Antero Midstream Corporation $AM Position Lowered by Van ECK Associates Corp

Van ECK Associates Corp decreased its stake in shares of Antero Midstream Corporation (NYSE:AM) by 32.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 121,661 shares of the pipeline company’s stock after selling 57,774 shares during the period. Van ECK Associates Corp’s holdings in Antero Midstream were worth $2,768,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its position in shares of Antero Midstream by 41.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 733,861 shares of the pipeline company’s stock worth $13,056,000 after acquiring an additional 216,416 shares in the last quarter. Kesler Norman & Wride LLC acquired a new stake in shares of Antero Midstream during the 4th quarter valued at approximately $939,000. Cetera Investment Advisers raised its position in shares of Antero Midstream by 9.9% during the 1st quarter. Cetera Investment Advisers now owns 867,200 shares of the pipeline company’s stock valued at $19,772,000 after acquiring an additional 77,936 shares in the last quarter. Kayne Anderson Capital Advisors LP bought a new position in Antero Midstream during the second quarter worth $49,883,000. Finally, BNP Paribas Financial Markets lifted its stake in Antero Midstream by 19.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,592,910 shares of the pipeline company’s stock worth $28,338,000 after purchasing an additional 254,088 shares during the last quarter. 53.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Weiss Ratings lowered shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Wells Fargo & Company raised their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Antero Midstream presently has a consensus rating of “Hold” and a consensus target price of $24.50.

Insider Buying and Selling at Antero Midstream

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

Antero Midstream Stock Performance

AM opened at $22.47 on Friday. The business’s 50 day moving average is $22.32 and its 200-day moving average is $22.11. The stock has a market cap of $10.67 billion, a PE ratio of 26.75 and a beta of 0.65. 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 twelve month low of $16.96 and a twelve month high of $23.83.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (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 business had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts predict that Antero Midstream Corporation will post 1.09 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s payout ratio is 107.14%.

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.