Bank of America Corp DE cut its position in shares of Antero Midstream Co. (NYSE:AM - Free Report) by 50.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 344,797 shares of the pipeline company's stock after selling 345,688 shares during the period. Bank of America Corp DE owned about 0.07% of Antero Midstream worth $5,203,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. TD Waterhouse Canada Inc. increased its position in shares of Antero Midstream by 20.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock valued at $85,000 after purchasing an additional 963 shares during the period. Blue Trust Inc. increased its position in shares of Antero Midstream by 84.3% during the fourth quarter. Blue Trust Inc. now owns 5,712 shares of the pipeline company's stock valued at $86,000 after purchasing an additional 2,612 shares during the period. Allworth Financial LP grew its position in Antero Midstream by 17.8% in the fourth quarter. Allworth Financial LP now owns 6,305 shares of the pipeline company's stock valued at $104,000 after acquiring an additional 951 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Antero Midstream in the fourth quarter valued at $119,000. Finally, Harvest Fund Management Co. Ltd grew its position in Antero Midstream by 5,787.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 8,242 shares of the pipeline company's stock valued at $124,000 after acquiring an additional 8,102 shares during the period. 53.97% of the stock is currently owned by institutional investors.
Antero Midstream Price Performance
NYSE:AM traded up $0.00 during trading hours on Thursday, reaching $18.85. The company had a trading volume of 2,060,026 shares, compared to its average volume of 2,931,135. The stock has a 50-day moving average of $17.53 and a two-hundred day moving average of $16.49. Antero Midstream Co. has a one year low of $13.12 and a one year high of $19.06. The firm has a market capitalization of $9.03 billion, a PE ratio of 22.71 and a beta of 0.99. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.47.
Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.02. The company had revenue of $291.13 million for the quarter, compared to analyst estimates of $277.79 million. Antero Midstream had a return on equity of 18.82% and a net margin of 36.24%. The business's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Analysts forecast that Antero Midstream Co. will post 0.95 earnings per share for the current year.
Antero Midstream Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend was Wednesday, April 23rd. Antero Midstream's dividend payout ratio is currently 103.45%.
Wall Street Analyst Weigh In
AM has been the topic of a number of analyst reports. Wells Fargo & Company upped their price target on Antero Midstream from $16.00 to $17.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd.
Read Our Latest Analysis on Antero Midstream
Insiders Place Their Bets
In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the transaction, the director now owns 73,645 shares of the company's stock, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company's stock.
Antero Midstream Company Profile
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Free Report)
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.
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