Empowered Funds LLC Sells 104,723 Shares of Antero Midstream Corporation $AM

Key Points

• Empowered Funds LLC cut its Antero Midstream stake by 80.8% in the first quarter, selling 104,723 shares and retaining 24,898 shares valued at approximately $568,000. Institutional investors collectively own 53.97% of the company.
• Recent insider activity was also negative, with Director Brooks Klimley selling 5,000 shares and insider Sheri Pearce selling 16,000 shares. Company insiders own 1.10% of Antero Midstream.
• Analysts maintain a generally cautious view, with one Buy and five Hold ratings, an average target price of $24.50, and the stock trading near $21.97. Antero Midstream declared a quarterly dividend of $0.225 per share, representing a 4.1% annualized yield.

Empowered Funds LLC cut its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 80.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,898 shares of the pipeline company's stock after selling 104,723 shares during the period. Empowered Funds LLC's holdings in Antero Midstream were worth $568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Arax Advisory Partners increased its position in shares of Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock valued at $31,000 after purchasing an additional 791 shares during the last quarter. Larson Financial Group LLC lifted its position in Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after buying an additional 708 shares during the last quarter. Root Financial Partners LLC boosted its stake in Antero Midstream by 36.4% during the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock worth $46,000 after buying an additional 537 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Antero Midstream by 219,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company's stock valued at $39,000 after acquiring an additional 2,199 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company's stock valued at $53,000 after acquiring an additional 2,224 shares during the last quarter. 53.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the sale, the director directly owned 68,204 shares in the company, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the transaction, the insider directly owned 83,900 shares in the company, valued at $1,846,639. The trade was a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

AM has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Morgan Stanley raised shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price objective for the company in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $24.50.

Antero Midstream Trading Up 3.3%

Shares of AM opened at $21.97 on Tuesday. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 26.15 and a beta of 0.65. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. Antero Midstream Corporation has a 1-year low of $16.96 and a 1-year high of $23.83. The company has a 50-day moving average of $22.06 and a 200 day moving average of $21.72.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.1%. Antero Midstream's dividend payout ratio is 107.14%.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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