LFG Wealth Partners LLC Purchases Shares of 82,040 Antero Midstream Corporation $AM

LFG Wealth Partners LLC acquired a new stake in Antero Midstream Corporation (NYSE:AM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 82,040 shares of the pipeline company’s stock, valued at approximately $1,459,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of AM. Elevation Wealth Partners LLC purchased a new stake in Antero Midstream in the fourth quarter valued at approximately $27,000. Larson Financial Group LLC increased its holdings in Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after buying an additional 708 shares during the period. Arax Advisory Partners raised its position in Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after buying an additional 791 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 2,199 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after acquiring an additional 2,224 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Antero Midstream Stock Down 1.6%

AM stock opened at $21.31 on Tuesday. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. The firm has a 50-day simple moving average of $21.61 and a 200-day simple moving average of $20.49. The stock has a market capitalization of $10.12 billion, a P/E ratio of 24.78 and a beta of 0.66.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The company had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. During the same period in the prior year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts forecast that Antero Midstream Corporation will post 1.12 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AM shares. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a report on Wednesday, April 22nd. UBS Group upped their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, March 25th. The Goldman Sachs Group increased their price target on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. Wells Fargo & Company raised their price objective on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.00.

Insider Buying and Selling

In other news, insider Yvette K. Schultz sold 69,269 shares of Antero Midstream stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the sale, the insider directly owned 580,565 shares of the company’s stock, valued at $12,714,373.50. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. The trade was a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.