Thrivent Financial for Lutherans Sells 76,878 Shares of Antero Midstream Corporation $AM

Thrivent Financial for Lutherans reduced its stake in shares of Antero Midstream Corporation (NYSE:AM) by 12.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517,445 shares of the pipeline company’s stock after selling 76,878 shares during the quarter. Thrivent Financial for Lutherans owned about 0.11% of Antero Midstream worth $10,059,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Richardson Financial Services Inc. increased its stake in Antero Midstream by 330.2% in the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock valued at $25,000 after purchasing an additional 994 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Antero Midstream in the 3rd quarter valued at $25,000. Quent Capital LLC bought a new stake in shares of Antero Midstream in the 3rd quarter valued at $28,000. Global Retirement Partners LLC increased its position in shares of Antero Midstream by 33.3% in the 3rd quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after buying an additional 565 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in Antero Midstream by 58.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 2,700 shares of the pipeline company’s stock worth $51,000 after buying an additional 1,000 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Trading Up 0.5%

NYSE:AM opened at $18.74 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.46. Antero Midstream Corporation has a twelve month low of $15.07 and a twelve month high of $19.82. The company has a market cap of $8.93 billion, a P/E ratio of 19.12 and a beta of 0.81. The business has a 50 day moving average price of $18.06 and a two-hundred day moving average price of $18.08.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $0.90 annualized dividend and a yield of 4.8%. Antero Midstream’s payout ratio is 91.84%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley boosted their target price on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. Finally, Wells Fargo & Company increased their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 23rd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.17.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the transaction, the director owned 72,622 shares in the company, valued at $1,277,420.98. This trade represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Antero Midstream Company 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.