Texas Permanent School Fund lowered its holdings in shares of Antero Midstream Co. (NYSE:AM – Get Rating) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,199 shares of the pipeline company's stock after selling 4,926 shares during the quarter. Texas Permanent School Fund's holdings in Antero Midstream were worth $2,502,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Allworth Financial LP lifted its position in shares of Antero Midstream by 7,916.7% in the first quarter. Allworth Financial LP now owns 4,810 shares of the pipeline company's stock valued at $52,000 after acquiring an additional 4,750 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Antero Midstream in the first quarter valued at approximately $83,000. Geneos Wealth Management Inc. lifted its position in shares of Antero Midstream by 34.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 8,237 shares of the pipeline company's stock valued at $79,000 after acquiring an additional 2,100 shares in the last quarter. Shepherd Kaplan Krochuk LLC purchased a new position in shares of Antero Midstream in the fourth quarter valued at approximately $100,000. Finally, PDT Partners LLC purchased a new position in shares of Antero Midstream in the fourth quarter valued at approximately $120,000. Hedge funds and other institutional investors own 53.92% of the company's stock.
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Analyst Ratings Changes
Several research firms have recently weighed in on AM. Wells Fargo & Company upgraded Antero Midstream from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $12.00 to $13.00 in a research report on Thursday, April 28th. TheStreet cut Antero Midstream from a "b-" rating to a "c" rating in a report on Wednesday, July 27th. Finally, Barclays cut their price target on Antero Midstream from $10.00 to $9.00 and set an "underweight" rating for the company in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $11.00.
Insiders Place Their Bets
In other Antero Midstream news, Director W Howard Keenan, Jr. sold 242,868 shares of the firm's stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $10.49, for a total transaction of $2,547,685.32. Following the completion of the sale, the director now owns 114,555 shares of the company's stock, valued at $1,201,681.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director W Howard Keenan, Jr. sold 242,868 shares of Antero Midstream stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $10.49, for a total value of $2,547,685.32. Following the completion of the sale, the director now directly owns 114,555 shares of the company's stock, valued at $1,201,681.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director W Howard Keenan, Jr. sold 303,254 shares of Antero Midstream stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $10.32, for a total value of $3,129,581.28. Following the completion of the sale, the director now directly owns 517,138 shares of the company's stock, valued at $5,336,864.16. The disclosure for this sale can be found here. Insiders sold a total of 865,620 shares of company stock valued at $8,963,071 over the last quarter. 0.80% of the stock is owned by insiders.
Antero Midstream Price Performance
NYSE:AM opened at $10.08 on Thursday. Antero Midstream Co. has a one year low of $8.42 and a one year high of $11.71. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $4.82 billion, a PE ratio of 14.61 and a beta of 2.60. The stock has a 50 day moving average price of $9.76 and a 200 day moving average price of $10.15.
Antero Midstream (NYSE:AM – Get Rating) last posted its earnings results on Wednesday, July 27th. The pipeline company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $228.91 million for the quarter, compared to analyst estimates of $238.28 million. Antero Midstream had a return on equity of 17.01% and a net margin of 36.84%. Antero Midstream's revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. Equities research analysts expect that Antero Midstream Co. will post 0.79 EPS for the current fiscal year.
Antero Midstream Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 10th. Shareholders of record on Wednesday, July 27th were paid a dividend of $0.225 per share. The ex-dividend date was Tuesday, July 26th. This represents a $0.90 annualized dividend and a yield of 8.93%. Antero Midstream's dividend payout ratio (DPR) is 130.44%.
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.
Further Reading
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