Squarepoint Ops LLC Raises Position in Antero Midstream Corporation $AM

Key Points

• Squarepoint Ops LLC increased its Antero Midstream stake by 285.7% in the second quarter, bringing its holdings to 77,056 shares valued at approximately $1.75 million. Institutional investors collectively own 53.97% of the company.
• Analysts maintain a generally neutral view, with one Buy rating and five Holds. Antero Midstream has a consensus rating of Hold and an average price target of $24.50.
• Antero Midstream reported second-quarter EPS of $0.27, matching estimates, while revenue rose 7.1% year over year to $327.24 million. The company paid a quarterly dividend of $0.225, equivalent to a 4.2% annualized yield, though its payout ratio was 107.14%.

Squarepoint Ops LLC increased its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 285.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,056 shares of the pipeline company's stock after buying an additional 57,077 shares during the quarter. Squarepoint Ops LLC's holdings in Antero Midstream were worth $1,753,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AM. Baird Financial Group Inc. lifted its position in Antero Midstream by 43.8% during the 2nd quarter. Baird Financial Group Inc. now owns 22,623 shares of the pipeline company's stock worth $515,000 after acquiring an additional 6,893 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Antero Midstream by 3.0% in the second quarter. Parkside Financial Bank & Trust now owns 21,743 shares of the pipeline company's stock valued at $495,000 after acquiring an additional 642 shares in the last quarter. Amundi raised its stake in shares of Antero Midstream by 70.8% during the second quarter. Amundi now owns 940,170 shares of the pipeline company's stock valued at $21,389,000 after purchasing an additional 389,859 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Antero Midstream during the second quarter valued at approximately $505,000. Finally, Wedmont Private Capital lifted its position in shares of Antero Midstream by 2.1% during the second quarter. Wedmont Private Capital now owns 29,797 shares of the pipeline company's stock worth $664,000 after purchasing an additional 608 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings lowered shares of Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $24.50.

Insider Buying and Selling at Antero Midstream

In related news, insider Sheri Pearce sold 16,000 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider directly owned 83,900 shares of the company's stock, valued at $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brooks Klimley sold 5,000 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the transaction, the director owned 68,204 shares in the company, valued at $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company's stock.

Antero Midstream Price Performance

Shares of NYSE AM opened at $21.31 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a fifty-two week low of $16.96 and a fifty-two week high of $23.83. The business has a 50 day moving average price of $22.27 and a two-hundred day moving average price of $22.15. The firm has a market cap of $10.12 billion, a PE ratio of 25.37 and a beta of 0.65.

Antero Midstream (NYSE:AM - Get Free Report) last announced its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.27. The company had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.Antero Midstream's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 EPS. Sell-side analysts expect that Antero Midstream Corporation will post 1.09 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, July 29th. Antero Midstream's payout ratio is 107.14%.

Antero Midstream Company Profile

Antero Midstream Corp. NYSE: AM owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production. The company provides gathering, compression, processing and water-handling services, primarily for Antero Resources and other producers.

Antero Midstream's gathering and compression assets collect production from wells and transport it to processing and downstream markets. Its water business provides fresh-water delivery and wastewater handling services, including the gathering, recycling and disposal of water used in hydraulic fracturing and other production activities.

The company's operations are concentrated in the Appalachian Basin, particularly in the Marcellus and Utica shale areas of West Virginia and Ohio.

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