Hsbc Holdings PLC bought a new stake in shares of Antero Midstream Corporation (NYSE:AM – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 62,760 shares of the pipeline company’s stock, valued at approximately $1,440,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Clearstead Trust LLC acquired a new position in Antero Midstream during the 2nd quarter valued at approximately $30,000. Larson Financial Group LLC grew its stake in Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after buying an additional 708 shares during the last quarter. Arax Advisory Partners increased its position in Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after buying an additional 791 shares during the period. Ancora Advisors LLC acquired a new stake in Antero Midstream in the second quarter worth $38,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Antero Midstream by 219,900.0% in the fourth 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 during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on AM shares. Wells Fargo & Company boosted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings cut shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. Finally, The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Antero Midstream presently has an average rating of “Hold” and an average target price of $24.50.
Insiders Place Their Bets
In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the transaction, the director directly owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider owned 83,900 shares in the company, valued at approximately $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.
Antero Midstream Stock Performance
Shares of NYSE AM opened at $22.44 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The stock has a 50 day simple moving average of $22.31 and a 200-day simple moving average of $22.08. The company has a market cap of $10.65 billion, a PE ratio of 26.71 and a beta of 0.65. Antero Midstream Corporation has a 12-month low of $16.96 and a 12-month high of $23.83.
Antero Midstream (NYSE:AM – Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The business had revenue of $327.24 million during the quarter, compared to analyst estimates of $326.43 million. During the same period in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current year.
Antero Midstream Announces Dividend
The firm 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. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. Antero Midstream’s dividend payout ratio is presently 107.14%.
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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