TD Waterhouse Canada Inc. Sells 60,048 Shares of Antero Midstream Corporation $AM

Key Points

• TD Waterhouse Canada cut its Antero Midstream stake by 96.7% in the second quarter, selling 60,048 shares and retaining 2,019 shares worth approximately $45,000. Institutional investors collectively own 53.97% of the company.
• Analysts maintain a cautious outlook, with one Buy rating and five Hold ratings. The average price target is $24.50, compared with the stock’s recent price near $22.09.
• Antero Midstream reported quarterly earnings of $0.27 per share, matching estimates, while revenue rose 7.1% year over year to $327.24 million. The company also pays a quarterly dividend of $0.225, equivalent to a 4.1% annualized yield.

TD Waterhouse Canada Inc. lowered its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 96.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,019 shares of the pipeline company's stock after selling 60,048 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Antero Midstream were worth $45,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AM. Continuum Advisory LLC acquired a new position in shares of Antero Midstream during the 2nd quarter worth approximately $25,000. Clearstead Trust LLC acquired a new stake in shares of Antero Midstream in the 2nd quarter valued at approximately $30,000. Ancora Advisors LLC bought a new position in shares of Antero Midstream in the second quarter valued at $38,000. Arax Advisory Partners grew its stake in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock valued at $31,000 after buying an additional 791 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in 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 buying an additional 708 shares during the last quarter. Institutional investors own 53.97% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the sale, the insider directly owned 83,900 shares in the company, valued at $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brooks Klimley sold 5,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company's stock.

Antero Midstream Trading Up 0.1%

AM stock opened at $22.09 on Monday. 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 company has a fifty day moving average price of $22.31 and a two-hundred day moving average price of $22.16. Antero Midstream Corporation has a one year low of $16.96 and a one year high of $23.83. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 26.29 and a beta of 0.65.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting the consensus estimate 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 net margin of 32.41% and a return on equity of 20.19%. The company's revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. Equities analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream's dividend payout ratio is currently 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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