Evergreen Capital Management LLC Sells 23,919 Shares of Antero Midstream Corporation $AM

Key Points

• Evergreen Capital Management LLC reduced its stake in Antero Midstream Corporation by 6.6%, now holding 340,988 shares valued at approximately $6.14 million.
• Analysts have varied opinions on Antero Midstream, with target prices ranging from $15.50 to $19.00 and a consensus rating of "Hold" with a target price of $18.50.
• Antero Midstream's recent earnings report showed a profit increase to $0.26 EPS, exceeding estimates, along with a revenue rise of 13.2% year-over-year, amounting to $305.47 million.

Evergreen Capital Management LLC lowered its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,988 shares of the pipeline company's stock after selling 23,919 shares during the quarter. Evergreen Capital Management LLC owned 0.07% of Antero Midstream worth $6,138,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AM. CWM LLC increased its stake in Antero Midstream by 7.1% in the first quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock valued at $170,000 after purchasing an additional 629 shares in the last quarter. Private Advisor Group LLC increased its position in Antero Midstream by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock valued at $733,000 after buying an additional 640 shares in the last quarter. Commerce Bank increased its position in Antero Midstream by 5.0% in the 1st quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock valued at $301,000 after buying an additional 800 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Antero Midstream by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 194,907 shares of the pipeline company's stock valued at $3,507,000 after acquiring an additional 845 shares in the last quarter. Finally, QRG Capital Management Inc. increased its stake in Antero Midstream by 0.4% during the 1st quarter. QRG Capital Management Inc. now owns 253,566 shares of the pipeline company's stock valued at $4,564,000 after purchasing an additional 899 shares in the last quarter. Institutional investors own 53.97% of the company's stock.

Antero Midstream Stock Performance

NYSE:AM traded up $0.18 on Wednesday, reaching $17.86. 2,221,867 shares of the company's stock were exchanged, compared to its average volume of 3,068,595. 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 market cap of $8.54 billion, a price-to-earnings ratio of 18.79 and a beta of 0.92. Antero Midstream Corporation has a 52 week low of $14.06 and a 52 week high of $19.08. The stock has a fifty day simple moving average of $17.88 and a 200-day simple moving average of $17.65.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. Antero Midstream's revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. As a group, sell-side analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were paid a $0.225 dividend. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a yield of 5.0%. Antero Midstream's dividend payout ratio (DPR) is currently 94.74%.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 in the company, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. The Goldman Sachs Group upped their price objective on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Wells Fargo & Company upped their target price on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley upped their price objective 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 given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Antero Midstream presently has a consensus rating of "Hold" and an average target price of $18.50.

Antero Midstream Company 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.