Antero Midstream Corporation $AM is Shah Capital Management's 9th Largest Position

Key Points

• Shah Capital Management reduced its holdings in Antero Midstream Corporation by 3.0%, owning 765,565 shares valued at approximately $13.78 million, making it the firm’s 9th largest position.
• Antero Midstream reported $0.26 earnings per share for the recent quarter, exceeding the estimate of $0.24, with a revenue of $305.47 million, up 13.2% from the previous year.
• The company announced a quarterly dividend of $0.225 per share, resulting in an annual yield of 5.2% and a current dividend payout ratio of 94.74%.

Shah Capital Management lessened its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 765,565 shares of the pipeline company's stock after selling 23,832 shares during the quarter. Antero Midstream makes up about 2.8% of Shah Capital Management's portfolio, making the stock its 9th biggest holding. Shah Capital Management owned 0.16% of Antero Midstream worth $13,780,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hancock Whitney Corp increased its holdings in Antero Midstream by 1.5% in the 4th quarter. Hancock Whitney Corp now owns 43,085 shares of the pipeline company's stock worth $650,000 after acquiring an additional 624 shares in the last quarter. CWM LLC increased its holdings in Antero Midstream by 7.1% in the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after acquiring an additional 629 shares in the last quarter. Private Advisor Group LLC increased its holdings in Antero Midstream by 1.6% in the 1st quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock worth $733,000 after acquiring an additional 640 shares in the last quarter. Commerce Bank increased its holdings in Antero Midstream by 5.0% in the 1st quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock worth $301,000 after acquiring an additional 800 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Antero Midstream by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 194,907 shares of the pipeline company's stock worth $3,507,000 after acquiring an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company's stock.

Antero Midstream Trading Down 0.1%

Shares of AM traded down $0.0220 during mid-day trading on Friday, reaching $17.6880. The stock had a trading volume of 2,360,843 shares, compared to its average volume of 3,006,691. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. Antero Midstream Corporation has a 52-week low of $14.06 and a 52-week high of $19.08. The business's fifty day moving average is $17.95 and its 200 day moving average is $17.56. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 18.62 and a beta of 0.97.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $292.70 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. Antero Midstream's quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.1%. Antero Midstream's dividend payout ratio is currently 94.74%.

Analyst Ratings Changes

AM has been the subject of a number of research reports. Zacks Research raised shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday. Morgan Stanley upped their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. The Goldman Sachs Group upped their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a report on Monday, August 18th. Wells Fargo & Company upped their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a 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 assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.50.

Insider Transactions at Antero Midstream

In related 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 value of $94,400.00. Following the completion of the sale, the director owned 73,645 shares of the company's stock, valued at approximately $1,390,417.60. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. The trade was a 26.88% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company's stock.

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.