Oppenheimer & Co. Inc. Sells 354,743 Shares of Antero Midstream Corporation $AM

Key Points

• Oppenheimer & Co. cut its stake in Antero Midstream (AM) by 70.3%, selling 354,743 shares and leaving 150,012 shares valued at about $2.67 million at quarter-end.
• Company insiders sold a total of 213,269 shares in the last quarter worth roughly $4.71 million, including Michael N. Kennedy's sale of 100,000 shares for about $2.19 million and Sheri Pearce's sale of 14,000 shares.
• Antero reported Q1 EPS of $0.25 (missing consensus by $0.01) with revenue up 7.9% year-over-year, declared a $0.225 quarterly dividend (4.1% yield) despite a 104.65% payout ratio, and carries a Wall Street consensus rating of Hold with a $24 target.

Oppenheimer & Co. Inc. lessened its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 70.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,012 shares of the pipeline company's stock after selling 354,743 shares during the period. Oppenheimer & Co. Inc.'s holdings in Antero Midstream were worth $2,669,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AM. Richardson Financial Services Inc. increased its holdings in Antero Midstream by 330.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company's stock worth $25,000 after purchasing an additional 994 shares in the last quarter. Root Financial Partners LLC bought a new position in Antero Midstream during the 3rd quarter worth about $25,000. Elevation Wealth Partners LLC bought a new position in Antero Midstream during the 4th quarter worth about $27,000. Quent Capital LLC bought a new position in Antero Midstream during the 3rd quarter worth about $28,000. Finally, Global Retirement Partners LLC increased its holdings in Antero Midstream by 33.3% during the 3rd quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company's stock worth $44,000 after purchasing an additional 565 shares in the last quarter. Institutional investors own 53.97% of the company's stock.

Insider Activity

In related news, insider Sheri Pearce sold 14,000 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the completion of the sale, the insider directly owned 99,900 shares in the company, valued at approximately $2,273,724. This trade represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares of the company's stock, valued at $32,893,020.48. This trade represents a 6.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 213,269 shares of company stock valued at $4,713,681. Company insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

AM has been the subject of a number of research reports. Zacks Research cut Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price for the company in a report on Wednesday, April 22nd. The Goldman Sachs Group raised their price objective on Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, February 24th. Wells Fargo & Company raised their price objective on Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Friday, March 13th. Finally, Weiss Ratings upgraded Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.00.

Antero Midstream Price Performance

Shares of NYSE AM opened at $21.99 on Tuesday. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of 25.57 and a beta of 0.68. The business has a 50-day moving average of $22.36 and a 200-day moving average of $19.70. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. Antero Midstream Corporation has a fifty-two week low of $16.77 and a fifty-two week high of $23.83.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. Antero Midstream's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. As a group, sell-side analysts predict that Antero Midstream Corporation will post 1.13 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Antero Midstream's dividend payout ratio (DPR) is 104.65%.

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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