Eagle Global Advisors LLC Buys 124,000 Shares of Antero Midstream Corporation (NYSE:AM)

Key Points

• Eagle Global Advisors LLC has increased its stake in Antero Midstream Corporation by 106.2% in Q1, owning approximately 240,740 shares valued at $4.33 million.
• Antero Midstream reported earnings of $0.26 per share for the last quarter, exceeding analyst estimates, with a revenue of $305.47 million, reflecting a 13.2% year-over-year increase.
• The company declared a quarterly dividend of $0.225 per share, resulting in an annualized dividend of $0.90 and a yield of 4.9% with a payout ratio of 94.74%.

Eagle Global Advisors LLC increased its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 106.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,740 shares of the pipeline company's stock after purchasing an additional 124,000 shares during the period. Eagle Global Advisors LLC owned approximately 0.05% of Antero Midstream worth $4,333,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Hancock Whitney Corp grew its stake in Antero Midstream by 1.5% in the 4th quarter. Hancock Whitney Corp now owns 43,085 shares of the pipeline company's stock worth $650,000 after acquiring an additional 624 shares during the period. CWM LLC grew its stake in Antero Midstream by 7.1% in the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after acquiring an additional 629 shares during the period. Private Advisor Group LLC grew its stake in Antero Midstream by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock worth $733,000 after acquiring an additional 640 shares during the period. Commerce Bank grew its stake in Antero Midstream by 5.0% in the 1st quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock worth $301,000 after acquiring an additional 800 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Antero Midstream by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 194,907 shares of the pipeline company's stock worth $3,507,000 after acquiring an additional 845 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the transaction, the director owned 73,645 shares in the company, valued at $1,390,417.60. This represents a 6.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by insiders.

Antero Midstream Stock Performance

Shares of NYSE:AM traded down $0.07 during trading on Wednesday, reaching $18.19. 1,808,283 shares of the company's stock traded hands, compared to its average volume of 3,004,210. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. Antero Midstream Corporation has a 12 month low of $13.99 and a 12 month high of $19.08. The company has a 50 day moving average of $18.04 and a 200-day moving average of $17.48. The stock has a market capitalization of $8.70 billion, a P/E ratio of 19.15 and a beta of 0.97.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating 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 business had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The company's revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were given 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 4.9%. Antero Midstream's dividend payout ratio is presently 94.74%.

Analyst Upgrades and Downgrades

Several research firms have commented on AM. Wells Fargo & Company lifted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Morgan Stanley lifted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd.

Antero Midstream Company 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.