Perbak Capital Partners LLP Takes $363,000 Position in Antero Midstream Corporation $AM

Key Points

• Perbak Capital Partners LLP has acquired a new position in Antero Midstream Corporation, buying 20,152 shares valued at approximately $363,000.
• Several institutional investors have also made significant investments in Antero Midstream, with Boston Trust Walden Corp purchasing a new stake worth $51 million.
• Antero Midstream recently reported an EPS of $0.26 for the last quarter, exceeding estimates, along with announcing a quarterly dividend of $0.225 per share, representing a yield of 5.1%.

Perbak Capital Partners LLP bought a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 20,152 shares of the pipeline company's stock, valued at approximately $363,000.

A number of other institutional investors have also modified their holdings of the stock. PDT Partners LLC raised its stake in shares of Antero Midstream by 43.9% in the 1st quarter. PDT Partners LLC now owns 570,672 shares of the pipeline company's stock valued at $10,272,000 after purchasing an additional 174,162 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Antero Midstream by 0.8% in the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company's stock valued at $3,256,000 after purchasing an additional 1,371 shares in the last quarter. Brasada Capital Management LP acquired a new stake in Antero Midstream during the first quarter worth about $540,000. Baird Financial Group Inc. raised its stake in Antero Midstream by 9.0% during the first quarter. Baird Financial Group Inc. now owns 18,117 shares of the pipeline company's stock worth $326,000 after acquiring an additional 1,500 shares during the period. Finally, Vident Advisory LLC raised its stake in Antero Midstream by 3.8% during the first quarter. Vident Advisory LLC now owns 197,339 shares of the pipeline company's stock worth $3,552,000 after acquiring an additional 7,209 shares during the period. Institutional investors and hedge funds own 53.97% of the company's stock.

Antero Midstream Stock Performance

NYSE AM traded up $0.14 on Friday, hitting $18.23. The stock had a trading volume of 2,699,417 shares, compared to its average volume of 2,206,379. Antero Midstream Corporation has a one year low of $14.06 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. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 19.19 and a beta of 0.92. The company's 50-day moving average is $17.84 and its two-hundred day moving average is $17.68.

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, topping the consensus estimate of $0.24 by $0.02. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Antero Midstream's quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were given a $0.225 dividend. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a yield of 4.9%. Antero Midstream's dividend payout ratio is 94.74%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider owned 106,489 shares in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.