Antero Midstream Corporation $AM Shares Sold by Shah Capital Management

Shah Capital Management cut its stake in shares of Antero Midstream Corporation (NYSE:AM) by 6.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 521,713 shares of the pipeline company’s stock after selling 35,117 shares during the quarter. Antero Midstream makes up 1.7% of Shah Capital Management’s portfolio, making the stock its 7th largest holding. Shah Capital Management owned about 0.11% of Antero Midstream worth $10,518,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AM. Squarepoint Ops LLC lifted its holdings in Antero Midstream by 285.7% during the 2nd quarter. Squarepoint Ops LLC now owns 77,056 shares of the pipeline company’s stock worth $1,753,000 after buying an additional 57,077 shares in the last quarter. Amundi lifted its stake in shares of Antero Midstream by 70.8% during the second quarter. Amundi now owns 940,170 shares of the pipeline company’s stock valued at $21,389,000 after acquiring an additional 389,859 shares during the period. Kayne Anderson Capital Advisors LP acquired a new stake in Antero Midstream in the second quarter worth about $49,883,000. Cetera Investment Advisers raised its holdings in Antero Midstream by 9.9% during the 1st quarter. Cetera Investment Advisers now owns 867,200 shares of the pipeline company’s stock worth $19,772,000 after purchasing an additional 77,936 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of Antero Midstream in the 2nd quarter valued at about $3,763,000. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brooks Klimley sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the transaction, the director owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on AM shares. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research report on Tuesday, July 14th. UBS Group reduced their target price on Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, September 21st. Wells Fargo & Company increased their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Weiss Ratings cut shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Finally, Capital One Financial raised shares of Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 price target on the stock in a research report on Tuesday, September 22nd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.20.

Antero Midstream Stock Down 0.7%

Shares of Antero Midstream stock traded down $0.16 during trading on Friday, reaching $21.03. The stock had a trading volume of 592,067 shares, compared to its average volume of 2,590,424. 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 has a market capitalization of $9.98 billion, a price-to-earnings ratio of 25.04 and a beta of 0.72. The stock has a fifty day moving average price of $21.75 and a two-hundred day moving average price of $21.92. Antero Midstream Corporation has a 52 week low of $16.96 and a 52 week high of $23.83.

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

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were paid a dividend of $0.2250 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is currently 107.14%.

Antero Midstream Company Profile

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production in the Appalachian Basin. The company primarily serves Antero Resources Corporation, providing the gathering and processing services needed to move production from well sites into downstream markets.

Antero Midstream’s operations include natural gas gathering, compression and processing, as well as water handling and related services.