Antero Midstream Corporation $AM Shares Purchased by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC increased its holdings in Antero Midstream by 15%, acquiring an additional 21,229 shares, bringing its total to 162,416 shares valued at approximately $2.9 million.
• Analysts have upgraded their ratings for Antero Midstream, with Zacks Research moving from a "hold" to a "strong buy," while Wells Fargo raised its price target from $17.00 to $19.00.
• Antero Midstream reported earnings of $0.26 per share for the last quarter, exceeding estimates and showing a 13.2% increase in revenue year-over-year, amounting to $305.47 million.

NewEdge Advisors LLC boosted its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 15.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,416 shares of the pipeline company's stock after purchasing an additional 21,229 shares during the period. NewEdge Advisors LLC's holdings in Antero Midstream were worth $2,923,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AM. Boston Trust Walden Corp purchased a new position in Antero Midstream in the 1st quarter valued at approximately $51,269,000. SIR Capital Management L.P. purchased a new position in Antero Midstream in the 4th quarter valued at approximately $35,058,000. Tortoise Capital Advisors L.L.C. increased its stake in Antero Midstream by 31.7% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company's stock valued at $167,614,000 after purchasing an additional 2,242,283 shares in the last quarter. Nuveen LLC purchased a new position in Antero Midstream in the 1st quarter valued at approximately $25,226,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Antero Midstream by 17.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company's stock valued at $83,922,000 after purchasing an additional 697,234 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AM has been the subject of several recent research reports. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. The Goldman Sachs Group lifted their target price on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a report on Monday, August 18th. Wells Fargo & Company boosted their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley boosted their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $18.50.

Antero Midstream Stock Performance

Shares of NYSE:AM traded up $0.14 during trading on Friday, hitting $18.63. 2,120,027 shares of the company traded hands, compared to its average volume of 2,334,375. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 19.61 and a beta of 0.92. The business's fifty day moving average is $17.83 and its 200-day moving average is $17.74. Antero Midstream Corporation has a one year low of $14.22 and a one year high of $19.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45.

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

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.8%. Antero Midstream's payout ratio is currently 94.74%.

Insider Activity

In other news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.86% of the company's stock.

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.