PDT Partners LLC Grows Stock Holdings in Antero Midstream Corporation $AM

Key Points

• PDT Partners LLC increased its stake in Antero Midstream Corporation by 43.9%, owning approximately 570,672 shares worth about $10.27 million as of the latest SEC filing.
• Antero Midstream reported earnings of $0.26 per share in its latest quarterly results, surpassing analysts' expectations, with a revenue of $305.47 million.
• The company recently announced a quarterly dividend of $0.225 per share, which represents an annualized yield of 5.1%.

PDT Partners LLC grew its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 43.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 570,672 shares of the pipeline company's stock after purchasing an additional 174,162 shares during the period. Antero Midstream makes up 0.7% of PDT Partners LLC's portfolio, making the stock its 3rd biggest position. PDT Partners LLC owned about 0.12% of Antero Midstream worth $10,272,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Antero Midstream in the first quarter valued at $529,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Antero Midstream by 6.5% in the first quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company's stock valued at $289,000 after purchasing an additional 975 shares in the last quarter. Silver Oak Securities Incorporated purchased a new stake in shares of Antero Midstream in the first quarter valued at $459,000. KBC Group NV lifted its holdings in shares of Antero Midstream by 18.5% in the first quarter. KBC Group NV now owns 17,628 shares of the pipeline company's stock valued at $317,000 after purchasing an additional 2,757 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Antero Midstream in the first quarter valued at $495,000. Hedge funds and other institutional investors own 53.97% of the company's stock.

Analysts Set New Price Targets

AM has been the subject of a number of research analyst reports. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Zacks Research raised Antero Midstream from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Wells Fargo & Company lifted their price objective on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. The Goldman Sachs Group boosted their price target on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Morgan Stanley raised their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $18.50.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of Antero Midstream stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the sale, the insider owned 106,489 shares of the company's stock, 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 the SEC website. Corporate insiders own 0.86% of the company's stock.

Antero Midstream Stock Performance

Shares of Antero Midstream stock traded up $0.24 during trading on Thursday, reaching $18.10. The company's stock had a trading volume of 2,786,774 shares, compared to its average volume of 3,071,796. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The business's fifty day moving average price is $17.87 and its 200-day moving average price is $17.65. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 19.05 and a beta of 0.92. Antero Midstream Corporation has a one year low of $14.06 and a one year high of $19.08.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The business's revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. As a group, equities research analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a yield of 5.0%. Antero Midstream's dividend payout ratio is 94.74%.

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.