Palo Duro Investment Partners LP Takes Position in Antero Midstream Corporation $AM

Palo Duro Investment Partners LP bought a new position in Antero Midstream Corporation (NYSE:AM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,759 shares of the pipeline company’s stock, valued at approximately $632,000. Antero Midstream makes up about 0.1% of Palo Duro Investment Partners LP’s holdings, making the stock its 18th largest holding.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Antero Midstream by 0.8% during the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock valued at $3,256,000 after acquiring an additional 1,371 shares during the period. AQR Capital Management LLC boosted its position in Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock valued at $1,508,000 after buying an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after buying an additional 1,400,368 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Antero Midstream by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock worth $17,029,000 after buying an additional 43,335 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Antero Midstream by 5.9% during the second quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock worth $344,000 after buying an additional 1,009 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insider Transactions at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the sale, the director owned 68,204 shares in the company, valued at $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the sale, the insider directly owned 83,900 shares of the company’s stock, valued at approximately $1,846,639. The trade was a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Antero Midstream Price Performance

Shares of AM opened at $22.60 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The company’s fifty day simple moving average is $22.27 and its 200 day simple moving average is $22.02. Antero Midstream Corporation has a 1-year low of $16.96 and a 1-year high of $23.83. The company has a market cap of $10.73 billion, a price-to-earnings ratio of 26.90 and a beta of 0.65.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, meeting analysts’ consensus estimates of $0.27. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The firm had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $326.43 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, research analysts forecast that Antero Midstream Corporation will post 1.09 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is 107.14%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AM shares. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a report on Tuesday, July 14th. Weiss Ratings cut Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.

About Antero Midstream

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.