Brave Warrior Advisors LLC Sells 14,312 Shares of Antero Midstream Corporation $AM

Key Points

• Brave Warrior Advisors LLC reduced its stake in Antero Midstream Corporation by 0.7%, ending the first quarter with a position valued at approximately $34.53 million.
• The company's quarterly earnings reported a 13.2% year-over-year revenue increase, with earnings per share of $0.26, exceeding analyst expectations.
• Antero Midstream recently declared a quarterly dividend of $0.225 per share, yielding 5.1%, with a high dividend payout ratio of 94.74%.

Brave Warrior Advisors LLC lessened its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,918,528 shares of the pipeline company's stock after selling 14,312 shares during the period. Antero Midstream accounts for about 0.8% of Brave Warrior Advisors LLC's portfolio, making the stock its 18th biggest position. Brave Warrior Advisors LLC owned about 0.40% of Antero Midstream worth $34,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in AM. Transce3nd LLC bought a new position in Antero Midstream during the 1st quarter worth $29,000. UMB Bank n.a. increased its stake in Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after acquiring an additional 2,188 shares during the period. Brooklyn Investment Group increased its stake in Antero Midstream by 41.2% during the 1st quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock worth $82,000 after acquiring an additional 1,328 shares during the period. GAMMA Investing LLC increased its stake in shares of Antero Midstream by 34.0% in the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock valued at $154,000 after purchasing an additional 2,165 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of Antero Midstream in the 4th quarter valued at $159,000. Institutional investors own 53.97% of the company's stock.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of Antero Midstream stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.86% of the company's stock.

Antero Midstream Trading Up 0.8%

AM traded up $0.14 during midday trading on Friday, hitting $18.23. 2,699,417 shares of the company were exchanged, compared to its average volume of 2,152,441. The firm has a market capitalization of $8.72 billion, a P/E ratio of 19.19 and a beta of 0.92. Antero Midstream Corporation has a 1-year low of $14.06 and a 1-year high of $19.08. The firm's 50 day moving average price is $17.84 and its 200-day moving average price is $17.67. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45.

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

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. Antero Midstream's dividend payout ratio (DPR) is 94.74%.

Analyst Upgrades and Downgrades

AM has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. The Goldman Sachs Group lifted their price target on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a research note on Monday, August 18th. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Finally, Morgan Stanley lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.50.

About Antero Midstream

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.