Amundi Acquires 389,859 Shares of Antero Midstream Corporation $AM

Amundi lifted its stake in Antero Midstream Corporation (NYSE:AM) by 70.8% during the second quarter, HoldingsChannel.com reports. The firm owned 940,170 shares of the pipeline company’s stock after purchasing an additional 389,859 shares during the quarter. Amundi’s holdings in Antero Midstream were worth $21,389,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AM. Continuum Advisory LLC purchased a new position in Antero Midstream during the second quarter valued at $25,000. Clearstead Trust LLC bought a new position in shares of Antero Midstream during the second quarter valued at $30,000. Ancora Advisors LLC purchased a new position in shares of Antero Midstream in the 2nd quarter worth about $38,000. Arax Advisory Partners boosted its stake in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 791 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $22.09 on Friday. The firm’s 50-day moving average price is $22.31 and its 200-day moving average price is $22.16. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The company has a market cap of $10.48 billion, a PE ratio of 26.29 and a beta of 0.65. 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 posted its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The business had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. As a group, analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of 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 company an “equal weight” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.50.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was 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 of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the transaction, the insider directly owned 83,900 shares in the company, valued at $1,846,639. The trade was a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Antero Midstream Company Profile

Antero Midstream Corp. (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company provides gathering, compression, processing and water-handling services, primarily for Antero Resources and other producers.

Antero Midstream’s gathering and compression assets collect production from wells and transport it to processing and downstream markets. Its water business provides fresh-water delivery and wastewater handling services, including the gathering, recycling and disposal of water used in hydraulic fracturing and other production activities.

The company’s operations are concentrated in the Appalachian Basin, particularly in the Marcellus and Utica shale areas of West Virginia and Ohio.