State of Alaska Department of Revenue Sells 131,092 Shares of Antero Midstream Corporation $AM

State of Alaska Department of Revenue trimmed its holdings in Antero Midstream Corporation (NYSE:AM) by 68.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,475 shares of the pipeline company’s stock after selling 131,092 shares during the period. State of Alaska Department of Revenue’s holdings in Antero Midstream were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in AM. Richardson Financial Services Inc. lifted its stake in shares of Antero Midstream by 330.2% in the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock valued at $25,000 after buying an additional 994 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of Antero Midstream in the third quarter valued at $25,000. Elevation Wealth Partners LLC bought a new position in shares of Antero Midstream in the fourth quarter valued at $27,000. Quent Capital LLC bought a new position in shares of Antero Midstream in the third quarter valued at $28,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Antero Midstream by 33.3% in the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after buying an additional 565 shares in the last quarter. 53.97% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Yvette K. Schultz sold 25,000 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.81, for a total value of $570,250.00. Following the completion of the sale, the insider owned 649,834 shares in the company, valued at $14,822,713.54. This represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sheri Pearce sold 14,000 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the sale, the insider owned 99,900 shares of the company’s stock, valued at approximately $2,273,724. This represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,000 shares of company stock worth $1,004,690 over the last quarter. Insiders own 0.86% of the company’s stock.

Antero Midstream Stock Performance

Shares of AM stock opened at $20.65 on Wednesday. The firm has a 50-day moving average of $22.29 and a 200-day moving average of $19.56. The company has a market cap of $9.77 billion, a P/E ratio of 24.01 and a beta of 0.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. Antero Midstream Corporation has a one year low of $16.24 and a one year high of $23.83.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts forecast that Antero Midstream Corporation will post 1.14 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.4%. Antero Midstream’s dividend payout ratio is currently 104.65%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AM. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. The Goldman Sachs Group raised their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. UBS Group raised their price objective on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Finally, Wells Fargo & Company increased their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.50.

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.