Spirit of America Management Corp NY grew its holdings in Antero Midstream GP LP (NYSE:AMGP) by 1,434.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,198,916 shares of the company’s stock after acquiring an additional 1,120,766 shares during the period. Antero Midstream GP accounts for 2.4% of Spirit of America Management Corp NY’s portfolio, making the stock its 9th largest holding. Spirit of America Management Corp NY owned 0.64% of Antero Midstream GP worth $16,521,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AMGP. Chickasaw Capital Management LLC bought a new position in Antero Midstream GP in the first quarter worth approximately $144,642,000. Zimmer Partners LP bought a new stake in shares of Antero Midstream GP during the 4th quarter valued at $32,973,000. Neuberger Berman Group LLC raised its position in shares of Antero Midstream GP by 29.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 5,331,021 shares of the company’s stock valued at $90,201,000 after purchasing an additional 1,225,227 shares during the period. Tortoise Capital Advisors L.L.C. raised its position in shares of Antero Midstream GP by 19.8% during the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 6,626,532 shares of the company’s stock valued at $112,121,000 after purchasing an additional 1,093,947 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its position in shares of Antero Midstream GP by 95.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 2,146,700 shares of the company’s stock valued at $23,992,000 after purchasing an additional 1,049,900 shares during the period. Institutional investors and hedge funds own 78.40% of the company’s stock.
AMGP has been the topic of several recent analyst reports. ValuEngine downgraded shares of Antero Midstream GP from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded shares of Antero Midstream GP from a “strong sell” rating to a “hold” rating in a research report on Monday, February 18th. Finally, Raymond James decreased their price objective on shares of Antero Midstream GP from $27.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Antero Midstream GP has a consensus rating of “Hold” and an average target price of $19.50.
AMGP remained flat at $$12.54 during trading on Wednesday. 4,904,208 shares of the company traded hands, compared to its average volume of 1,894,704. The stock has a market capitalization of $2.34 billion, a PE ratio of 38.00 and a beta of 1.80. Antero Midstream GP LP has a 52 week low of $10.12 and a 52 week high of $19.91.
Antero Midstream GP (NYSE:AMGP) last posted its earnings results on Wednesday, February 13th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.06). The company had revenue of $43.49 million for the quarter, compared to analysts’ expectations of $42.69 million. Antero Midstream GP had a net margin of 43.36% and a return on equity of 246.65%. The business’s revenue was up 83.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. Analysts forecast that Antero Midstream GP LP will post 0.9 EPS for the current year.
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Antero Midstream GP Company Profile
Antero Midstream GP LP owns, operates, and develops midstream energy assets in the Marcellus and Utica Shales in West Virginia and Ohio. Its assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants, and water handling and treatment assets, which provide midstream services to Antero Resources Corporation under long term fixed fee contracts.
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