Fox Run Management L.L.C. Invests $630,000 in Antero Midstream Corporation $AM

Fox Run Management L.L.C. purchased a new stake in Antero Midstream Corporation (NYSE:AM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 32,401 shares of the pipeline company’s stock, valued at approximately $630,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Antero Midstream by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock valued at $723,424,000 after purchasing an additional 124,102 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Antero Midstream by 22.3% in the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after acquiring an additional 1,430,138 shares in the last quarter. Norges Bank bought a new stake in shares of Antero Midstream in the second quarter valued at about $80,504,000. Goldman Sachs Group Inc. lifted its stake in Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the period. Finally, Boston Trust Walden Corp grew its holdings in Antero Midstream by 5.5% during the 3rd quarter. Boston Trust Walden Corp now owns 3,738,016 shares of the pipeline company’s stock worth $72,667,000 after acquiring an additional 194,480 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

AM has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday. Wall Street Zen downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Morgan Stanley increased their target price on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, November 12th. Wells Fargo & Company boosted their price target on Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Finally, Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.33.

Insider Activity

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the transaction, the director directly owned 72,622 shares of the company’s stock, valued at $1,277,420.98. This trade represents a 6.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.86% of the stock is currently owned by company insiders.

Antero Midstream Price Performance

NYSE AM opened at $22.45 on Friday. Antero Midstream Corporation has a 12-month low of $15.07 and a 12-month high of $22.57. The firm’s fifty day simple moving average is $19.09 and its two-hundred day simple moving average is $18.47. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $10.62 billion, a P/E ratio of 26.10 and a beta of 0.81.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. During the same period in the previous year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. Antero Midstream’s dividend payout ratio is 104.65%.

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.