Antero Midstream Corporation $AM Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its stake in shares of Antero Midstream Corporation (NYSE:AM) by 60.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,235 shares of the pipeline company’s stock after selling 71,349 shares during the period. NewEdge Advisors LLC’s holdings in Antero Midstream were worth $1,054,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Western Wealth Management LLC purchased a new stake in shares of Antero Midstream during the 1st quarter valued at $579,000. Ariadne Wealth Management LP purchased a new position in shares of Antero Midstream in the 1st quarter worth $230,000. Bank of America Corp DE raised its position in shares of Antero Midstream by 69.6% in the 1st quarter. Bank of America Corp DE now owns 1,207,784 shares of the pipeline company’s stock worth $27,537,000 after buying an additional 495,481 shares during the period. Janus Henderson Group PLC boosted its holdings in Antero Midstream by 71.0% in the first quarter. Janus Henderson Group PLC now owns 273,772 shares of the pipeline company’s stock valued at $6,242,000 after acquiring an additional 113,696 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Antero Midstream by 44.8% during the first quarter. EverSource Wealth Advisors LLC now owns 10,422 shares of the pipeline company’s stock valued at $238,000 after acquiring an additional 3,222 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

AM has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Weiss Ratings cut Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and a consensus target price of $24.50.

Insider Activity at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the transaction, the director owned 68,204 shares in the company, valued at $1,450,699.08. This represents a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the sale, the insider directly owned 83,900 shares of the company’s stock, valued at $1,846,639. This trade represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Antero Midstream Stock Down 1.6%

Shares of NYSE AM opened at $22.18 on Tuesday. The stock has a fifty day moving average price of $22.14 and a 200 day moving average price of $21.84. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a 12-month low of $16.96 and a 12-month high of $23.83. The company has a market cap of $10.53 billion, a P/E ratio of 26.40 and a beta of 0.65.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million for the quarter, compared to analysts’ expectations of $326.43 million. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.1%. Antero Midstream’s payout ratio is 107.14%.

About Antero Midstream

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.