Truist Financial Corp reduced its stake in Antero Midstream Co. (NYSE:AM – Get Rating) by 28.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,940 shares of the pipeline company's stock after selling 12,261 shares during the period. Truist Financial Corp's holdings in Antero Midstream were worth $337,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Antero Midstream by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,234,864 shares of the pipeline company's stock valued at $89,392,000 after buying an additional 606,424 shares in the last quarter. State Street Corp lifted its position in Antero Midstream by 1.1% during the 4th quarter. State Street Corp now owns 8,928,252 shares of the pipeline company's stock valued at $86,425,000 after acquiring an additional 92,886 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Antero Midstream by 2.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,505,573 shares of the pipeline company's stock worth $43,614,000 after purchasing an additional 90,874 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Antero Midstream by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 3,957,738 shares of the pipeline company's stock valued at $38,310,000 after purchasing an additional 245,383 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Antero Midstream by 71.4% in the 4th quarter. First Trust Advisors LP now owns 3,452,034 shares of the pipeline company's stock worth $33,416,000 after purchasing an additional 1,437,588 shares in the last quarter. 53.92% of the stock is currently owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Barclays lowered their price objective on Antero Midstream from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Wednesday, July 20th. StockNews.com started coverage on Antero Midstream in a research report on Thursday, March 31st. They issued a "hold" rating for the company. Finally, Wells Fargo & Company raised shares of Antero Midstream from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $12.00 to $13.00 in a research report on Thursday, April 28th.
Antero Midstream Stock Performance
AM stock opened at $9.85 on Friday. The stock's 50 day simple moving average is $9.90 and its 200 day simple moving average is $10.18. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.39. Antero Midstream Co. has a 12-month low of $8.42 and a 12-month high of $11.71. The stock has a market capitalization of $4.71 billion, a PE ratio of 14.04 and a beta of 2.65.
Antero Midstream (NYSE:AM – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The pipeline company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The business had revenue of $218.49 million during the quarter, compared to the consensus estimate of $216.32 million. Antero Midstream had a return on equity of 17.41% and a net margin of 36.77%. During the same quarter in the previous year, the business posted $0.21 earnings per share. As a group, research analysts forecast that Antero Midstream Co. will post 0.79 earnings per share for the current fiscal year.
Antero Midstream Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Wednesday, July 27th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Tuesday, July 26th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 9.14%. Antero Midstream's dividend payout ratio is presently 130.44%.
Insider Activity
In other news, insider Brendan E. Krueger purchased 3,000 shares of the company's stock in a transaction dated Wednesday, May 4th. The shares were purchased at an average cost of $10.54 per share, for a total transaction of $31,620.00. Following the purchase, the insider now directly owns 280,430 shares in the company, valued at approximately $2,955,732.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Antero Midstream news, insider Brendan E. Krueger acquired 3,000 shares of the stock in a transaction dated Wednesday, May 4th. The shares were purchased at an average price of $10.54 per share, for a total transaction of $31,620.00. Following the purchase, the insider now directly owns 280,430 shares of the company's stock, valued at $2,955,732.20. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director David H. Keyte bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average price of $9.80 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now directly owns 59,587 shares of the company's stock, valued at approximately $583,952.60. The disclosure for this purchase can be found here. Insiders sold 865,620 shares of company stock valued at $8,963,071 over the last three months. Insiders own 0.80% of the company's stock.
Antero Midstream Company Profile
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Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. It operates through Gathering and Processing, and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.
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