59,088 Antero Midstream Corporation $AM Shares Sold by Nisa Investment Advisors LLC

Key Points

• Nisa Investment Advisors reduced its Antero Midstream stake by 47.1%, selling 59,088 shares in the third quarter and retaining 66,263 shares valued at approximately $1.34 million.
• Analyst sentiment is largely neutral: Antero Midstream has an average “Hold” rating and a consensus price target of $24.20, though Zacks downgraded the stock to “Strong Sell.”
• Antero Midstream reported quarterly EPS of $0.27 and revenue of $327.24 million, while maintaining a quarterly dividend of $0.225 per share, equivalent to a 4.3% annualized yield.

Nisa Investment Advisors LLC cut its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 47.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,263 shares of the pipeline company's stock after selling 59,088 shares during the period. Nisa Investment Advisors LLC's holdings in Antero Midstream were worth $1,336,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AM. Root Financial Partners LLC grew its stake in shares of Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock valued at $46,000 after purchasing an additional 537 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Antero Midstream by 2.6% in the first quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company's stock valued at $489,000 after purchasing an additional 537 shares during the period. Wedmont Private Capital raised its stake in shares of Antero Midstream by 2.1% during the second quarter. Wedmont Private Capital now owns 29,797 shares of the pipeline company's stock worth $664,000 after purchasing an additional 608 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Antero Midstream by 3.0% during the second quarter. Parkside Financial Bank & Trust now owns 21,743 shares of the pipeline company's stock worth $495,000 after purchasing an additional 642 shares during the last quarter. Finally, Keybank National Association OH raised its stake in shares of Antero Midstream by 7.0% during the first quarter. Keybank National Association OH now owns 11,079 shares of the pipeline company's stock worth $253,000 after purchasing an additional 729 shares during the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AM. Zacks Research downgraded Antero Midstream from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. UBS Group lowered their price objective on shares of Antero Midstream from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Monday, September 21st. Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a research report on Tuesday, July 14th. Finally, Weiss Ratings downgraded shares of Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 2nd. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Antero Midstream presently has an average rating of "Hold" and an average target price of $24.20.

Insider Buying and Selling

In related news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the transaction, the director owned 68,204 shares of the company's stock, valued at $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sheri Pearce sold 16,000 shares of the 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 owned 83,900 shares of the company's stock, valued at $1,846,639. The trade was a 16.02% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Antero Midstream Price Performance

Shares of NYSE:AM opened at $20.81 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The company has a market cap of $9.88 billion, a P/E ratio of 24.78 and a beta of 0.72. Antero Midstream Corporation has a 52 week low of $16.96 and a 52 week high of $23.83. The company has a 50-day moving average price of $21.45 and a 200 day moving average price of $21.47.

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 (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $327.24 million for the quarter, compared to analysts' expectations of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. Research analysts predict that Antero Midstream Corporation will post 1.23 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 11th. Stockholders of record on Wednesday, October 28th will be issued a $0.2250 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 28th. Antero Midstream's dividend payout ratio (DPR) 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. The company's services include gathering and compression, water handling and other infrastructure activities that help producers transport hydrocarbons from well sites to processing and takeaway facilities.

Antero Midstream primarily serves Antero Resources' operations in the Appalachian Basin, particularly in West Virginia and Ohio.

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