Jupiter Topco LLC Invests $4.38 Million in Antero Midstream Corporation $AM

Key Points

• Jupiter Topco purchased 192,249 Antero Midstream shares worth approximately $4.38 million during the second quarter. Institutional investors collectively own 53.97% of the company.
• Analyst sentiment remains cautious: one analyst rates the stock a Buy and five rate it Hold, with a consensus price target of $24.50. Wells Fargo raised its target to $24, while Goldman Sachs set the same target.
• Antero Midstream reported quarterly earnings of $0.27 per share and revenue of $327.24 million, while revenue increased 7.1% year over year. The company maintains a quarterly dividend of $0.225 per share, equivalent to a 4.0% annualized yield.

Jupiter Topco LLC purchased a new position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 192,249 shares of the pipeline company's stock, valued at approximately $4,376,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Clearstead Trust LLC acquired a new stake in Antero Midstream during the second quarter worth about $30,000. Larson Financial Group LLC lifted its holdings in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after acquiring an additional 708 shares during the period. Arax Advisory Partners boosted its position in shares of Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock worth $31,000 after acquiring an additional 791 shares in the last quarter. Ancora Advisors LLC bought a new position in Antero Midstream in the second quarter valued at approximately $38,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company's stock valued at $39,000 after acquiring an additional 2,199 shares during the last quarter. Institutional investors own 53.97% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on AM. Wells Fargo & Company upped their target price on Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Weiss Ratings cut Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $24.50.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were 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 of the company's stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction 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 transaction, the insider owned 83,900 shares in the company, valued at approximately $1,846,639. This trade represents a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company's stock.

Antero Midstream Price Performance

Antero Midstream stock opened at $22.44 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $10.65 billion, a PE ratio of 26.71 and a beta of 0.65. Antero Midstream Corporation has a 12 month low of $16.96 and a 12 month high of $23.83. The stock has a 50-day moving average price of $22.31 and a two-hundred day moving average price of $22.08.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share 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 for the quarter, compared to analysts' expectations of $326.43 million. During the same period in the previous year, the business posted $0.29 earnings per share. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Analysts expect that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream's payout ratio is presently 107.14%.

Antero Midstream Company 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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