Hussman Strategic Advisors Inc. Purchases Shares of 42,000 Antero Midstream Corporation $AM

Hussman Strategic Advisors Inc. purchased a new stake in Antero Midstream Corporation (NYSE:AM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 42,000 shares of the pipeline company’s stock, valued at approximately $747,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AM. Richardson Financial Services Inc. raised its holdings in shares of Antero Midstream by 330.2% in the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 994 shares in the last quarter. Root Financial Partners LLC purchased a new stake in shares of Antero Midstream in the 3rd quarter valued at about $25,000. Elevation Wealth Partners LLC purchased a new stake in shares of Antero Midstream in the 4th quarter valued at about $27,000. Quent Capital LLC purchased a new stake in shares of Antero Midstream in the 3rd quarter valued at about $28,000. Finally, Global Retirement Partners LLC increased its position in shares of Antero Midstream by 33.3% during the 3rd quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

AM opened at $21.74 on Monday. The stock’s 50 day simple moving average is $22.36 and its 200 day simple moving average is $19.70. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. Antero Midstream Corporation has a 1 year low of $16.77 and a 1 year high of $23.83. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 25.27 and a beta of 0.68.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company had revenue of $314.21 million for the quarter, compared to the consensus estimate of $311.30 million. During the same quarter in the previous year, the business earned $0.25 earnings per share. Antero Midstream’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Antero Midstream Corporation will post 1.13 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Insider Buying and Selling

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the transaction, the director directly owned 69,680 shares in the company, valued at $1,613,788.80. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sheri Pearce sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total value of $318,640.00. Following the transaction, the insider owned 99,900 shares in the company, valued at approximately $2,273,724. The trade was a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 44,000 shares of company stock worth $1,004,690 in the last ninety days. 0.86% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AM. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 22nd. UBS Group increased their price objective on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. Wells Fargo & Company increased their price objective on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Finally, Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Antero Midstream has an average rating of “Hold” and a consensus price target of $24.00.

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.