Los Angeles Capital Management LLC Trims Stock Position in Antero Midstream Corporation $AM

Los Angeles Capital Management LLC cut its holdings in Antero Midstream Corporation (NYSE:AM) by 8.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 501,611 shares of the pipeline company’s stock after selling 45,993 shares during the period. Los Angeles Capital Management LLC’s holdings in Antero Midstream were worth $9,506,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Transce3nd LLC acquired a new stake in Antero Midstream during the first quarter worth $29,000. Brooklyn Investment Group grew its holdings in shares of Antero Midstream by 41.2% during the 1st quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company’s stock worth $82,000 after purchasing an additional 1,328 shares during the period. Bayforest Capital Ltd increased its position in shares of Antero Midstream by 277.3% during the 2nd quarter. Bayforest Capital Ltd now owns 6,542 shares of the pipeline company’s stock worth $124,000 after purchasing an additional 4,808 shares during the last quarter. CWM LLC increased its position in shares of Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company’s stock worth $170,000 after purchasing an additional 629 shares during the last quarter. Finally, Burney Co. purchased a new stake in Antero Midstream in the 2nd quarter valued at about $193,000. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Trading Up 2.6%

Shares of AM stock opened at $17.70 on Monday. Antero Midstream Corporation has a fifty-two week low of $14.22 and a fifty-two week high of $19.82. The company has a 50 day moving average price of $18.35 and a 200 day moving average price of $18.15. The stock has a market capitalization of $8.43 billion, a P/E ratio of 18.06 and a beta of 0.88. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, October 29th. The pipeline company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.01). The business had revenue of $294.82 million during the quarter, compared to analysts’ expectations of $287.30 million. Antero Midstream had a net margin of 40.07% and a return on equity of 22.53%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.21 EPS. Equities research analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd were issued a $0.225 dividend. The ex-dividend date was Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a yield of 5.1%. Antero Midstream’s dividend payout ratio (DPR) is 91.84%.

Analyst Upgrades and Downgrades

AM has been the subject of several research analyst reports. Morgan Stanley increased their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company raised their price target 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. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.50.

Insider Buying and Selling

In related news, insider Sheri Pearce sold 39,155 shares of the business’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares of the company’s stock, valued at $1,864,622.39. The trade was a 26.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is owned by insiders.

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.