Antero Midstream Co. (NYSE:AM – Get Rating) saw a large growth in short interest in July. As of July 31st, there was short interest totalling 9,910,000 shares, a growth of 20.0% from the July 15th total of 8,260,000 shares. Based on an average trading volume of 3,800,000 shares, the short-interest ratio is currently 2.6 days. Approximately 3.1% of the company's stock are sold short.
Insiders Place Their Bets
In other Antero Midstream news, Director W Howard Keenan, Jr. sold 242,868 shares of the business's stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $10.49, for a total transaction of $2,547,685.32. Following the completion of the transaction, the director now owns 114,555 shares in the company, valued at approximately $1,201,681.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Antero Midstream news, Director W Howard Keenan, Jr. sold 68,502 shares of the business's stock in a transaction that occurred on Friday, May 20th. The shares were 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 in the company, valued at approximately $3,177,017.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director W Howard Keenan, Jr. sold 242,868 shares of the company's stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $10.49, for a total transaction of $2,547,685.32. Following the completion of the transaction, the director now owns 114,555 shares of the company's stock, valued at approximately $1,201,681.95. The disclosure for this sale can be found here. Insiders sold 865,620 shares of company stock worth $8,963,071 in the last 90 days. Corporate insiders own 0.80% of the company's stock.
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Hedge Funds Weigh In On Antero Midstream
Large investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Antero Midstream by 9.1% during the 1st quarter. BlackRock Inc. now owns 32,917,158 shares of the pipeline company's stock worth $357,809,000 after purchasing an additional 2,743,230 shares during the period. Cinctive Capital Management LP grew its stake in shares of Antero Midstream by 194.1% during the 4th quarter. Cinctive Capital Management LP now owns 3,128,415 shares of the pipeline company's stock worth $30,283,000 after purchasing an additional 2,064,628 shares during the period. First Trust Advisors LP grew its stake in shares of Antero Midstream by 51.3% during the 1st quarter. First Trust Advisors LP now owns 5,221,579 shares of the pipeline company's stock worth $56,759,000 after purchasing an additional 1,769,545 shares during the period. American Century Companies Inc. grew its stake in Antero Midstream by 310.2% in the 4th quarter. American Century Companies Inc. now owns 2,271,645 shares of the pipeline company's stock valued at $21,990,000 after acquiring an additional 1,717,803 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Antero Midstream in the 4th quarter valued at about $16,465,000. Hedge funds and other institutional investors own 53.92% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on AM. TheStreet cut shares of Antero Midstream from a "b-" rating to a "c" rating in a report on Wednesday, July 27th. Wells Fargo & Company upgraded shares of Antero Midstream from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $12.00 to $13.00 in a research report on Thursday, April 28th. Finally, Barclays reduced their price target on shares of Antero Midstream from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Wednesday, July 20th. One equities research 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 MarketBeat.com, Antero Midstream currently has an average rating of "Hold" and a consensus price target of $11.00.
Antero Midstream Stock Performance
Antero Midstream stock traded down $0.17 during trading hours on Monday, reaching $10.26. 2,176,286 shares of the stock were exchanged, compared to its average volume of 3,750,450. The stock has a market cap of $4.91 billion, a P/E ratio of 14.87 and a beta of 2.61. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.62 and a current ratio of 0.62. Antero Midstream has a 52-week low of $8.42 and a 52-week high of $11.71. The firm's 50 day moving average is $9.71 and its 200 day moving average is $10.17.
Antero Midstream (NYSE:AM – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The pipeline company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). The firm had revenue of $228.91 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. Analysts predict that Antero Midstream will post 0.79 EPS for the current fiscal year.
Antero Midstream Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 10th. Shareholders 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 dividend on an annualized basis and a yield of 8.77%. Antero Midstream's payout ratio is currently 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.
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