Antero Midstream Corporation $AM Shares Sold by Hsbc Holdings PLC

Key Points

• HSBC Holdings reduced its Antero Midstream position by 61.3% in the second quarter, selling 99,511 shares and retaining 62,760 shares valued at approximately $1.44 million. Institutional investors and hedge funds own about 53.97% of the company.
• Analysts maintain a broadly neutral view, with one Buy rating and five Hold ratings. The consensus rating is Hold, with an average price target of $24.50.
• Antero Midstream reported second-quarter EPS of $0.27, in line with estimates, while revenue rose 7.1% year over year to $327.24 million. The company also paid a quarterly dividend of $0.225 per share, implying a 4.1% annualized yield.

Hsbc Holdings PLC lowered its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 61.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 62,760 shares of the pipeline company's stock after selling 99,511 shares during the quarter. Hsbc Holdings PLC's holdings in Antero Midstream were worth $1,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Root Financial Partners LLC raised its position in Antero Midstream by 36.4% during the 1st 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 last quarter. PNC Financial Services Group Inc. increased its stake in shares of Antero Midstream by 2.6% in the first quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company's stock worth $489,000 after acquiring an additional 537 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Antero Midstream by 23.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company's stock worth $59,000 after acquiring an additional 617 shares during the period. Larson Financial Group LLC raised its holdings in shares of Antero Midstream by 68.1% during 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. Finally, Keybank National Association OH raised its holdings in shares of Antero Midstream by 7.0% during the first quarter. Keybank National Association OH now owns 11,079 shares of the pipeline company's stock worth $253,000 after purchasing an additional 729 shares during the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on AM shares. Wells Fargo & Company increased their price target 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. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.50.

Antero Midstream Price Performance

NYSE:AM opened at $22.09 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a 52 week low of $16.96 and a 52 week high of $23.83. The stock's 50-day moving average price is $22.31 and its 200-day moving average price is $22.16. The stock has a market capitalization of $10.48 billion, a PE ratio of 26.29 and a beta of 0.65.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, hitting analysts' consensus estimates of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million during the quarter, compared to analysts' expectations of $326.43 million. During the same quarter in the prior year, the firm posted $0.29 EPS. Antero Midstream's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts expect that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. Antero Midstream's dividend payout ratio (DPR) is 107.14%.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the completion of the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of the company's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the transaction, the insider owned 83,900 shares of the company's stock, valued at $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company's stock.

About Antero Midstream

Antero Midstream Corp. NYSE: AM owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company provides gathering, compression, processing and water-handling services, primarily for Antero Resources and other producers.

Antero Midstream's gathering and compression assets collect production from wells and transport it to processing and downstream markets. Its water business provides fresh-water delivery and wastewater handling services, including the gathering, recycling and disposal of water used in hydraulic fracturing and other production activities.

The company's operations are concentrated in the Appalachian Basin, particularly in the Marcellus and Utica shale areas of West Virginia and Ohio.

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