Rhumbline Advisers acquired a new position in Antero Midstream Corp (NYSE:AM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 583,754 shares of the pipeline company’s stock, valued at approximately $4,320,000.
Other institutional investors also recently added to or reduced their stakes in the company. Lee Financial Co purchased a new stake in Antero Midstream in the 2nd quarter worth approximately $61,000. Nisa Investment Advisors LLC purchased a new stake in Antero Midstream in the 3rd quarter worth approximately $74,000. World Asset Management Inc purchased a new stake in Antero Midstream in the 3rd quarter worth approximately $83,000. Signaturefd LLC purchased a new stake in Antero Midstream in the 3rd quarter worth approximately $87,000. Finally, Stephens Inc. AR purchased a new stake in Antero Midstream in the 3rd quarter worth approximately $95,000. Institutional investors and hedge funds own 55.10% of the company’s stock.
Shares of AM stock opened at $6.16 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.42 and a quick ratio of 0.42. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.49 and a beta of 1.29. The stock has a 50 day simple moving average of $7.19 and a 200-day simple moving average of $9.68. Antero Midstream Corp has a 1-year low of $6.10 and a 1-year high of $15.45.
Antero Midstream (NYSE:AM) last announced its earnings results on Tuesday, October 29th. The pipeline company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.19. The business had revenue of $243.80 million during the quarter, compared to the consensus estimate of $269.56 million. Antero Midstream had a positive return on equity of 13.53% and a negative net margin of 32.31%. Antero Midstream’s revenue was up 544.6% on a year-over-year basis. Analysts anticipate that Antero Midstream Corp will post 0.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Friday, November 1st will be paid a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a dividend yield of 20.00%. The ex-dividend date is Thursday, October 31st. Antero Midstream’s payout ratio is 372.73%.
Several equities research analysts have commented on the company. Stifel Nicolaus lowered Antero Midstream from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $14.00 to $11.00 in a research report on Thursday, August 1st. Mitsubishi UFJ Financial Group lowered Antero Midstream from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $17.00 to $13.00 in a research report on Friday, August 2nd. Robert W. Baird lowered their price objective on Antero Midstream from $15.00 to $9.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Raymond James lowered Antero Midstream from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Finally, UBS Group lowered Antero Midstream from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $17.00 to $13.00 in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.10.
In other news, Director W Howard Keenan, Jr. sold 2,855,848 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $6.81, for a total transaction of $19,448,324.88. Also, insider K. Phil Yoo sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.97, for a total value of $104,550.00. Following the transaction, the insider now directly owns 301,955 shares of the company’s stock, valued at $2,104,626.35. The disclosure for this sale can be found here. Corporate insiders own 7.91% of the company’s stock.
About Antero Midstream
Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.
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