AlphaQuest LLC Boosts Holdings in Antero Midstream Corporation $AM

Key Points

• AlphaQuest LLC increased its stake in Antero Midstream Corporation by 194.9% during Q2, owning 147,837 shares valued at approximately $2.8 million, making it the 29th largest holding in their portfolio.
• Antero Midstream announced a quarterly dividend of $0.225 per share, with a yield of 5.0%, payable on November 5th to shareholders of record on October 22nd.
• Analysts have varied opinions on Antero Midstream stock, with pricing targets adjusted to between $17.00 and $19.00, and an average rating of "Hold" reported by research firms.

AlphaQuest LLC raised its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 194.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 147,837 shares of the pipeline company's stock after purchasing an additional 97,714 shares during the quarter. Antero Midstream accounts for approximately 0.3% of AlphaQuest LLC's investment portfolio, making the stock its 29th biggest holding. AlphaQuest LLC's holdings in Antero Midstream were worth $2,802,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Transce3nd LLC acquired a new position in shares of Antero Midstream in the first quarter worth about $29,000. Brooklyn Investment Group raised its position in shares of Antero Midstream by 41.2% in the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock worth $82,000 after acquiring an additional 1,328 shares during the period. Bayforest Capital Ltd raised its position in shares of Antero Midstream by 277.3% in the second quarter. Bayforest Capital Ltd now owns 6,542 shares of the pipeline company's stock worth $124,000 after acquiring an additional 4,808 shares during the period. GAMMA Investing LLC raised its position in shares of Antero Midstream by 34.0% in the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after acquiring an additional 2,165 shares during the period. Finally, CWM LLC raised its position in shares of Antero Midstream by 7.1% in the first quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after acquiring an additional 629 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the firm's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the sale, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company's stock.

Antero Midstream Stock Performance

Antero Midstream stock opened at $17.97 on Friday. The firm has a 50 day simple moving average of $18.39 and a 200-day simple moving average of $18.04. Antero Midstream Corporation has a 1-year low of $14.22 and a 1-year high of $19.82. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 18.88 and a beta of 0.85.

Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm's quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $0.23 EPS. On average, analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. Antero Midstream's dividend payout ratio is 94.74%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Weiss Ratings reissued a "buy (a-)" rating on shares of Antero Midstream in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $18.50.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.

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