Antero Midstream (NYSE:AM) Director Sells $106,350.00 in Stock

Key Points

• Director Brooks Klimley sold 5,000 Antero Midstream shares at an average price of $21.27, generating $106,350 and reducing his holdings by 6.83% to 68,204 shares.
• Antero Midstream shares rose 1.5% to $21.48, while the company announced a quarterly dividend of $0.225 per share, equivalent to a 4.2% annualized yield.
• Analysts maintain a consensus “Hold” rating with an average price target of $24.50; institutional investors own approximately 53.97% of the stock.

Antero Midstream Corporation (NYSE:AM - Get Free Report) Director Brooks Klimley sold 5,000 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the transaction, the director owned 68,204 shares in the company, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Antero Midstream Stock Up 1.5%

Shares of NYSE AM traded up $0.33 on Thursday, hitting $21.48. The company had a trading volume of 2,496,935 shares, compared to its average volume of 2,643,861. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a 12-month low of $16.96 and a 12-month high of $23.83. The firm has a market capitalization of $10.20 billion, a P/E ratio of 25.58 and a beta of 0.65. The business has a 50 day moving average of $22.02 and a two-hundred day moving average of $21.65.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.2%. Antero Midstream's dividend payout ratio (DPR) is 107.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research report on Tuesday, July 14th. Morgan Stanley raised shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price target for the company in a report on Wednesday, April 22nd. Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a report on Monday. Finally, Weiss Ratings cut shares of Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $24.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AM. Miller Howard Investments Inc. NY grew its position in Antero Midstream by 2.5% in the 4th quarter. Miller Howard Investments Inc. NY now owns 1,978,405 shares of the pipeline company's stock worth $35,196,000 after purchasing an additional 47,817 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Antero Midstream by 41.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 733,861 shares of the pipeline company's stock valued at $13,056,000 after purchasing an additional 216,416 shares during the period. Kesler Norman & Wride LLC bought a new stake in shares of Antero Midstream during the fourth quarter valued at approximately $939,000. Louisiana State Employees Retirement System bought a new stake in shares of Antero Midstream during the first quarter valued at approximately $2,189,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Antero Midstream by 19.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,592,910 shares of the pipeline company's stock worth $28,338,000 after buying an additional 254,088 shares during the period. 53.97% of the stock is currently owned by institutional investors.

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.

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