Ethic Inc. Has $2.58 Million Holdings in Antero Midstream Corporation $AM

Ethic Inc. cut its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 136,628 shares of the pipeline company’s stock after selling 4,525 shares during the quarter. Ethic Inc.’s holdings in Antero Midstream were worth $2,581,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Transce3nd LLC acquired a new position in shares of Antero Midstream in the first quarter valued at $29,000. Brooklyn Investment Group raised its stake in shares of Antero Midstream by 41.2% in the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company’s stock valued at $82,000 after purchasing an additional 1,328 shares in the last quarter. Bayforest Capital Ltd raised its stake in shares of Antero Midstream by 277.3% in the second quarter. Bayforest Capital Ltd now owns 6,542 shares of the pipeline company’s stock valued at $124,000 after purchasing an additional 4,808 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Antero Midstream by 34.0% in the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company’s stock valued at $154,000 after purchasing an additional 2,165 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Antero Midstream by 7.1% in the first quarter. CWM LLC now owns 9,472 shares of the pipeline company’s stock valued at $170,000 after purchasing an additional 629 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

Antero Midstream stock opened at $17.83 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day moving average price of $18.39 and a two-hundred day moving average price of $18.05. Antero Midstream Corporation has a 52-week low of $14.22 and a 52-week high of $19.82. The firm has a market capitalization of $8.53 billion, a P/E ratio of 18.77 and a beta of 0.85.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The firm had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. During the same period in the prior year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 22nd. Antero Midstream’s dividend payout ratio is presently 94.74%.

Analysts Set New Price Targets

A number of brokerages recently commented on AM. Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a research note on Friday. Morgan Stanley upped their target price on Antero Midstream from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Antero Midstream from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company increased their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.50.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the sale, the insider owned 106,489 shares in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company’s stock.

About Antero Midstream

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.