Antero Midstream Corporation $AM Stock Holdings Decreased by Empowered Funds LLC

Key Points

• Empowered Funds LLC cut its Antero Midstream stake by 80.8% in the first quarter, selling 104,723 shares and retaining 24,898 shares valued at approximately $568,000. Institutional investors and hedge funds collectively own 53.97% of the company.
• Antero Midstream reported quarterly EPS of $0.27, in line with estimates, while revenue rose 7.1% year over year to $327.24 million. The company declared a quarterly dividend of $0.225 per share, representing a 4.0% annualized yield.
• Analysts maintain a broadly neutral view, with one Buy rating and five Holds and a consensus price target of $24.50. The stock recently traded at $22.66, while two company insiders reported selling shares in August.

Empowered Funds LLC decreased its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 80.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,898 shares of the pipeline company's stock after selling 104,723 shares during the period. Empowered Funds LLC's holdings in Antero Midstream were worth $568,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its stake in Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock valued at $31,000 after buying an additional 708 shares in the last quarter. Arax Advisory Partners boosted its holdings in Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock worth $31,000 after purchasing an additional 791 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company's stock worth $39,000 after acquiring an additional 2,199 shares during the last quarter. Root Financial Partners LLC boosted its stake in Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock valued at $46,000 after acquiring an additional 537 shares during the period. Finally, Geneos Wealth Management Inc. boosted its stake in Antero Midstream by 401.4% in the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company's stock valued at $53,000 after acquiring an additional 2,224 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

AM opened at $22.66 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The business's 50 day moving average is $22.17 and its 200-day moving average is $21.87. The stock has a market cap of $10.76 billion, a PE ratio of 26.98 and a beta of 0.65. Antero Midstream Corporation has a twelve month low of $16.96 and a twelve month high of $23.83.

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

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream's dividend payout ratio (DPR) is 107.14%.

Analyst Upgrades and Downgrades

AM has been the topic of a number of research reports. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Weiss Ratings lowered Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $24.50.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 16,000 shares of the stock in a transaction dated 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 transaction, the insider owned 83,900 shares in the company, valued at $1,846,639. This represents a 16.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the transaction, the director directly owned 68,204 shares in the company, valued at approximately $1,450,699.08. The trade was a 6.83% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding AM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Midstream Corporation (NYSE:AM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source