Eagle Global Advisors LLC Sells 16,826 Shares of Antero Midstream Corporation $AM

Key Points

• Eagle Global Advisors LLC sold 16,826 shares of Antero Midstream Corporation, reducing its stake by 7% and leaving it with 223,914 shares valued at approximately $4.24 million.
• Several hedge funds have increased their holdings in Antero Midstream, with Invesco Ltd. raising its position by 2% and Tortoise Capital Advisors boosting theirs by 31.7%.
• Antero Midstream recently reported earnings of $0.26 per share, exceeding estimates, and announced a quarterly dividend of $0.225 per share, representing an annual yield of 4.6%.

Eagle Global Advisors LLC reduced its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 7.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 223,914 shares of the pipeline company's stock after selling 16,826 shares during the period. Eagle Global Advisors LLC's holdings in Antero Midstream were worth $4,243,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. raised its holdings in shares of Antero Midstream by 2.0% during the first quarter. Invesco Ltd. now owns 30,631,765 shares of the pipeline company's stock worth $551,372,000 after purchasing an additional 586,966 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in Antero Midstream by 31.7% during the first 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Antero Midstream by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company's stock valued at $164,653,000 after buying an additional 34,596 shares during the period. Bank of New York Mellon Corp increased its holdings in Antero Midstream by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 5,991,546 shares of the pipeline company's stock valued at $107,848,000 after buying an additional 295,432 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Antero Midstream by 17.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company's stock worth $83,922,000 after acquiring an additional 697,234 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of Antero Midstream stock in a transaction on 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 sale, the insider owned 106,489 shares of the company's stock, valued at $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on AM shares. Wells Fargo & Company increased their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Zacks Research cut Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. The Goldman Sachs Group lifted their price objective on shares of Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a report on Monday, August 18th. Morgan Stanley upped their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Antero Midstream presently has an average rating of "Reduce" and an average target price of $18.50.

Antero Midstream Price Performance

Shares of NYSE AM opened at $19.60 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. The company's 50-day moving average price is $18.08 and its 200 day moving average price is $17.89. Antero Midstream Corporation has a 52 week low of $14.22 and a 52 week high of $19.82. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 20.63 and a beta of 0.92.

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

Antero Midstream Announces Dividend

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 yield of 4.6%. Antero Midstream's dividend payout ratio (DPR) is 94.74%.

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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