51,788 Shares in Antero Midstream Corporation $AM Bought by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP acquired 51,788 Antero Midstream shares during the second quarter, valued at approximately $1.18 million. Several other institutional investors also initiated positions, bringing institutional ownership to 53.97%.
• Analysts maintain a generally cautious outlook, with one Buy rating and five Hold ratings. Antero Midstream has an average price target of $24.50, compared with a recent share price of $22.61.
• The company reported quarterly earnings of $0.27 per share and revenue of $327.24 million, while revenue increased 7.1% year over year. It also declared a $0.225 quarterly dividend, equivalent to a 4.0% yield, though its payout ratio stood at 107.14%.

Corient Private Wealth LP purchased a new position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 51,788 shares of the pipeline company's stock, valued at approximately $1,178,000.

Several other hedge funds have also recently made changes to their positions in the business. Palo Duro Investment Partners LP bought a new stake in shares of Antero Midstream in the 2nd quarter valued at $632,000. Bank of America Corp DE acquired a new position in Antero Midstream during the 2nd quarter worth approximately $21,090,000. Strategic Global Advisors LLC bought a new position in Antero Midstream in the second quarter worth approximately $4,558,000. Freestone Grove Partners LP bought a new stake in shares of Antero Midstream during the second quarter valued at approximately $15,895,000. Finally, Caisse de depot et placement du Quebec acquired a new position in shares of Antero Midstream during the second quarter worth approximately $1,611,000. 53.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AM has been the topic of several recent research reports. Wells Fargo & Company raised 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 downgraded Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Antero Midstream presently has an average rating of "Hold" and an average target price of $24.50.

Antero Midstream Price Performance

AM opened at $22.61 on Friday. Antero Midstream Corporation has a fifty-two week low of $16.96 and a fifty-two week high of $23.83. The firm has a 50-day moving average of $22.31 and a 200 day moving average of $22.12. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $10.73 billion, a P/E ratio of 26.92 and a beta of 0.65.

Antero Midstream (NYSE:AM - Get Free Report) last released its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting analysts' consensus estimates of $0.27. The firm had revenue of $327.24 million for the quarter, compared to analysts' expectations of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The company's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. On average, research analysts expect that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream's dividend payout ratio is currently 107.14%.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 16,000 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the transaction, the insider directly owned 83,900 shares of the company's stock, valued at $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brooks J. 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 transaction of $106,350.00. Following the completion of the transaction, the director owned 68,204 shares of the company's stock, valued at $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Antero Midstream Company 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.

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