Shah Capital Management Sells 179,565 Shares of Antero Midstream Corporation $AM

Key Points

• Shah Capital Management reduced its stake in Antero Midstream Corporation by 23.5%, selling 179,565 shares and now holds 586,000 shares, representing about 2.2% of its total assets.
• Recent analyst reports have shown mixed views on Antero Midstream, with Zacks Research downgrading the stock to a "hold" rating, while Wells Fargo and Goldman Sachs raised their price targets.
• Antero Midstream announced a quarterly dividend of $0.225 per share, reflecting a 4.7% dividend yield and a high payout ratio of 94.74%.

Shah Capital Management decreased its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 23.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 586,000 shares of the pipeline company's stock after selling 179,565 shares during the quarter. Antero Midstream accounts for approximately 2.2% of Shah Capital Management's holdings, making the stock its 8th biggest holding. Shah Capital Management owned approximately 0.12% of Antero Midstream worth $11,105,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in Antero Midstream in the first quarter valued at about $29,000. UMB Bank n.a. increased its holdings in shares of Antero Midstream by 170.8% during the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after buying an additional 2,188 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of Antero Midstream by 41.2% in the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock valued at $82,000 after acquiring an additional 1,328 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Antero Midstream by 34.0% in the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after acquiring an additional 2,165 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of 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. 53.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AM has been the subject of a number of recent analyst reports. Zacks Research cut Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Weiss Ratings restated a "buy (a-)" rating on shares of Antero Midstream in a report on Saturday, September 27th. Wells Fargo & Company lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. The Goldman Sachs Group upped their price target on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Finally, 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 report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $18.50.

Insider Activity at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction that occurred on 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 sale, the insider directly owned 106,489 shares of the company's stock, valued at $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.

Antero Midstream Trading Down 0.1%

AM stock opened at $19.08 on Tuesday. The company has a market cap of $9.13 billion, a P/E ratio of 20.08 and a beta of 0.85. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.82. 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 business has a fifty day moving average of $18.35 and a 200-day moving average of $17.98.

Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating 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 firm's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. As a group, equities research analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, July 23rd. Antero Midstream's dividend payout ratio (DPR) is 94.74%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.