Antero Midstream (NYSE:AM – Get Free Report) released its quarterly earnings data on Wednesday. The pipeline company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03), FiscalAI reports. The company had revenue of $327.24 million for the quarter, compared to analysts’ expectations of $326.43 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%.
Antero Midstream Trading Down 0.7%
Shares of AM traded down $0.16 during trading on Wednesday, reaching $21.59. 1,839,437 shares of the company traded hands, compared to its average volume of 2,635,623. Antero Midstream has a twelve month low of $16.84 and a twelve month high of $23.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. The stock has a 50-day simple moving average of $22.05 and a 200-day simple moving average of $21.48. The stock has a market cap of $10.26 billion, a PE ratio of 25.11 and a beta of 0.64.
Antero Midstream Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on AM
Insider Activity
In other news, insider Yvette K. Schultz sold 69,269 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were 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 approximately $12,714,373.50. This trade represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael N. Kennedy sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. This trade represents a 6.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.
Institutional Trading of Antero Midstream
A number of large investors have recently bought and sold shares of AM. Arax Advisory Partners grew its position in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after buying an additional 791 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 worth $39,000 after buying an additional 2,199 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after buying an additional 2,224 shares during the period. Quattro Advisors LLC purchased a new stake in shares of Antero Midstream in the fourth quarter valued at approximately $89,000. Finally, Smartleaf Asset Management LLC grew its holdings in Antero Midstream by 540.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,028 shares of the pipeline company’s stock worth $90,000 after acquiring an additional 4,243 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.
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.
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