Wealth Enhancement Advisory Services LLC Increases Position in Antero Midstream Corporation (NYSE:AM)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 102.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,356 shares of the pipeline company's stock after acquiring an additional 23,922 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Antero Midstream were worth $852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Antero Midstream during the fourth quarter worth about $486,000. SVB Wealth LLC purchased a new position in Antero Midstream during the fourth quarter worth about $289,000. Fisher Asset Management LLC purchased a new position in Antero Midstream during the fourth quarter worth about $165,000. Metis Global Partners LLC raised its stake in Antero Midstream by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 19,773 shares of the pipeline company's stock worth $298,000 after purchasing an additional 821 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in Antero Midstream during the fourth quarter worth about $226,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the sale, the director directly owned 73,645 shares of the company's stock, valued at $1,390,417.60. This represents a 6.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

Antero Midstream Trading Up 0.4%

Shares of Antero Midstream stock traded up $0.07 on Friday, reaching $18.32. The company had a trading volume of 1,774,339 shares, compared to its average volume of 2,988,424. The firm's 50 day moving average price is $18.30 and its two-hundred day moving average price is $17.08. The firm has a market cap of $8.78 billion, a PE ratio of 21.05 and a beta of 1.01. Antero Midstream Corporation has a 52-week low of $13.12 and a 52-week high of $19.09. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.42 and a current ratio of 1.42.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02. Antero Midstream had a net margin of 37.35% and a return on equity of 19.75%. The business had revenue of $291.13 million for the quarter, compared to the consensus estimate of $277.79 million. During the same period in the previous year, the firm earned $0.21 EPS. The business's revenue was up 4.3% on a year-over-year basis. Sell-side analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend was Wednesday, April 23rd. Antero Midstream's payout ratio is currently 103.45%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed an "underweight" rating and set a $17.00 target price (up from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd.

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.