Ethic Inc. Sells 4,525 Shares of Antero Midstream Corporation $AM

Ethic Inc. decreased its position in Antero Midstream Corporation (NYSE:AM) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 136,628 shares of the pipeline company’s stock after selling 4,525 shares during the quarter. Ethic Inc.’s holdings in Antero Midstream were worth $2,581,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AM. GAMMA Investing LLC boosted its holdings in Antero Midstream by 34.0% in the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company’s stock valued at $154,000 after acquiring an additional 2,165 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Antero Midstream by 102.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company’s stock valued at $852,000 after acquiring an additional 23,922 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in Antero Midstream by 4.9% in the first quarter. Janney Montgomery Scott LLC now owns 58,049 shares of the pipeline company’s stock valued at $1,045,000 after acquiring an additional 2,732 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Antero Midstream by 6.5% in the first quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company’s stock valued at $289,000 after buying an additional 975 shares during the period. Finally, Diversified Trust Co acquired a new position in Antero Midstream in the first quarter valued at about $495,000. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Down 0.1%

Shares of Antero Midstream stock opened at $17.83 on Friday. The business’s 50 day simple moving average is $18.39 and its 200 day simple moving average is $18.05. Antero Midstream Corporation has a 52-week low of $14.22 and a 52-week high of $19.82. The firm has a market cap of $8.53 billion, a PE ratio of 18.77 and a beta of 0.85. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The business had revenue of $305.47 million for the quarter, compared to analyst estimates of $292.70 million. During the same quarter last year, the firm earned $0.23 EPS. Antero Midstream’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Wednesday, October 22nd. Antero Midstream’s dividend payout ratio (DPR) is currently 94.74%.

Wall Street Analyst Weigh In

AM has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Antero Midstream in a research report on Friday. Wells Fargo & Company raised their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 1st. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Finally, Wall Street Zen raised Antero Midstream from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $18.50.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.86% of the stock is currently owned by corporate insiders.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.