WESPAC Advisors LLC Purchases Shares of 25,806 Antero Midstream Corporation $AM

Key Points

• WESPAC Advisors LLC acquired 25,806 shares of Antero Midstream Corporation, valued at approximately $489,000, during the second quarter.
• Insider Sheri Pearce sold 39,155 shares of Antero Midstream, reducing her holdings by 26.88% and retaining 106,489 shares worth around $1.86 million.
• Multiple analysts have revised their price targets for Antero Midstream, with Wells Fargo increasing its target from $17.00 to $19.00 and maintaining an "equal weight" rating.

WESPAC Advisors LLC purchased a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 25,806 shares of the pipeline company's stock, valued at approximately $489,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AM. Allspring Global Investments Holdings LLC acquired a new stake in shares of Antero Midstream during the first quarter worth about $529,000. Sequoia Financial Advisors LLC increased its position in shares of Antero Midstream by 6.5% during the first quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company's stock worth $289,000 after purchasing an additional 975 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of Antero Midstream during the first quarter worth about $459,000. KBC Group NV increased its position in shares of Antero Midstream by 18.5% during the first quarter. KBC Group NV now owns 17,628 shares of the pipeline company's stock worth $317,000 after purchasing an additional 2,757 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Antero Midstream by 102.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company's stock worth $852,000 after purchasing an additional 23,922 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of Antero Midstream stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the sale, the insider owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AM. Wells Fargo & Company lifted their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley boosted their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. The Goldman Sachs Group boosted their price target on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a research report on Monday, August 18th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Antero Midstream in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $18.50.

Antero Midstream Price Performance

Shares of AM opened at $19.13 on Wednesday. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.82. The stock's 50 day moving average is $18.39 and its two-hundred day moving average is $17.99. The firm has a market capitalization of $9.15 billion, a PE ratio of 20.13 and a beta of 0.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company had revenue of $305.47 million for the quarter, compared to analyst estimates of $292.70 million. During the same quarter in the previous year, the company earned $0.23 EPS. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. Research analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

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.

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