Antero Midstream Corporation $AM Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 60.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,235 shares of the pipeline company's stock after selling 71,349 shares during the period. NewEdge Advisors LLC's holdings in Antero Midstream were worth $1,054,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company's stock worth $417,069,000 after purchasing an additional 776,791 shares during the period. State Street Corp increased its stake in Antero Midstream by 1.7% in the fourth quarter. State Street Corp now owns 11,337,298 shares of the pipeline company's stock valued at $201,691,000 after purchasing an additional 187,912 shares during the period. Geode Capital Management LLC raised its holdings in shares of Antero Midstream by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company's stock valued at $186,328,000 after buying an additional 1,161,684 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Antero Midstream by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company's stock worth $208,148,000 after buying an additional 920,948 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 buying an additional 1,400,368 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

Wall Street Analyst Weigh In

AM has been the topic of several recent research reports. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research report on Tuesday, July 14th. Wells Fargo & Company increased their price objective 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. Weiss Ratings downgraded Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. Finally, Morgan Stanley raised Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price on the stock in a report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $24.50.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the sale, the director owned 68,204 shares in the company, valued at $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the sale, the insider directly owned 83,900 shares of the company's stock, valued at approximately $1,846,639. This represents a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

Antero Midstream Stock Down 1.6%

Shares of NYSE AM opened at $22.18 on Tuesday. The firm has a 50-day moving average price of $22.14 and a 200 day moving average price of $21.84. Antero Midstream Corporation has a 52 week low of $16.96 and a 52 week high of $23.83. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 26.40 and a beta of 0.65.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. The business had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. Equities research analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream's payout ratio is presently 107.14%.

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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