Antero Midstream (NYSE:AM) Director Brooks Klimley Sells 5,000 Shares of Stock

Antero Midstream Corporation (NYSE:AM) Director Brooks Klimley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the sale, the director owned 69,680 shares of the company’s stock, valued at $1,613,788.80. This trade represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Antero Midstream Stock Up 0.9%

Shares of AM stock traded up $0.22 during midday trading on Friday, reaching $23.07. 1,244,285 shares of the stock were exchanged, compared to its average volume of 2,929,979. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. Antero Midstream Corporation has a 1 year low of $15.07 and a 1 year high of $23.34. The firm has a market cap of $10.91 billion, a PE ratio of 26.83 and a beta of 0.77. The company’s 50 day moving average is $20.00 and its two-hundred day moving average is $18.78.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The company had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price target on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. Finally, Wells Fargo & Company increased their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Antero Midstream in the 2nd quarter worth approximately $80,504,000. Bank of New York Mellon Corp lifted its holdings in Antero Midstream by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after purchasing an additional 1,430,138 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in Antero Midstream during the fourth quarter valued at approximately $25,084,000. Goldman Sachs Group Inc. boosted its position in shares of Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after purchasing an additional 1,400,368 shares during the period. Finally, SIR Capital Management L.P. boosted its position in shares of Antero Midstream by 1,086.9% in the third quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock worth $26,892,000 after purchasing an additional 1,266,794 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

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.