Perella Weinberg Partners Capital Management LP lowered its holdings in shares of Antero Midstream GP LP (NYSE:AMGP) by 79.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 339,281 shares of the company’s stock after selling 1,311,014 shares during the quarter. Perella Weinberg Partners Capital Management LP’s holdings in Antero Midstream GP were worth $5,780,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Carnick & Kubik Group LLC acquired a new position in Antero Midstream GP in the 2nd quarter valued at $23,221,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Antero Midstream GP in the 2nd quarter valued at $12,697,000. Kayne Anderson Capital Advisors LP acquired a new position in Antero Midstream GP in the 2nd quarter valued at $10,694,000. JJJ Advisors Inc. acquired a new position in Antero Midstream GP in the 2nd quarter valued at $5,398,000. Finally, BlackRock Inc. grew its stake in Antero Midstream GP by 407.3% in the 1st quarter. BlackRock Inc. now owns 276,718 shares of the company’s stock valued at $4,425,000 after buying an additional 222,173 shares during the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.
Several analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. ValuEngine upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a research report on Tuesday, October 2nd. Wells Fargo & Co decreased their price target on shares of Antero Midstream GP from $24.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, August 9th. Credit Suisse Group assumed coverage on shares of Antero Midstream GP in a research report on Thursday, October 11th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Stifel Nicolaus upgraded shares of Antero Midstream GP to a “buy” rating and set a $35.00 price target on the stock in a research report on Monday, August 27th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $21.45.
In other news, insider Kevin J. Kilstrom sold 50,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $18.81, for a total transaction of $940,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider K. Phil Yoo sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $16.76, for a total transaction of $83,800.00. The disclosure for this sale can be found here.
NYSE AMGP opened at $15.28 on Friday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 509.33 and a beta of 1.11. Antero Midstream GP LP has a 52-week low of $14.85 and a 52-week high of $22.39.
Antero Midstream GP (NYSE:AMGP) last posted its quarterly earnings results on Wednesday, October 31st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $37.82 million during the quarter, compared to analyst estimates of $37.72 million. Antero Midstream GP had a return on equity of 231.93% and a net margin of 40.12%. The business’s revenue for the quarter was up 98.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 earnings per share. Sell-side analysts predict that Antero Midstream GP LP will post 0.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Friday, November 2nd will be issued a dividend of $0.144 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.77%. This is an increase from Antero Midstream GP’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, November 1st. Antero Midstream GP’s dividend payout ratio (DPR) is presently 1,933.33%.
About Antero Midstream GP
Antero Midstream GP LP owns, operates, and develops midstream energy assets in the Marcellus and Utica Shales in West Virginia and Ohio. Its assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants, and water handling and treatment assets, which provide midstream services to Antero Resources Corporation under long term fixed fee contracts.
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