Sprinkle Financial Consultants LLC Makes New $269,000 Investment 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 bought a new position in Antero Midstream Corporation (NYSE:AM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,220 shares of the pipeline company's stock, valued at approximately $269,000.

Several other large investors have also bought and sold shares of AM. Transce3nd LLC purchased a new position in Antero Midstream in the first quarter worth about $29,000. UMB Bank n.a. grew its stake in shares of Antero Midstream by 170.8% in the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after acquiring an additional 2,188 shares during the period. Brooklyn Investment Group grew 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 worth $82,000 after acquiring an additional 1,328 shares during the period. GAMMA Investing LLC grew its stake in shares of Antero Midstream by 34.0% in the first 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 period. Finally, CWM LLC grew its stake in shares of Antero Midstream by 7.1% in the first 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 period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Antero Midstream Price Performance

Antero Midstream stock opened at $18.57 on Friday. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 19.55 and a beta of 0.92. The firm's fifty day moving average is $17.92 and its 200 day moving average is $17.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a 52-week low of $14.22 and a 52-week high of $19.08.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results 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 company had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. Antero Midstream's revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Sell-side analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. Antero Midstream's dividend payout ratio is presently 94.74%.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction 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 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 legal filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AM shares. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Zacks Research upgraded shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Morgan Stanley lifted their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group lifted their price target on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company boosted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.50.

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.

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