Antero Midstream Corporation $AM Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its Antero Midstream holding by 65.1%, selling 590,000 shares and retaining 316,000 shares (~0.07% of the company) valued at $5.62M at quarter-end.
• Company insiders sold a total of 44,000 shares during the quarter — including Sheri Pearce (14,000 shares at $22.76) and Director Brooks J. Klimley (5,000 shares at $23.16) — leaving insiders with 0.86% ownership.
• Antero announced a quarterly dividend of $0.225 ($0.90 annualized, ~4.2% yield) with a payout ratio of 104.65%, while the most recent quarter missed EPS expectations ($0.11 vs. $0.24 consensus).

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 65.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,000 shares of the pipeline company's stock after selling 590,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.07% of Antero Midstream worth $5,622,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its position in Antero Midstream by 33.3% during the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company's stock worth $44,000 after acquiring an additional 565 shares during the period. Choreo LLC raised its position in Antero Midstream by 5.0% during the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company's stock worth $253,000 after acquiring an additional 679 shares during the period. GAMMA Investing LLC raised its position in Antero Midstream by 6.9% during the fourth quarter. GAMMA Investing LLC now owns 10,884 shares of the pipeline company's stock worth $194,000 after acquiring an additional 701 shares during the period. Farther Finance Advisors LLC raised its position in Antero Midstream by 0.5% during the fourth quarter. Farther Finance Advisors LLC now owns 162,281 shares of the pipeline company's stock worth $2,887,000 after acquiring an additional 732 shares during the period. Finally, State of Wyoming raised its position in Antero Midstream by 2.6% during the third quarter. State of Wyoming now owns 29,299 shares of the pipeline company's stock worth $570,000 after acquiring an additional 747 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Sheri Pearce sold 14,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the sale, the insider owned 99,900 shares of the company's stock, valued at $2,273,724. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the sale, the director directly owned 69,680 shares in the company, valued at approximately $1,613,788.80. The trade was a 6.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 44,000 shares of company stock valued at $1,004,690. 0.86% of the stock is currently owned by company insiders.

Antero Midstream Trading Up 0.2%

Shares of AM stock opened at $21.27 on Friday. The company has a 50-day moving average of $22.25 and a two-hundred day moving average of $19.53. 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 1-year low of $16.24 and a 1-year high of $23.83. The firm has a market cap of $10.06 billion, a PE ratio of 24.74 and a beta of 0.75.

Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The business had revenue of $297.00 million during the quarter, compared to analysts' expectations of $292.46 million. During the same period in the previous year, the business posted $0.23 EPS. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.2%. Antero Midstream's dividend payout ratio (DPR) is presently 104.65%.

Analyst Upgrades and Downgrades

AM has been the subject of a number of recent research reports. UBS Group increased their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, March 25th. Zacks Research lowered shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Weiss Ratings raised shares of Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, March 6th. The Goldman Sachs Group increased their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company increased their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Friday, March 13th. One research 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.50.

About Antero Midstream

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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