Strategic Global Advisors LLC Makes New Investment in Antero Midstream Corporation $AM

Key Points

• Strategic Global Advisors initiated a position in Antero Midstream by purchasing 200,365 shares valued at approximately $4.6 million. Institutional investors collectively own 53.97% of the company.
• Analysts maintain a cautious outlook, with one Buy rating and five Holds, producing a consensus rating of Hold and an average price target of $24.50.
• Antero Midstream reported quarterly earnings of $0.27 per share and revenue of $327.24 million, while maintaining a $0.225 quarterly dividend, equivalent to a 4.0% annual yield.

Strategic Global Advisors LLC bought a new position in Antero Midstream Corporation (NYSE:AM - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 200,365 shares of the pipeline company's stock, valued at approximately $4,558,000.

Several other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC purchased a new position in Antero Midstream during the 2nd quarter valued at about $30,000. Ancora Advisors LLC purchased a new stake in Antero Midstream during the second quarter worth about $38,000. Arax Advisory Partners lifted its position in shares of Antero Midstream by 83.9% during the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock worth $31,000 after purchasing an additional 791 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after purchasing an additional 708 shares in the last quarter. Finally, Root Financial Partners LLC boosted its stake in shares of Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock valued at $46,000 after purchasing an additional 537 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AM shares. 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 upped their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings cut Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $24.50.

Insiders Place Their Bets

In other Antero Midstream 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 completion of the transaction, the insider owned 83,900 shares in the company, 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 available at this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the sale, the director owned 68,204 shares in the company, valued at $1,450,699.08. This trade represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company's stock.

Antero Midstream Stock Up 3.1%

Shares of NYSE AM opened at $22.60 on Thursday. The company has a market capitalization of $10.73 billion, a price-to-earnings ratio of 26.90 and a beta of 0.65. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. The business has a 50-day moving average of $22.27 and a two-hundred day moving average of $22.02. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83.

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

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a $0.225 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. Antero Midstream's dividend payout ratio is presently 107.14%.

Antero Midstream 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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