Antero Midstream (NYSE:AM) Insider Sells $2,192,000.00 in Stock

Antero Midstream Corporation (NYSE:AM) insider Michael Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the transaction, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Antero Midstream Trading Up 1.3%

Shares of NYSE:AM traded up $0.29 during midday trading on Monday, reaching $21.99. The company’s stock had a trading volume of 2,312,962 shares, compared to its average volume of 2,687,307. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 25.57 and a beta of 0.68. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. Antero Midstream Corporation has a 1 year low of $16.77 and a 1 year high of $23.83. The business has a 50 day moving average price of $22.36 and a 200 day moving average price of $19.70.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business had revenue of $314.21 million for the quarter, compared to analysts’ expectations of $311.30 million. During the same quarter last year, the company posted $0.25 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts forecast that Antero Midstream Corporation will post 1.13 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Antero Midstream’s dividend payout ratio is presently 104.65%.

Hedge Funds Weigh In On Antero Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in AM. Richardson Financial Services Inc. boosted its position in Antero Midstream by 330.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 994 shares during the period. Root Financial Partners LLC acquired a new position in shares of Antero Midstream during the third quarter worth about $25,000. Elevation Wealth Partners LLC purchased a new stake in shares of Antero Midstream in the fourth quarter worth about $27,000. Quent Capital LLC purchased a new stake in shares of Antero Midstream in the third quarter worth about $28,000. Finally, Larson Financial Group LLC grew its stake in shares of Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AM. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. The Goldman Sachs Group increased their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. UBS Group boosted their price objective on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Finally, Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Antero Midstream Company 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.