Kayne Anderson Capital Advisors LP Invests $49.88 Million in Antero Midstream Corporation $AM

Key Points

• Kayne Anderson Capital Advisors acquired 2.19 million Antero Midstream shares worth approximately $49.88 million, representing about 0.46% of the company and 1% of Kayne Anderson’s portfolio.
• Institutional investors own 53.97% of Antero Midstream, with BlackRock, Invesco, State Street, Geode Capital and Bank of New York Mellon among major holders; two company insiders recently sold shares.
• Antero Midstream reported quarterly EPS of $0.27 and revenue of $327.24 million, while revenue rose 7.1% year over year. The company pays a quarterly dividend of $0.225 per share, equal to a 4.0% yield, and analysts maintain a consensus “Hold” rating.

Kayne Anderson Capital Advisors LP acquired a new position in Antero Midstream Corporation (NYSE:AM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,192,659 shares of the pipeline company's stock, valued at approximately $49,883,000. Antero Midstream comprises 1.0% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 22nd largest position. Kayne Anderson Capital Advisors LP owned about 0.46% of Antero Midstream at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AM. BlackRock Inc. bought a new stake in Antero Midstream in the 2nd quarter worth approximately $869,045,000. Invesco Ltd. lifted its holdings in shares of Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company's stock valued at $417,069,000 after buying an additional 776,791 shares during the period. State Street Corp lifted its holdings in shares of Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company's stock valued at $201,691,000 after buying an additional 187,912 shares during the period. Geode Capital Management LLC boosted its stake in shares of Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company's stock worth $186,328,000 after buying an additional 1,161,684 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Antero Midstream by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company's stock worth $208,148,000 after buying an additional 920,948 shares during the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the transaction, the insider directly owned 83,900 shares in the company, valued at $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on 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 sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company's stock.

Antero Midstream Stock Down 0.6%

AM stock opened at $22.28 on Friday. Antero Midstream Corporation has a twelve month low of $16.96 and a twelve month high of $23.83. 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 has a market cap of $10.58 billion, a P/E ratio of 26.52 and a beta of 0.65. The business's 50-day moving average price is $22.21 and its 200-day moving average price is $21.92.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. The company had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The firm's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. On average, equities research analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.0%. Antero Midstream's payout ratio is currently 107.14%.

Wall Street Analyst Weigh In

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

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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