New York State Common Retirement Fund lowered its stake in shares of Antero Midstream Co. (NYSE:AM – Get Rating) by 5.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 353,442 shares of the pipeline company's stock after selling 19,306 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Antero Midstream worth $3,842,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. JGP Wealth Management LLC raised its holdings in shares of Antero Midstream by 3.4% in the 1st quarter. JGP Wealth Management LLC now owns 35,609 shares of the pipeline company's stock worth $388,000 after acquiring an additional 1,177 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Antero Midstream by 1.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 85,000 shares of the pipeline company's stock valued at $973,000 after acquiring an additional 1,500 shares during the period. M&T Bank Corp grew its position in shares of Antero Midstream by 14.8% during the 4th quarter. M&T Bank Corp now owns 16,126 shares of the pipeline company's stock valued at $157,000 after acquiring an additional 2,075 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Antero Midstream by 34.2% during the 4th 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 during the period. Finally, Commonwealth Equity Services LLC grew its position in shares of Antero Midstream by 2.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 94,763 shares of the pipeline company's stock valued at $917,000 after acquiring an additional 2,531 shares during the period. Institutional investors and hedge funds own 53.92% of the company's stock.
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Antero Midstream Trading Up 0.5 %
NYSE:AM opened at $10.43 on Friday. 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 current ratio of 0.62 and a quick ratio of 0.62. The company's 50-day simple moving average is $9.73 and its 200 day simple moving average is $10.16. The firm has a market capitalization of $4.99 billion, a P/E ratio of 15.12 and a beta of 2.60.
Antero Midstream (NYSE:AM – Get Rating) last issued 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 firm had revenue of $228.91 million during the quarter, compared to analysts' expectations of $238.28 million. Antero Midstream had a return on equity of 17.01% and a net
margin of 36.84%. The firm's quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, analysts forecast 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. Investors of record on Wednesday, July 27th were given 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 8.63%. Antero Midstream's dividend payout ratio (DPR) is 130.44%.
Insider Activity at Antero Midstream
In other Antero Midstream news, Director W Howard Keenan, Jr. sold 303,254 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 517,138 shares in the company, valued at $5,336,864.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Antero Midstream news, Director W Howard Keenan, Jr. sold 303,254 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 517,138 shares in the company, valued at $5,336,864.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director W Howard Keenan, Jr. sold 68,502 shares of the company's stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $10.19, for a total transaction of $698,035.38. Following the completion of the transaction, the director now owns 311,778 shares of the company's stock, valued at $3,177,017.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 865,620 shares of company stock worth $8,963,071. 0.80% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
AM has been the subject of a number of research reports. TheStreet downgraded shares of Antero Midstream from a "b-" rating to a "c" rating in a research report on Wednesday, July 27th. Barclays cut their price objective on shares of Antero Midstream from $10.00 to $9.00 and set an "underweight" rating for the company in a report on Wednesday, July 20th. Finally, Wells Fargo & Company upgraded shares of Antero Midstream from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $12.00 to $13.00 in a research note on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $11.00.
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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