Rhumbline Advisers Sells 37,641 Shares of Antero Midstream Corporation $AM

Rhumbline Advisers trimmed its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 3.7% during the second quarter, HoldingsChannel reports. The fund owned 986,675 shares of the pipeline company’s stock after selling 37,641 shares during the quarter. Rhumbline Advisers’ holdings in Antero Midstream were worth $18,697,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. US Bancorp DE increased its holdings in Antero Midstream by 1.6% in the second quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock valued at $722,000 after purchasing an additional 610 shares during the period. Amundi increased its stake in shares of Antero Midstream by 3,121.9% in the first quarter. Amundi now owns 125,913 shares of the pipeline company’s stock valued at $2,263,000 after buying an additional 122,005 shares during the period. Jump Financial LLC acquired a new stake in shares of Antero Midstream in the first quarter valued at about $8,402,000. Russell Investments Group Ltd. raised its position in shares of Antero Midstream by 94.4% during the first quarter. Russell Investments Group Ltd. now owns 45,070 shares of the pipeline company’s stock worth $811,000 after acquiring an additional 21,886 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Antero Midstream in the first quarter worth approximately $289,000. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Up 1.2%

Shares of NYSE AM opened at $18.01 on Friday. 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 firm has a market cap of $8.58 billion, a PE ratio of 18.38 and a beta of 0.88. The company’s fifty day simple moving average is $18.22 and its 200 day simple moving average is $18.18. Antero Midstream Corporation has a 12-month low of $14.22 and a 12-month high of $19.82.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.02. The firm had revenue of $294.82 million for the quarter, compared to analyst estimates of $287.30 million. Antero Midstream had a net margin of 40.07% and a return on equity of 22.53%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, sell-side analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Wednesday, October 22nd. Antero Midstream’s dividend payout ratio (DPR) is 91.84%.

Wall Street Analyst Weigh In

AM has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Morgan Stanley increased their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 12th. The Goldman Sachs Group lifted their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a “neutral” rating in a research note on Monday, August 18th. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.83.

Antero Midstream Company 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.