Corient Private Wealth LP Buys New Shares in Antero Midstream Corporation $AM

Corient Private Wealth LP bought a new position in Antero Midstream Corporation (NYSE:AM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 51,788 shares of the pipeline company’s stock, valued at approximately $1,178,000.

Other large investors also recently added to or reduced their stakes in the company. Palo Duro Investment Partners LP bought a new position in Antero Midstream during the 2nd quarter worth approximately $632,000. Bank of America Corp DE purchased a new stake in Antero Midstream in the second quarter worth about $21,090,000. Strategic Global Advisors LLC bought a new stake in shares of Antero Midstream during the second quarter valued at approximately $4,558,000. Freestone Grove Partners LP purchased a new stake in shares of Antero Midstream in the 2nd quarter worth about $15,895,000. Finally, Caisse de depot et placement du Quebec bought a new stake in shares of Antero Midstream in the 2nd quarter worth approximately $1,611,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling

In other news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the sale, the director owned 68,204 shares in the company, valued at approximately $1,450,699.08. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the transaction, the insider directly owned 83,900 shares in the company, valued at approximately $1,846,639. The trade was a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

AM has been the topic of several recent analyst reports. Weiss Ratings downgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Wells Fargo & Company raised their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Antero Midstream presently has an average rating of “Hold” and a consensus price target of $24.50.

Antero Midstream Stock Up 0.7%

NYSE AM opened at $22.61 on Friday. The company has a market capitalization of $10.73 billion, a P/E ratio of 26.92 and a beta of 0.65. Antero Midstream Corporation has a one year low of $16.96 and a one year high of $23.83. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day moving average price of $22.31 and a 200-day moving average price of $22.12.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.29 EPS. As a group, equities analysts predict that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is currently 107.14%.

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.