AXQ Capital LP Has $789,000 Stake in Antero Midstream Corporation $AM

Key Points

• AXQ Capital sharply reduced its Antero Midstream stake by 82% in the second quarter, selling 158,231 shares and retaining 34,670 shares valued at approximately $789,000.
• Institutional ownership remains significant at 53.97%, with major new positions from BlackRock, Bank of New York Mellon, Norges Bank and other investors. Company insiders own 1.10% of shares and recently reported stock sales.
• Antero Midstream reported quarterly EPS of $0.27, in line with expectations, while revenue rose 7.1% year over year to $327.24 million. The company maintains a quarterly dividend of $0.225, equivalent to a 4.0% annual yield, while analysts have a consensus “Hold” rating and a $24.50 target price.

AXQ Capital LP reduced its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 82.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,670 shares of the pipeline company's stock after selling 158,231 shares during the period. AXQ Capital LP's holdings in Antero Midstream were worth $789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AM. BlackRock Inc. acquired a new position in shares of Antero Midstream during the 2nd quarter worth about $869,045,000. Bank of New York Mellon Corp acquired a new stake in shares of Antero Midstream in the 2nd quarter valued at approximately $157,371,000. Norges Bank acquired a new stake in shares of Antero Midstream in the 4th quarter valued at approximately $66,998,000. Kayne Anderson Capital Advisors LP acquired a new stake in Antero Midstream in the second quarter worth $49,883,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Antero Midstream in the 2nd quarter valued at $46,007,000. 53.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Brooks Klimley sold 5,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $1,450,699.08. This trade represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares in the company, valued at $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Antero Midstream Trading Up 0.0%

AM opened at $22.61 on Monday. The stock has a market capitalization of $10.73 billion, a P/E ratio of 26.92 and a beta of 0.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a 12 month low of $16.96 and a 12 month high of $23.83. The firm's fifty day simple moving average is $22.31 and its 200 day simple moving average is $22.12.

Antero Midstream (NYSE:AM - Get Free Report) last released its earnings results 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 firm had revenue of $327.24 million during the quarter, compared to analysts' expectations of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company's revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS. As a group, 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. Investors of record on Wednesday, July 29th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream's dividend payout ratio (DPR) is currently 107.14%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AM. Wells Fargo & Company boosted their target price on Antero Midstream from $23.00 to $24.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $24.50.

Antero Midstream Company 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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