Phocas Financial Corp. Has $4.72 Million Stake in Antero Midstream Corporation (NYSE:AM)

Key Points

• Phocas Financial Corp. reduced its stake in Antero Midstream Corporation by 5.4%, selling 14,994 shares, and now holds approximately 0.05% of the company valued at $4.7 million.
• Multiple institutional investors have recently increased their positions, including Balyasny Asset Management, which raised its stake by 7,769.7%, now owning over 1 million shares.
• Antero Midstream has declared a quarterly dividend of $0.225 per share, with a yield of 4.9%, scheduled for payment on August 6th, 2023.

Phocas Financial Corp. lowered its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 261,935 shares of the pipeline company's stock after selling 14,994 shares during the period. Phocas Financial Corp. owned 0.05% of Antero Midstream worth $4,715,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in Antero Midstream during the first quarter worth approximately $29,000. UMB Bank n.a. grew its holdings in Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after acquiring an additional 2,188 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in shares of Antero Midstream by 20.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock worth $85,000 after acquiring an additional 963 shares during the last quarter. GAMMA Investing LLC boosted its position in Antero Midstream by 34.0% during the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock valued at $154,000 after acquiring an additional 2,165 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in Antero Midstream in the fourth quarter valued at $159,000. Institutional investors own 53.97% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley upped their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st.

Antero Midstream Stock Down 0.7%

Shares of NYSE AM traded down $0.14 during midday trading on Thursday, reaching $18.55. 397,267 shares of the company's stock traded hands, compared to its average volume of 3,165,220. The stock's 50 day simple moving average is $18.09 and its 200-day simple moving average is $17.42. Antero Midstream Corporation has a one year low of $13.77 and a one year high of $19.08. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 19.51 and a beta of 0.97. 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 issued its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $305.47 million for the quarter, compared to analysts' expectations 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 for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. On average, analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. Antero Midstream's dividend payout ratio is presently 94.74%.

Insider Buying and Selling

In other news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the transaction, the director owned 73,645 shares of the company's stock, valued at $1,390,417.60. This represents a 6.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.61% of the company's stock.

Antero Midstream 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.