Riverwater Partners LLC Acquires New Stake in Antero Midstream Corporation (NYSE:AM)

Riverwater Partners LLC purchased a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 54,124 shares of the pipeline company's stock, valued at approximately $974,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Antero Midstream in the fourth quarter valued at approximately $62,578,000. Boston Trust Walden Corp purchased a new stake in Antero Midstream in the first quarter valued at approximately $51,269,000. SIR Capital Management L.P. purchased a new stake in Antero Midstream in the fourth quarter valued at approximately $35,058,000. Balyasny Asset Management L.P. lifted its stake in Antero Midstream by 7,769.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,028,014 shares of the pipeline company's stock valued at $15,513,000 after buying an additional 1,014,951 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Antero Midstream by 22.5% in the fourth quarter. Northern Trust Corp now owns 4,105,379 shares of the pipeline company's stock valued at $61,950,000 after buying an additional 753,939 shares during the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

Shares of Antero Midstream stock traded down $0.01 during trading hours on Monday, hitting $18.38. 2,362,490 shares of the company were exchanged, compared to its average volume of 2,948,871. Antero Midstream Corporation has a 1 year low of $13.12 and a 1 year high of $19.09. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.49. The business has a 50-day moving average of $18.00 and a 200-day moving average of $16.87. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 21.12 and a beta of 1.03.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $291.13 million during the quarter, compared to analysts' expectations of $277.79 million. Antero Midstream had a return on equity of 19.75% and a net margin of 37.35%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 earnings per share. As a group, analysts expect 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, May 7th. Shareholders of record on Wednesday, April 23rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.90%. The ex-dividend date was Wednesday, April 23rd. Antero Midstream's payout ratio is 103.45%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AM shares. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Morgan Stanley reiterated an "underweight" rating and issued a $17.00 price objective (up previously from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd.

Insiders Place Their Bets

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total transaction of $94,400.00. Following the sale, the director now owns 73,645 shares of the company's stock, valued at $1,390,417.60. This trade represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.

About Antero Midstream

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.