NEOS Investment Management LLC Buys 295,709 Shares of Antero Midstream Corporation $AM

NEOS Investment Management LLC boosted its stake in shares of Antero Midstream Corporation (NYSE:AM) by 37.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,084,544 shares of the pipeline company’s stock after acquiring an additional 295,709 shares during the quarter. NEOS Investment Management LLC owned 0.23% of Antero Midstream worth $24,673,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AM. Continuum Advisory LLC acquired a new stake in shares of Antero Midstream in the 2nd quarter valued at $25,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Antero Midstream during the 2nd quarter worth about $484,000. Wellington Management Group LLP increased its position in shares of Antero Midstream by 42.2% during the 2nd quarter. Wellington Management Group LLP now owns 571,156 shares of the pipeline company’s stock worth $12,994,000 after purchasing an additional 169,397 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in Antero Midstream during the 2nd quarter valued at about $220,000. Finally, Comprehensive Money Management Services LLC acquired a new position in Antero Midstream in the second quarter valued at about $338,000. 53.97% of the stock is owned by institutional investors.

Antero Midstream Price Performance

Shares of AM stock opened at $22.61 on Friday. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The firm’s 50 day moving average is $22.31 and its 200-day moving average is $22.12. The firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 26.92 and a beta of 0.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $327.24 million for the quarter, compared to the consensus estimate of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Sell-side analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.

Insider Activity

In other news, Director Brooks Klimley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the transaction, the director owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider directly owned 83,900 shares of the company’s stock, valued at $1,846,639. This represents a 16.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

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.