Freestone Grove Partners LP Purchases Shares of 698,696 Antero Midstream Corporation $AM

Freestone Grove Partners LP acquired a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 698,696 shares of the pipeline company's stock, valued at approximately $15,895,000. Freestone Grove Partners LP owned 0.15% of Antero Midstream at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of Antero Midstream in the second quarter worth about $30,000. Ancora Advisors LLC bought a new position in Antero Midstream during the 2nd quarter valued at approximately $38,000. Arax Advisory Partners lifted its holdings in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock worth $31,000 after buying an additional 791 shares during the period. Larson Financial Group LLC lifted its holdings in Antero Midstream by 68.1% in the 4th 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 period. Finally, Root Financial Partners LLC grew its position in shares of Antero Midstream by 36.4% in the 1st 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 last quarter. 53.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AM shares. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an "equal weight" rating in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $24.50.

Insiders Place Their Bets

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

Antero Midstream Stock Down 0.3%

AM stock opened at $22.52 on Friday. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 26.81 and a beta of 0.65. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The business's 50-day moving average is $22.29 and its two-hundred day moving average is $22.04. Antero Midstream Corporation has a fifty-two week low of $16.96 and a fifty-two week high of $23.83.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. As a group, analysts forecast that Antero Midstream Corporation will post 1.09 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream's dividend payout ratio is 107.14%.

Antero Midstream 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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