Dividend Assets Capital LLC Reduces Stock Position in Antero Midstream Co. (NYSE:AM)

Dividend Assets Capital LLC cut its holdings in shares of Antero Midstream Co. (NYSE:AM - Free Report) by 46.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,252 shares of the pipeline company's stock after selling 23,358 shares during the period. Dividend Assets Capital LLC's holdings in Antero Midstream were worth $491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Antero Midstream by 34.0% in the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after purchasing an additional 2,165 shares in the last quarter. Park Avenue Securities LLC bought a new stake in Antero Midstream in the 1st quarter worth about $187,000. UMB Bank n.a. grew its position in Antero Midstream by 170.8% in the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after purchasing an additional 2,188 shares in the last quarter. Wedmont Private Capital grew its position in Antero Midstream by 31.3% in the 1st quarter. Wedmont Private Capital now owns 30,727 shares of the pipeline company's stock worth $553,000 after purchasing an additional 7,329 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in Antero Midstream by 10.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 217,099 shares of the pipeline company's stock worth $3,908,000 after purchasing an additional 19,844 shares in the last quarter. 53.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on AM. Wells Fargo & Company upped their price objective on shares of Antero Midstream from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Finally, Morgan Stanley reiterated an "underweight" rating and issued a $17.00 target price (up from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total transaction of $94,400.00. Following the sale, the director now owns 73,645 shares in the company, valued at $1,390,417.60. This represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is owned by corporate insiders.

Antero Midstream Stock Performance

NYSE AM remained flat at $18.25 on Friday. The company's stock had a trading volume of 2,640,650 shares, compared to its average volume of 2,936,192. The stock's 50 day simple moving average is $17.76 and its two-hundred day simple moving average is $16.74. Antero Midstream Co. has a 1-year low of $13.12 and a 1-year high of $19.09. The company has a market cap of $8.75 billion, a price-to-earnings ratio of 21.99 and a beta of 1.03. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.17 and a quick ratio of 1.17.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The pipeline company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.02. Antero Midstream had a return on equity of 18.82% and a net margin of 36.24%. The business had revenue of $291.13 million during the quarter, compared to analyst estimates of $277.79 million. During the same period in the prior year, the company earned $0.21 earnings per share. Antero Midstream's revenue was up 4.3% compared to the same quarter last year. Analysts expect that Antero Midstream Co. will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend was Wednesday, April 23rd. Antero Midstream's dividend payout ratio (DPR) is 103.45%.

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.