Hsbc Holdings PLC acquired a new stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 62,760 shares of the pipeline company's stock, valued at approximately $1,440,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new position in shares of Antero Midstream in the 2nd quarter valued at approximately $38,000. Castleark Management LLC acquired a new stake in shares of Antero Midstream during the second quarter worth approximately $994,000. SIR Capital Management L.P. acquired a new stake in shares of Antero Midstream during the second quarter worth approximately $10,638,000. Legal & General Group Plc bought a new stake in shares of Antero Midstream in the second quarter worth $11,005,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Antero Midstream in the second quarter worth $4,872,000. 53.97% of the stock is currently owned by hedge funds and other institutional investors.
Antero Midstream Trading Up 0.7%
Shares of NYSE AM opened at $22.44 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The stock's 50 day moving average price is $22.31 and its two-hundred day moving average price is $22.08. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The stock has a market capitalization of $10.65 billion, a P/E ratio of 26.71 and a beta of 0.65.
Antero Midstream (NYSE:AM - Get Free Report) last issued its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. During the same quarter last year, the firm earned $0.29 EPS. The business's revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that Antero Midstream Corporation will post 1.09 earnings per share for the current fiscal year.
Antero Midstream Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were paid a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.0%. Antero Midstream's dividend payout ratio (DPR) is 107.14%.
Insiders Place Their Bets
In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider directly owned 83,900 shares of the company's stock, valued at approximately $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $106,350.00. Following the completion of the transaction, the director owned 68,204 shares in the company, valued at approximately $1,450,699.08. The trade was a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have commented on the stock. 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. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Wells Fargo & Company boosted their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Antero Midstream presently has an average rating of "Hold" and a consensus price target of $24.50.
Read Our Latest Report on Antero Midstream
Antero Midstream Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding AM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Antero Midstream Corporation (NYSE:AM - Free Report).
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