Antero Midstream Corporation $AM Shares Purchased by Eagle Global Advisors LLC

Key Points

• Eagle Global Advisors LLC boosted its stake in Antero Midstream by 145.7% in the fourth quarter, now owning 453,513 shares worth about $8.07 million (≈0.10% of the company).
• Antero Midstream declared a quarterly dividend of $0.225 per share (annualized $0.90) with a yield of 4.4%; the ex-dividend date is April 29 and the payout ratio is 104.65%.
• Insiders sold a total of 44,000 shares worth approximately $1,004,690 in the past three months, including Sheri Pearce (14,000 shares) and director Brooks J. Klimley (5,000 shares).

Eagle Global Advisors LLC increased its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 145.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 453,513 shares of the pipeline company's stock after acquiring an additional 268,923 shares during the period. Eagle Global Advisors LLC owned approximately 0.10% of Antero Midstream worth $8,068,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AM. Bank of New York Mellon Corp grew its holdings in Antero Midstream by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company's stock worth $152,574,000 after acquiring an additional 1,430,138 shares during the period. Goldman Sachs Group Inc. grew its holdings in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the period. SIR Capital Management L.P. grew its holdings in Antero Midstream by 1,086.9% during the third quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company's stock worth $26,892,000 after acquiring an additional 1,266,794 shares during the period. Qube Research & Technologies Ltd purchased a new position in Antero Midstream in the 2nd quarter worth about $20,044,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Antero Midstream in the 2nd quarter worth about $18,811,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Sheri Pearce sold 14,000 shares of Antero Midstream stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the sale, the insider directly owned 99,900 shares in the company, valued at $2,273,724. The trade was a 12.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the sale, the director owned 69,680 shares of the company's stock, valued at approximately $1,613,788.80. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 44,000 shares of company stock worth $1,004,690 in the last three months. 0.86% of the stock is owned by insiders.

Antero Midstream Stock Down 1.1%

Shares of Antero Midstream stock opened at $20.65 on Wednesday. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 24.01 and a beta of 0.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. Antero Midstream Corporation has a 52-week low of $16.24 and a 52-week high of $23.83. The stock has a 50-day simple moving average of $22.29 and a 200-day simple moving average of $19.56.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $297.00 million for the quarter, compared to analyst estimates of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, equities research analysts expect that Antero Midstream Corporation will post 1.14 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Wednesday, April 29th. Antero Midstream's payout ratio is currently 104.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group lifted their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 25th. The Goldman Sachs Group lifted their price target on Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Weiss Ratings raised Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, March 6th. Wells Fargo & Company lifted their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Friday, March 13th. Finally, Zacks Research cut Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.50.

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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