Praxis Investment Management Inc. Acquires 4,920 Shares of Antero Midstream Corporation $AM

Praxis Investment Management Inc. raised its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 31.5% during the second quarter, Holdings Channel reports. The fund owned 20,530 shares of the pipeline company’s stock after buying an additional 4,920 shares during the period. Praxis Investment Management Inc.’s holdings in Antero Midstream were worth $389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AM. GAMMA Investing LLC grew its position in Antero Midstream by 34.0% during the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company’s stock valued at $154,000 after acquiring an additional 2,165 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Antero Midstream by 102.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company’s stock worth $852,000 after purchasing an additional 23,922 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Antero Midstream by 4.9% in the first quarter. Janney Montgomery Scott LLC now owns 58,049 shares of the pipeline company’s stock worth $1,045,000 after purchasing an additional 2,732 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Antero Midstream by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 194,907 shares of the pipeline company’s stock worth $3,507,000 after purchasing an additional 845 shares during the last quarter. Finally, Segment Wealth Management LLC bought a new position in shares of Antero Midstream in the first quarter worth approximately $297,000. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Stock Performance

NYSE:AM opened at $18.08 on Friday. The stock has a market cap of $8.65 billion, a P/E ratio of 19.03 and a beta of 0.85. The firm’s fifty day simple moving average is $18.40 and its 200 day simple moving average is $18.01. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $305.47 million for the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.23 earnings per share. As a group, research analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.90 annualized dividend and a yield of 5.0%. Antero Midstream’s dividend payout ratio (DPR) is currently 94.74%.

Analyst Upgrades and Downgrades

AM has been the topic of several recent analyst reports. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Wells Fargo & Company raised their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the transaction, the insider owned 106,489 shares of the company’s stock, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

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.