Thrivent Financial for Lutherans Sells 76,878 Shares of Antero Midstream Corporation $AM

Thrivent Financial for Lutherans lessened its stake in Antero Midstream Corporation (NYSE:AM) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 517,445 shares of the pipeline company’s stock after selling 76,878 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Antero Midstream were worth $10,059,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Richardson Financial Services Inc. raised its position in Antero Midstream by 330.2% during the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 994 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Antero Midstream in the 3rd quarter valued at about $25,000. Quent Capital LLC acquired a new stake in Antero Midstream in the 3rd quarter valued at about $28,000. Global Retirement Partners LLC grew its holdings in Antero Midstream by 33.3% during the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock worth $44,000 after purchasing an additional 565 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its position in Antero Midstream by 58.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 2,700 shares of the pipeline company’s stock worth $51,000 after buying an additional 1,000 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Up 0.5%

AM stock opened at $18.74 on Thursday. Antero Midstream Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $19.82. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 19.12 and a beta of 0.81. The business’s fifty day moving average price is $18.06 and its two-hundred day moving average price is $18.08.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, January 28th. This represents a $0.90 annualized dividend and a yield of 4.8%. Antero Midstream’s payout ratio is 91.84%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AM shares. Morgan Stanley raised their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, November 12th. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday. Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 23rd. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.17.

Insider Transactions at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the sale, the director owned 72,622 shares of the company’s stock, valued at $1,277,420.98. The trade was a 6.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.86% of the stock is owned by corporate insiders.

Antero Midstream Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.