Pasadena Private Wealth LLC Invests $648,000 in Antero Midstream Corporation $AM

Pasadena Private Wealth LLC purchased a new position in shares of Antero Midstream Corporation (NYSE:AM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,402 shares of the pipeline company’s stock, valued at approximately $648,000.

Other hedge funds have also modified their holdings of the company. Root Financial Partners LLC purchased a new position in shares of Antero Midstream during the 3rd quarter worth $25,000. Elevation Wealth Partners LLC purchased a new position in Antero Midstream during the 4th quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 708 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 2,199 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Antero Midstream by 138.1% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company’s stock valued at $52,000 after acquiring an additional 1,559 shares during the period. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Stock Performance

Shares of AM opened at $21.16 on Friday. The stock has a 50-day simple moving average of $22.02 and a 200-day simple moving average of $20.20. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $10.05 billion, a PE ratio of 24.60 and a beta of 0.68. Antero Midstream Corporation has a 1 year low of $16.77 and a 1 year high of $23.83.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. During the same period last year, the business posted $0.25 EPS. Antero Midstream’s revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Antero Midstream Corporation will post 1.13 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Insiders Place Their Bets

In other news, insider Michael N. Kennedy sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the sale, the insider owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This trade represents a 6.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the sale, the insider directly owned 580,565 shares in the company, valued at $12,714,373.50. This trade represents a 10.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 213,269 shares of company stock worth $4,713,681 over the last 90 days. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AM shares. Wells Fargo & Company raised their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. UBS Group raised their target price on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 25th. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. Finally, The Goldman Sachs Group raised their target price on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.00.

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.