RR Advisors LLC Has $40.42 Million Stake in Antero Midstream Corporation $AM

Key Points

• RR Advisors LLC has reduced its stake in Antero Midstream Corporation by 10.6%, now holding 2,246,000 shares, making it the firm's 3rd largest position.
• In recent analyst updates, Morgan Stanley and Wells Fargo & Company raised their price targets for Antero Midstream to $19.00, while Wall Street Zen upgraded the stock to a "buy" rating.
• Antero Midstream has announced a quarterly dividend of $0.225 per share, providing an annual yield of 4.9% with a payout ratio of 94.74%.

RR Advisors LLC trimmed its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 10.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,246,000 shares of the pipeline company's stock after selling 266,000 shares during the period. Antero Midstream comprises approximately 9.7% of RR Advisors LLC's holdings, making the stock its 3rd biggest holding. RR Advisors LLC owned 0.47% of Antero Midstream worth $40,424,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Nations Financial Group Inc. IA ADV increased its stake in shares of Antero Midstream by 26.0% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 101,974 shares of the pipeline company's stock worth $1,836,000 after purchasing an additional 21,070 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Antero Midstream by 4.8% during the 1st quarter. American Century Companies Inc. now owns 2,185,426 shares of the pipeline company's stock worth $39,338,000 after purchasing an additional 99,729 shares in the last quarter. Ethic Inc. increased its stake in shares of Antero Midstream by 13.2% during the 1st quarter. Ethic Inc. now owns 141,153 shares of the pipeline company's stock worth $2,579,000 after purchasing an additional 16,499 shares in the last quarter. Brandywine Global Investment Management LLC increased its stake in shares of Antero Midstream by 15.8% during the 1st quarter. Brandywine Global Investment Management LLC now owns 801,621 shares of the pipeline company's stock worth $14,429,000 after purchasing an additional 109,248 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Antero Midstream by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company's stock worth $164,653,000 after acquiring an additional 34,596 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Antero Midstream Stock Down 0.8%

Shares of NYSE:AM traded down $0.1350 during midday trading on Tuesday, hitting $17.4150. 2,435,691 shares of the company's stock traded hands, compared to its average volume of 3,131,543. Antero Midstream Corporation has a twelve month low of $14.06 and a twelve month high of $19.08. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $8.33 billion, a PE ratio of 18.33 and a beta of 0.97. The firm's fifty day moving average price is $18.00 and its two-hundred day moving average price is $17.54.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm had revenue of $305.47 million for the quarter, compared to analyst estimates of $292.70 million. During the same quarter in the previous year, the business posted $0.23 EPS. The firm's revenue was up 13.2% compared to the same quarter last year. On average, equities research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were issued a $0.225 dividend. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a yield of 5.2%. Antero Midstream's payout ratio is currently 94.74%.

Insider Buying and Selling

In other news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the sale, the director owned 73,645 shares of the company's stock, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on AM shares. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday. Morgan Stanley boosted their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Antero Midstream currently has an average rating of "Reduce" and an average target price of $18.50.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.