Antero Midstream Corporation $AM Shares Bought by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in Antero Midstream Corporation by 26.9% to own approximately $18.99 million of the company's stock.
• Insider Sheri Pearce sold 39,155 shares of Antero Midstream stock, representing a 26.88% decrease in her ownership.
• Analysts have varied views on Antero Midstream, with price targets ranging from $17.00 to $19.00, and the company currently holds a consensus rating of "Hold."

Exchange Traded Concepts LLC increased its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 26.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,001,983 shares of the pipeline company's stock after acquiring an additional 212,293 shares during the period. Exchange Traded Concepts LLC owned approximately 0.21% of Antero Midstream worth $18,988,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Transce3nd LLC acquired a new stake in Antero Midstream in the 1st quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in shares of 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 acquiring an additional 2,188 shares in the last quarter. Brooklyn Investment Group lifted its holdings 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 buying an additional 1,328 shares in the last quarter. GAMMA Investing LLC lifted 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 period. Finally, CWM LLC raised its stake in Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after buying an additional 629 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the 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 in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.86% of the stock is owned by company insiders.

Antero Midstream Stock Down 0.3%

Shares of NYSE AM traded down $0.05 during mid-day trading on Friday, reaching $18.57. 7,260,613 shares of the company's stock were exchanged, compared to its average volume of 2,163,338. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.08. The business has a fifty day simple moving average of $17.92 and a 200 day simple moving average of $17.81. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of 19.55 and a beta of 0.92.

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

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors 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 yield of 4.8%. Antero Midstream's dividend payout ratio is 94.74%.

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.