NEOS Investment Management LLC Has $24.67 Million Stock Position in Antero Midstream Corporation $AM

NEOS Investment Management LLC raised its stake in Antero Midstream Corporation (NYSE:AM) by 37.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,084,544 shares of the pipeline company’s stock after buying an additional 295,709 shares during the quarter. NEOS Investment Management LLC’s holdings in Antero Midstream were worth $24,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Continuum Advisory LLC acquired a new position in Antero Midstream in the 2nd quarter worth $25,000. Clearstead Trust LLC acquired a new stake in shares of Antero Midstream in the 2nd quarter valued at about $30,000. Larson Financial Group LLC lifted its holdings in shares of Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares in the last quarter. Arax Advisory Partners lifted its holdings in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 791 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in shares of Antero Midstream during the second quarter worth about $38,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Up 0.7%

NYSE:AM opened at $22.61 on Friday. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 26.92 and a beta of 0.65. Antero Midstream Corporation has a twelve month low of $16.96 and a twelve month high of $23.83. The stock’s 50 day moving average price is $22.31 and its two-hundred day moving average price is $22.12. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83.

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

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. Antero Midstream’s dividend payout ratio (DPR) is currently 107.14%.

Insider Activity

In other news, insider Sheri Pearce sold 16,000 shares of the company’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 completion of the sale, the insider directly owned 83,900 shares in the company, valued at approximately $1,846,639. This represents a 16.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was 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 $1,450,699.08. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Antero Midstream Company 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.