SIR Capital Management L.P. Boosts Stock Position in Antero Midstream Corporation $AM

Key Points

• SIR Capital Management increased its stake in Antero Midstream by 28.1% in the fourth quarter, buying 389,185 more shares and lifting its total holding to 1,772,534 shares worth about $31.5 million.
• Wall Street’s view on the stock remains cautious: the consensus rating is Hold, with an average price target of $24. Recent analyst moves included higher targets from Goldman Sachs, UBS, and Wells Fargo, while Morgan Stanley upgraded the stock to equal weight.
• Antero Midstream reported $0.25 EPS on $314.21 million in revenue, narrowly missing earnings expectations but topping revenue estimates. The company also paid a quarterly dividend of $0.225 per share, implying a 4.2% yield.

SIR Capital Management L.P. boosted its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,772,534 shares of the pipeline company's stock after acquiring an additional 389,185 shares during the period. Antero Midstream makes up approximately 3.5% of SIR Capital Management L.P.'s investment portfolio, making the stock its 7th largest holding. SIR Capital Management L.P. owned 0.37% of Antero Midstream worth $31,533,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AM. Elevation Wealth Partners LLC bought a new position in shares of Antero Midstream during the fourth quarter worth about $27,000. Larson Financial Group LLC raised its position in Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock valued at $31,000 after buying an additional 708 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company's stock valued at $39,000 after buying an additional 2,199 shares during the last quarter. Hantz Financial Services Inc. raised its position in Antero Midstream by 138.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company's stock valued at $52,000 after buying an additional 1,559 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company's stock valued at $53,000 after buying an additional 2,224 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AM. Morgan Stanley raised Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a "buy (a-)" rating on shares of Antero Midstream in a research report on Wednesday, June 3rd. UBS Group lifted their target price on Antero Midstream from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company lifted their target price on Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Antero Midstream presently has an average rating of "Hold" and a consensus price target of $24.00.

Antero Midstream Price Performance

Shares of NYSE AM opened at $21.64 on Friday. The business's 50 day moving average price is $21.64 and its two-hundred day moving average price is $20.45. The company has a market cap of $10.28 billion, a PE ratio of 25.16 and a beta of 0.66. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. Antero Midstream Corporation has a twelve month low of $16.77 and a twelve month high of $23.83.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The business had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.Antero Midstream's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. On average, analysts predict that Antero Midstream Corporation will post 1.12 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream's payout ratio is 104.65%.

Insider Buying and Selling

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the transaction, the insider owned 1,500,594 shares of the company's stock, valued at $32,893,020.48. The trade was a 6.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the transaction, the insider directly owned 580,565 shares in the company, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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