NewEdge Advisors LLC Increases Holdings in Antero Midstream Corporation $AM

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 increased 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 SEC. The fund 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AM. Transce3nd LLC purchased a new stake in shares of Antero Midstream in the 1st quarter valued at about $29,000. UMB Bank n.a. lifted its holdings in shares of Antero Midstream by 170.8% in the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock valued at $62,000 after purchasing an additional 2,188 shares during the last quarter. Brooklyn Investment Group lifted its holdings 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Antero Midstream by 34.0% in the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock valued at $154,000 after purchasing an additional 2,165 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Antero Midstream in the 4th quarter valued at about $159,000. 53.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Antero Midstream Stock Performance

NYSE AM traded down $0.08 on Tuesday, hitting $18.30. 1,722,503 shares of the company's stock were exchanged, compared to its average volume of 2,228,047. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The firm's 50-day moving average price is $17.86 and its two-hundred day moving average price is $17.77. Antero Midstream Corporation has a fifty-two week low of $14.22 and a fifty-two week high of $19.08. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 19.26 and a beta of 0.92.

Antero Midstream (NYSE:AM - Get Free Report) last released its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company had revenue of $305.47 million for the quarter, compared to analysts' expectations of $292.70 million. During the same quarter in the previous year, the firm posted $0.23 EPS. The firm's quarterly revenue was up 13.2% on a year-over-year basis. On average, research analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders 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 yield of 4.9%. Antero Midstream's payout ratio is presently 94.74%.

Insider Transactions at Antero Midstream

In other Antero Midstream 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 transaction, the insider owned 106,489 shares in the company, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.