Sheri Pearce Sells 14,000 Shares of Antero Midstream (NYSE:AM) Stock

Antero Midstream Corporation (NYSE:AM) insider Sheri Pearce sold 14,000 shares of Antero Midstream stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the transaction, the insider directly owned 99,900 shares of the company’s stock, valued at $2,273,724. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Antero Midstream Price Performance

Shares of AM opened at $23.12 on Thursday. Antero Midstream Corporation has a twelve month low of $15.07 and a twelve month high of $23.13. The company has a market capitalization of $10.94 billion, a P/E ratio of 26.89 and a beta of 0.77. The firm has a 50 day moving average of $19.89 and a 200 day moving average of $18.75. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The business had revenue of $297.00 million for the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. As a group, equities research analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 3.9%. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Institutional Trading of Antero Midstream

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AM. Richardson Financial Services Inc. boosted its stake in shares of Antero Midstream by 330.2% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 994 shares during the last quarter. Root Financial Partners LLC purchased a new position in Antero Midstream during the third quarter valued at $25,000. Elevation Wealth Partners LLC bought a new stake in Antero Midstream during the fourth quarter valued at about $27,000. Quent Capital LLC bought a new stake in Antero Midstream during the third quarter valued at about $28,000. Finally, Larson Financial Group LLC increased 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 worth $31,000 after buying an additional 708 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AM shares. Morgan Stanley upped their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. Zacks Research downgraded shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wells Fargo & Company lifted their target price on shares of Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Weiss Ratings raised Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. Finally, The Goldman Sachs Group lifted their price objective on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Antero Midstream presently has an average rating of “Hold” and a consensus price target of $21.33.

About Antero Midstream

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.