Gill Capital Partners LLC Trims Stake in Antero Midstream Corporation $AM

Key Points

• Gill Capital Partners LLC reduced its stake in Antero Midstream Corporation by 38.8%, holding 24,742 shares worth $469,000 at the end of the last reporting period.
• Insider Sheri Pearce sold 39,155 shares for approximately $685,604, representing a 26.88% decrease in her holdings, while insiders currently own 0.86% of the company's stock.
• Antero Midstream recently announced a quarterly dividend of $0.225 per share, with a yield of 5.0% and an ex-dividend date of October 22nd.

Gill Capital Partners LLC cut its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 38.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,742 shares of the pipeline company's stock after selling 15,701 shares during the period. Gill Capital Partners LLC's holdings in Antero Midstream were worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AM. Transce3nd LLC purchased a new stake in Antero Midstream during the 1st quarter valued at approximately $29,000. Brooklyn Investment Group lifted its stake in shares of Antero Midstream by 41.2% in the 1st quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock valued at $82,000 after purchasing an additional 1,328 shares in the last quarter. Bayforest Capital Ltd grew its holdings in shares of Antero Midstream by 277.3% during the 2nd quarter. Bayforest Capital Ltd now owns 6,542 shares of the pipeline company's stock worth $124,000 after purchasing an additional 4,808 shares during the period. GAMMA Investing LLC grew its stake in Antero Midstream by 34.0% during the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after buying an additional 2,165 shares during the period. Finally, CWM LLC raised its position 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 during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.86% of the stock is currently owned by insiders.

Antero Midstream Stock Down 0.4%

AM stock opened at $17.96 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. The firm's 50-day simple moving average is $18.40 and its 200 day simple moving average is $18.02. The stock has a market cap of $8.59 billion, a PE ratio of 18.99 and a beta of 0.85. Antero Midstream Corporation has a fifty-two week low of $14.22 and a fifty-two week high of $19.82.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The business had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. During the same period in the prior year, the company posted $0.23 EPS. The business's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, sell-side analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Wednesday, October 22nd. Antero Midstream's dividend payout ratio (DPR) is currently 94.74%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AM. Wells Fargo & Company raised their target price on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. The Goldman Sachs Group lifted their price target on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Zacks Research downgraded shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Weiss Ratings reissued a "buy (a-)" rating on shares of Antero Midstream in a research report on Wednesday, October 8th. Finally, Morgan Stanley increased their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus 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.

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