Legal & General Group Plc Sells 46,327 Shares of Antero Midstream Co. (NYSE:AM)

Legal & General Group Plc reduced its stake in Antero Midstream Co. (NYSE:AM) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 558,942 shares of the pipeline company’s stock after selling 46,327 shares during the period. Legal & General Group Plc’s holdings in Antero Midstream were worth $8,434,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of AM. Cerity Partners LLC raised its stake in shares of Antero Midstream by 315.3% in the fourth quarter. Cerity Partners LLC now owns 165,449 shares of the pipeline company’s stock valued at $2,496,000 after acquiring an additional 125,607 shares during the period. Waterloo Capital L.P. raised its position in Antero Midstream by 9.9% in the 4th quarter. Waterloo Capital L.P. now owns 134,645 shares of the pipeline company’s stock worth $2,032,000 after purchasing an additional 12,083 shares during the period. Russell Investments Group Ltd. lifted its stake in Antero Midstream by 11.1% in the fourth quarter. Russell Investments Group Ltd. now owns 23,184 shares of the pipeline company’s stock worth $350,000 after purchasing an additional 2,309 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Antero Midstream by 0.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 492,735 shares of the pipeline company’s stock valued at $7,435,000 after buying an additional 2,649 shares during the last quarter. Finally, ExodusPoint Capital Management LP raised its holdings in shares of Antero Midstream by 247.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 405,572 shares of the pipeline company’s stock worth $6,120,000 after buying an additional 288,946 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

Shares of NYSE:AM opened at $17.15 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $8.21 billion, a PE ratio of 20.67 and a beta of 1.99. The firm’s 50 day simple moving average is $16.91 and its 200-day simple moving average is $15.97. Antero Midstream Co. has a one year low of $13.12 and a one year high of $18.49.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, February 12th. The pipeline company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Antero Midstream had a net margin of 36.24% and a return on equity of 18.82%. As a group, equities analysts predict that Antero Midstream Co. will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.25%. The ex-dividend date is Wednesday, April 23rd. Antero Midstream’s payout ratio is 108.43%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on AM shares. Wells Fargo & Company boosted their price objective on Antero Midstream from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. StockNews.com raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. 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.