Palo Duro Investment Partners LP bought a new position in shares of Antero Midstream Corporation (NYSE:AM – Free Report) in the 2nd quarter, Holdings Channel reports. The fund bought 27,759 shares of the pipeline company’s stock, valued at approximately $632,000. Antero Midstream makes up 0.1% of Palo Duro Investment Partners LP’s portfolio, making the stock its 18th biggest position.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Thrivent Financial for Lutherans increased its stake in Antero Midstream by 41.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 733,861 shares of the pipeline company’s stock valued at $13,056,000 after acquiring an additional 216,416 shares during the last quarter. Kesler Norman & Wride LLC acquired a new position in Antero Midstream during the fourth quarter valued at approximately $939,000. Cetera Investment Advisers lifted its stake in Antero Midstream by 9.9% during the first quarter. Cetera Investment Advisers now owns 867,200 shares of the pipeline company’s stock worth $19,772,000 after purchasing an additional 77,936 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Antero Midstream by 19.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,592,910 shares of the pipeline company’s stock worth $28,338,000 after purchasing an additional 254,088 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Antero Midstream in the 1st quarter valued at $2,189,000. Institutional investors and hedge funds own 53.97% of the company’s stock.
Insider Buying and Selling at Antero Midstream
In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the transaction, the director owned 68,204 shares of the company’s stock, valued at $1,450,699.08. This represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sheri Pearce sold 16,000 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the transaction, the insider owned 83,900 shares of the company’s stock, valued at $1,846,639. This represents 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.
Antero Midstream Price Performance
Antero Midstream (NYSE:AM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.27. The firm had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. Research analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.
Antero Midstream Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 107.14%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on AM. Weiss Ratings lowered Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Wells Fargo & Company upped their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.50.
Check Out Our Latest Stock Report on Antero Midstream
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.
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