Pekin Hardy Strauss Inc. Sells 4,500 Shares of Antero Midstream Corporation $AM

Pekin Hardy Strauss Inc. trimmed its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,500 shares of the pipeline company’s stock after selling 4,500 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Antero Midstream were worth $1,222,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. grew its position in shares of Antero Midstream by 2.0% during the 1st quarter. Invesco Ltd. now owns 30,631,765 shares of the pipeline company’s stock worth $551,372,000 after purchasing an additional 586,966 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of Antero Midstream by 31.7% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company’s stock valued at $167,614,000 after buying an additional 2,242,283 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Antero Midstream by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company’s stock valued at $164,653,000 after buying an additional 34,596 shares during the period. Bank of New York Mellon Corp grew its position in Antero Midstream by 7.1% during the second quarter. Bank of New York Mellon Corp now owns 6,418,323 shares of the pipeline company’s stock worth $121,627,000 after buying an additional 426,777 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Antero Midstream by 17.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company’s stock worth $83,922,000 after acquiring an additional 697,234 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AM. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Wall Street Zen downgraded Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Antero Midstream in a research report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the company a “neutral” rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.50.

Insiders Place Their Bets

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 value of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Antero Midstream Stock Performance

NYSE:AM opened at $17.70 on Friday. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. The stock’s 50-day simple moving average is $18.35 and its 200 day simple moving average is $18.13. The firm has a market capitalization of $8.43 billion, a PE ratio of 18.06 and a beta of 0.88.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, October 29th. The pipeline company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Antero Midstream had a return on equity of 22.53% and a net margin of 40.07%.The company had revenue of $294.82 million during the quarter, compared to the consensus estimate of $287.30 million. During the same period last year, the company posted $0.21 EPS. The firm’s revenue was down 8.4% compared to the same quarter last year. On average, analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd were given a $0.225 dividend. The ex-dividend date was Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a yield of 5.1%. Antero Midstream’s dividend payout ratio (DPR) is currently 91.84%.

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.