Edgestream Partners L.P. Has $4.72 Million Stake in Antero Midstream Corporation $AM

Edgestream Partners L.P. reduced its position in Antero Midstream Corporation (NYSE:AM) by 60.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 206,995 shares of the pipeline company’s stock after selling 322,691 shares during the quarter. Edgestream Partners L.P.’s holdings in Antero Midstream were worth $4,719,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new stake in Antero Midstream in the 4th quarter valued at $66,998,000. Orbis Allan Gray Ltd bought a new position in shares of Antero Midstream during the 4th quarter worth about $25,084,000. Goldman Sachs Group Inc. lifted its holdings in shares of Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the period. SIR Capital Management L.P. boosted its position in shares of Antero Midstream by 1,086.9% during the 3rd quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock valued at $26,892,000 after acquiring an additional 1,266,794 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Antero Midstream by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after acquiring an additional 1,161,684 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research note on Tuesday, July 14th. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a research note on Wednesday, April 22nd. Finally, Weiss Ratings downgraded Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and a consensus target price of $24.25.

Antero Midstream Stock Performance

Antero Midstream stock opened at $21.93 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.99. The stock has a fifty day moving average price of $22.03 and a two-hundred day moving average price of $21.54. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The firm has a market capitalization of $10.41 billion, a P/E ratio of 26.11 and a beta of 0.64.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The company had revenue of $314.21 million for the quarter, compared to the consensus estimate of $311.30 million. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Antero Midstream Corporation will post 1.1 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is currently 107.14%.

Insider Activity

In related news, insider Michael N. Kennedy sold 100,000 shares of Antero Midstream stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. This trade represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the completion of the transaction, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Antero Midstream 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.