Abacus FCF Advisors LLC Takes Position in Antero Midstream Corporation $AM

Key Points

• Abacus FCF Advisors acquired 474,204 shares of Antero Midstream worth approximately $10.8 million, making the stock 2% of its portfolio. Institutional investors collectively own 53.97% of the company.
• Analysts maintain a generally cautious outlook, with one Buy rating and five Holds. Antero Midstream has a consensus rating of Hold and an average price target of $24.50.
• Antero Midstream matched quarterly earnings expectations at $0.27 per share and reported $327.24 million in revenue, up 7.1% year over year. The company paid a quarterly dividend of $0.225 per share, representing a 4.0% annualized yield.

Abacus FCF Advisors LLC bought a new position in Antero Midstream Corporation (NYSE:AM - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 474,204 shares of the pipeline company's stock, valued at approximately $10,788,000. Antero Midstream accounts for approximately 2.0% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 20th biggest holding. Abacus FCF Advisors LLC owned 0.10% of Antero Midstream as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new position in Antero Midstream in the 2nd quarter worth approximately $30,000. Larson Financial Group LLC grew its holdings in shares of Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after purchasing an additional 708 shares during the last quarter. Arax Advisory Partners grew its holdings in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock worth $31,000 after purchasing an additional 791 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company's stock worth $39,000 after buying an additional 2,199 shares during the period. Finally, Root Financial Partners LLC increased its stake in shares of Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock worth $46,000 after buying an additional 537 shares during the period. 53.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AM has been the topic of several recent analyst reports. Weiss Ratings cut Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price objective for the company in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $24.50.

Insider Activity

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction dated Thursday, August 6th. The shares were 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 approximately $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $352,160.00. Following the transaction, the insider directly owned 83,900 shares of the company's stock, valued at $1,846,639. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company's stock.

Antero Midstream Trading Down 1.2%

Shares of AM opened at $22.43 on Thursday. Antero Midstream Corporation has a 1-year low of $16.96 and a 1-year high of $23.83. 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 firm's 50-day moving average price is $22.19 and its 200-day moving average price is $21.90. The firm has a market capitalization of $10.64 billion, a price-to-earnings ratio of 26.70 and a beta of 0.65.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. Antero Midstream's quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Sell-side analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Dividend Announcement

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

Antero Midstream 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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