Brasada Capital Management LP Makes New Investment in Antero Midstream Corporation $AM

Key Points

• Brasada Capital Management LP has made a new investment in Antero Midstream Corporation, acquiring 30,000 shares valued at approximately $540,000.
• Antero Midstream reported better-than-expected quarterly earnings of $0.26 per share, exceeding analysts' estimates of $0.24, with revenues of $305.47 million, up 13.2% year-over-year.
• Institutional investors currently own 53.97% of Antero Midstream's stock, indicating strong interest from large investment firms.

Brasada Capital Management LP purchased a new position in Antero Midstream Corporation (NYSE:AM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,000 shares of the pipeline company's stock, valued at approximately $540,000.

A number of other large investors also recently modified their holdings of AM. Boston Trust Walden Corp bought a new position in shares of Antero Midstream in the 1st quarter worth about $51,269,000. SIR Capital Management L.P. bought a new position in shares of Antero Midstream in the 4th quarter worth about $35,058,000. Tortoise Capital Advisors L.L.C. lifted its position in shares of Antero Midstream by 31.7% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company's stock worth $167,614,000 after buying an additional 2,242,283 shares during the last quarter. Nuveen LLC bought a new position in shares of Antero Midstream in the 1st quarter worth about $25,226,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Antero Midstream by 7,769.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,028,014 shares of the pipeline company's stock worth $15,513,000 after buying an additional 1,014,951 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Price Performance

Shares of Antero Midstream stock opened at $17.77 on Friday. Antero Midstream Corporation has a fifty-two week low of $14.06 and a fifty-two week high of $19.08. The company has a market cap of $8.50 billion, a PE ratio of 18.70 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average price of $17.91 and a two-hundred day moving average price of $17.62.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The business's revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. Analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.1%. Antero Midstream's dividend payout ratio (DPR) is 94.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company boosted their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. The Goldman Sachs Group increased their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Zacks Research upgraded shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.50.

Insider Activity

In related news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the sale, the insider owned 106,489 shares in the company, valued at $1,864,622.39. This trade represents a 26.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.86% of the stock is owned by company insiders.

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.

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