Sprinkle Financial Consultants LLC Acquires New Stake in Antero Midstream Corporation $AM

Key Points

• Sprinkle Financial Consultants LLC invested approximately $269,000 in Antero Midstream Corporation by acquiring 14,220 shares during the second quarter of 2023.
• Antero Midstream reported earnings of $0.26 per share for its latest quarter, exceeding the consensus estimate of $0.24, and achieved 13.2% revenue growth year-over-year.
• The company declared a quarterly dividend of $0.225 per share, leading to an annualized yield of 4.8% with a dividend payout ratio of 94.74%.

Sprinkle Financial Consultants LLC acquired a new stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,220 shares of the pipeline company's stock, valued at approximately $269,000.

Other large investors also recently modified their holdings of the company. Transce3nd LLC purchased a new position in shares of Antero Midstream during the 1st quarter valued at about $29,000. UMB Bank n.a. raised its holdings in shares of Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock valued at $62,000 after buying an additional 2,188 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Antero Midstream by 41.2% during the 1st quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock valued at $82,000 after buying an additional 1,328 shares in the last quarter. GAMMA Investing LLC grew its position in Antero Midstream by 34.0% during 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 during the last quarter. Finally, CWM LLC grew its position in Antero Midstream by 7.1% during 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 during the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider owned 106,489 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is owned by corporate insiders.

Antero Midstream Stock Up 2.2%

Shares of NYSE AM traded up $0.42 during mid-day trading on Tuesday, hitting $19.17. 1,789,092 shares of the stock traded hands, compared to its average volume of 3,043,247. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. Antero Midstream Corporation has a 52 week low of $14.22 and a 52 week high of $19.32. The company has a market cap of $9.17 billion, a price-to-earnings ratio of 20.17 and a beta of 0.92. The stock has a fifty day moving average price of $17.94 and a 200-day moving average price of $17.83.

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. The business had revenue of $305.47 million during 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 in the previous year, the business earned $0.23 earnings per share. Research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AM. Zacks Research lowered Antero Midstream from a "strong-buy" rating to a "hold" rating in a research report on Friday. Morgan Stanley raised their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company raised their price target 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. Finally, The Goldman Sachs Group lifted their price objective on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $18.50.

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.