Van ECK Associates Corp Decreases Stock Holdings in Antero Midstream Corporation $AM

Van ECK Associates Corp lowered its holdings in Antero Midstream Corporation (NYSE:AM) by 32.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,661 shares of the pipeline company’s stock after selling 57,774 shares during the period. Van ECK Associates Corp’s holdings in Antero Midstream were worth $2,768,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC purchased a new stake in Antero Midstream during the 2nd quarter worth $30,000. Larson Financial Group LLC raised its position 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 purchasing an additional 708 shares during the period. Arax Advisory Partners raised its position in 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 purchasing an additional 791 shares during the period. Ancora Advisors LLC acquired a new position in shares of Antero Midstream during the second quarter worth about $38,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Antero Midstream by 219,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling

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

Antero Midstream Stock Performance

Antero Midstream stock opened at $22.47 on Friday. Antero Midstream Corporation has a 12-month low of $16.96 and a 12-month high of $23.83. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 26.75 and a beta of 0.65. The firm’s fifty day moving average price is $22.32 and its 200 day moving average price is $22.11.

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

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. Antero Midstream’s dividend payout ratio is currently 107.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AM shares. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. Weiss Ratings lowered Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company upped their price target on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.50.

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.