Miller Howard Investments Inc. NY Sells 839,531 Shares of Antero Midstream Corporation $AM

Miller Howard Investments Inc. NY lessened its position in Antero Midstream Corporation (NYSE:AM) by 42.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,138,874 shares of the pipeline company’s stock after selling 839,531 shares during the period. Miller Howard Investments Inc. NY’s holdings in Antero Midstream were worth $25,966,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Elevation Wealth Partners LLC acquired a new stake in Antero Midstream in the 4th quarter valued at about $27,000. Larson Financial Group LLC raised its stake in 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 during the period. Arax Advisory Partners lifted its position 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 during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after buying an additional 2,199 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Antero Midstream by 401.4% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after acquiring an additional 2,224 shares during the period. 53.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group lifted their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. Finally, UBS Group upped their price target 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. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $24.00.

Insider Activity

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. The trade was a 6.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the transaction, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. The trade was a 10.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $22.23 on Wednesday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The stock’s fifty day moving average price is $21.52 and its two-hundred day moving average price is $20.65. Antero Midstream Corporation has a one year low of $16.77 and a one year high of $23.83. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 25.85 and a beta of 0.66.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. On average, equities analysts forecast that Antero Midstream Corporation will post 1.12 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is currently 104.65%.

Antero Midstream 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.