstream Partners in the 2nd quarter worth $228,000. Finally, GSA Capital Partners LLP bought a new position in shares of Antero Midstream Partners during the 2nd quarter worth about $260,000. Hedge funds and other institutional investors own 47.59% of the company’s stock.
Shares of NYSE:AM traded down $0.20 on Friday, hitting $29.54. 674 shares of the company were exchanged, compared to its average volume of 733,743. Antero Midstream Partners LP has a one year low of $24.20 and a one year high of $34.18. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $5.59 billion, a price-to-earnings ratio of 21.24 and a beta of 1.88.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Thursday, August 2nd were given a dividend of $0.415 per share. This is a positive change from Antero Midstream Partners’s previous quarterly dividend of $0.39. This represents a $1.66 annualized dividend and a dividend yield of 5.62%. The ex-dividend date was Wednesday, August 1st. Antero Midstream Partners’s payout ratio is 118.57%.
AM has been the topic of several research reports. Stifel Nicolaus downgraded shares of Antero Midstream Partners from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $37.00 to $35.00 in a report on Thursday, August 2nd. Barclays dropped their price objective on shares of Antero Midstream Partners from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, July 11th. Citigroup boosted their price objective on shares of Antero Midstream Partners from $33.00 to $35.50 and gave the stock a “buy” rating in a report on Tuesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Antero Midstream Partners from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Finally, Wells Fargo & Co boosted their price objective on shares of Antero Midstream Partners from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Antero Midstream Partners has an average rating of “Buy” and a consensus price target of $34.77.
Antero Midstream Partners Company Profile
Antero Midstream Partners LP owns, operates, and develops midstream energy assets. The company operates in two segments, Gathering and Processing, and Water Handling and Treatment. Its assets include 8-, 12-, 16-, 20-, 24-, and 30-inch high and low pressure gathering pipelines, compressor stations, and processing and fractionation plants that collect and process natural gas, natural gas liquids, and crude oil from wells in the Marcellus Shale in West Virginia and the Utica Shale in Ohio; and water handling and treatment assets, which comprise two independent fresh water delivery systems that deliver fresh water from the Ohio River and several regional waterways, as well as wastewater handling services for well completion operations.
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