Antero Midstream Corporation (NYSE:AM) Stock Holdings Lessened by Pinnacle Holdings LLC

Pinnacle Holdings LLC decreased its position in Antero Midstream Corporation (NYSE:AM) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 282,483 shares of the pipeline company’s stock after selling 2,607 shares during the quarter. Antero Midstream makes up 1.9% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 3rd largest position. Pinnacle Holdings LLC’s holdings in Antero Midstream were worth $5,085,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Transce3nd LLC purchased a new position in shares of Antero Midstream in the first quarter valued at about $29,000. UMB Bank n.a. boosted its stake in shares of Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company’s stock valued at $62,000 after purchasing an additional 2,188 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Antero Midstream by 20.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company’s stock valued at $85,000 after purchasing an additional 963 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Antero Midstream by 34.0% during the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company’s stock valued at $154,000 after purchasing an additional 2,165 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Antero Midstream during the fourth quarter worth about $159,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the sale, the director directly owned 73,645 shares of the company’s stock, valued at approximately $1,390,417.60. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

AM has been the topic of several research reports. Wall Street Zen raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Wells Fargo & Company upped their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Finally, Morgan Stanley upped their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th.

Antero Midstream Trading Down 1.6%

Shares of NYSE AM opened at $17.91 on Friday. The firm’s 50 day moving average price is $18.02 and its 200-day moving average price is $17.51. The company has a market cap of $8.57 billion, a PE ratio of 18.85 and a beta of 0.97. Antero Midstream Corporation has a 52-week low of $14.06 and a 52-week high of $19.08. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Wednesday, July 23rd. Antero Midstream’s dividend payout ratio is currently 94.74%.

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.