LFG Wealth Partners LLC Invests $1.46 Million in Antero Midstream Corporation $AM

LFG Wealth Partners LLC bought a new position in Antero Midstream Corporation (NYSE:AM) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 82,040 shares of the pipeline company’s stock, valued at approximately $1,459,000.

Other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its holdings in Antero Midstream by 23.0% in the 4th quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock worth $59,000 after purchasing an additional 617 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Antero Midstream by 0.5% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock valued at $2,148,000 after buying an additional 660 shares in the last quarter. Choreo LLC raised its position in shares of Antero Midstream by 5.0% during the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock valued at $253,000 after buying an additional 679 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Antero Midstream by 6.9% during the fourth quarter. GAMMA Investing LLC now owns 10,884 shares of the pipeline company’s stock valued at $194,000 after buying an additional 701 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 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. UBS Group raised their price objective on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a report on Wednesday, April 22nd. The Goldman Sachs Group upped 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, Wells Fargo & Company increased their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Antero Midstream Price Performance

Antero Midstream stock opened at $21.31 on Tuesday. Antero Midstream Corporation has a 1 year low of $16.77 and a 1 year high of $23.83. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 24.78 and a beta of 0.66. The firm has a 50-day moving average of $21.61 and a two-hundred day moving average of $20.49. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99.

Antero Midstream (NYSE:AM) last announced its quarterly 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). The business had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.Antero Midstream’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. On average, research analysts forecast that Antero Midstream Corporation will post 1.12 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s dividend payout ratio is 104.65%.

Insider Activity

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of Antero Midstream stock in a transaction dated 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 owned 1,500,594 shares in the company, valued at $32,893,020.48. The trade was a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 business’s stock in a transaction dated 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 completion of the transaction, the insider owned 580,565 shares of the company’s stock, valued at $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

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.