Insider Selling: Antero Midstream (NYSE:AM) Director Sells 5,000 Shares of Stock

Antero Midstream Corporation (NYSE:AM) Director Brooks Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the sale, the director owned 69,680 shares in the company, valued at approximately $1,613,788.80. This trade represents a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Antero Midstream Trading Down 1.0%

Shares of AM traded down $0.24 during mid-day trading on Thursday, reaching $22.88. 3,074,168 shares of the company’s stock traded hands, compared to its average volume of 2,942,037. Antero Midstream Corporation has a 12 month low of $15.07 and a 12 month high of $23.35. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. The stock has a market cap of $10.83 billion, a P/E ratio of 26.61 and a beta of 0.77. The stock’s 50-day moving average is $20.00 and its two-hundred day moving average is $18.78.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The company had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. Research analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s payout ratio is 104.65%.

Hedge Funds Weigh In On Antero Midstream

Several large investors have recently bought and sold shares of the business. Richardson Financial Services Inc. lifted its position in Antero Midstream by 330.2% in the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock valued at $25,000 after acquiring an additional 994 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Antero Midstream in the third quarter valued at about $25,000. Quent Capital LLC acquired a new position in Antero Midstream during the third quarter worth $28,000. Elevation Wealth Partners LLC acquired a new stake in shares of Antero Midstream in the fourth quarter valued at about $27,000. Finally, Arax Advisory Partners boosted its stake in shares of Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 791 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AM. Morgan Stanley increased their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, February 13th. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. The Goldman Sachs Group lifted their price objective on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.33.

About Antero Midstream

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.