Shah Capital Management cut its holdings in shares of Antero Midstream Corporation (NYSE:AM – Free Report) by 6.3% during the third quarter, Holdings Channel reports. The fund owned 521,713 shares of the pipeline company’s stock after selling 35,117 shares during the quarter. Antero Midstream comprises about 1.7% of Shah Capital Management’s holdings, making the stock its 7th biggest holding. Shah Capital Management’s holdings in Antero Midstream were worth $10,518,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of AM. Farther Finance Advisors LLC lifted its holdings in shares of Antero Midstream by 32.4% during the third quarter. Farther Finance Advisors LLC now owns 161,339 shares of the pipeline company’s stock worth $3,253,000 after buying an additional 39,447 shares in the last quarter. Eastern Bank boosted its holdings in shares of Antero Midstream by 428.8% during the 3rd quarter. Eastern Bank now owns 1,375 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,115 shares in the last quarter. Tidal Investments LLC lifted its holdings in Antero Midstream by 5.4% during the 2nd quarter. Tidal Investments LLC now owns 155,732 shares of the pipeline company’s stock worth $3,543,000 after buying an additional 7,919 shares during the period. Engineers Gate Manager LP grew its holdings in Antero Midstream by 25.3% during the 2nd quarter. Engineers Gate Manager LP now owns 156,669 shares of the pipeline company’s stock worth $3,564,000 after acquiring an additional 31,650 shares during the period. Finally, Squarepoint Ops LLC increased its position in Antero Midstream by 285.7% in the 2nd quarter. Squarepoint Ops LLC now owns 77,056 shares of the pipeline company’s stock valued at $1,753,000 after buying an additional 57,077 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.
Antero Midstream Stock Down 0.7%
AM stock traded down $0.16 on Friday, hitting $21.03. 592,067 shares of the company’s stock were exchanged, compared to its average volume of 2,590,424. The firm has a 50 day moving average price of $21.75 and a two-hundred day moving average price of $21.92. Antero Midstream Corporation has a 12-month low of $16.96 and a 12-month high of $23.83. The stock has a market cap of $9.98 billion, a P/E ratio of 25.04 and a beta of 0.72. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84.
Antero Midstream Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were issued a $0.2250 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.3%. Antero Midstream’s dividend payout ratio (DPR) is currently 107.14%.
Insiders Place Their Bets
In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following 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 disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. UBS Group dropped their price objective on Antero Midstream from $24.00 to $22.00 and set a “neutral” rating on the stock in a research note on Monday, September 21st. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings lowered Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, October 2nd. Wells Fargo & Company lifted their price target on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday, August 3rd. Finally, Capital One Financial raised Antero Midstream from an “equal weight” rating to an “overweight” rating and set a $25.00 price objective on the stock in a report on Tuesday, September 22nd. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Antero Midstream has a consensus rating of “Hold” and an average target price of $24.20.
Get Our Latest Report on Antero Midstream
About Antero Midstream
Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production in the Appalachian Basin. The company primarily serves Antero Resources Corporation, providing the gathering and processing services needed to move production from well sites into downstream markets.
Antero Midstream’s operations include natural gas gathering, compression and processing, as well as water handling and related services.
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