Antero Midstream Corporation $AM Holdings Raised by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Antero Midstream Corporation (NYSE:AM) by 49.2% in the third quarter, HoldingsChannel reports. The firm owned 374,400 shares of the pipeline company’s stock after buying an additional 123,400 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Antero Midstream were worth $7,548,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Antero Midstream during the second quarter worth about $869,045,000. Bank of New York Mellon Corp purchased a new stake in Antero Midstream during the second quarter worth approximately $157,371,000. Kayne Anderson Capital Advisors LP purchased a new stake in Antero Midstream during the 2nd quarter worth $49,883,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Antero Midstream during the 2nd quarter valued at about $46,007,000. Finally, RR Advisors LLC purchased a new stake in shares of Antero Midstream during the second quarter valued at approximately $34,435,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AM shares. Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Capital One Financial upgraded shares of Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a research note on Tuesday, September 22nd. Wells Fargo & Company boosted their target price 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. Zacks Research downgraded shares of Antero Midstream from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, UBS Group cut their target price on shares of Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, September 21st. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.20.

Insider Transactions at Antero Midstream

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

Antero Midstream Price Performance

Shares of AM opened at $20.81 on Tuesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a fifty day moving average price of $21.45 and a 200 day moving average price of $21.47. The company has a market cap of $9.88 billion, a P/E ratio of 24.78 and a beta of 0.72. Antero Midstream Corporation has a 12 month low of $16.96 and a 12 month high of $23.83.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The company had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. During the same quarter last year, the business earned $0.29 earnings per share. Antero Midstream’s revenue was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Antero Midstream Corporation will post 1.23 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 11th. Shareholders of record on Wednesday, October 28th will be paid a dividend of $0.2250 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Antero Midstream Profile

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company’s services include gathering and compression, water handling and other infrastructure activities that help producers transport hydrocarbons from well sites to processing and takeaway facilities.

Antero Midstream primarily serves Antero Resources’ operations in the Appalachian Basin, particularly in West Virginia and Ohio.