Pasadena Private Wealth LLC Invests $834,000 in Antero Midstream Corporation $AM

Pasadena Private Wealth LLC acquired a new stake in Antero Midstream Corporation (NYSE:AMFree Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 36,650 shares of the pipeline company’s stock, valued at approximately $834,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AM. Abacus FCF Advisors LLC acquired a new position in Antero Midstream during the second quarter valued at approximately $10,788,000. Csenge Advisory Group bought a new position in Antero Midstream in the second quarter valued at approximately $213,000. NewEdge Wealth LLC acquired a new position in shares of Antero Midstream during the 2nd quarter worth approximately $501,000. Great Lakes Advisors LLC acquired a new position in shares of Antero Midstream during the 2nd quarter worth approximately $613,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Antero Midstream during the 2nd quarter worth approximately $280,000. Institutional investors and hedge funds own 53.97% of the company’s stock.

Antero Midstream Trading Down 1.2%

Antero Midstream stock opened at $22.43 on Thursday. Antero Midstream Corporation has a 52 week low of $16.96 and a 52 week high of $23.83. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $10.64 billion, a P/E ratio of 26.70 and a beta of 0.65. The stock has a 50-day simple moving average of $22.19 and a 200 day simple moving average of $21.90.

Antero Midstream (NYSE:AMGet Free Report) last released its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The firm had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. During the same quarter in the prior year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts expect that Antero Midstream Corporation will post 1.09 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a dividend of $0.225 per share. 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 4.0%. Antero Midstream’s payout ratio is presently 107.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AM. Wells Fargo & Company increased their price objective on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a report on Wednesday, April 22nd. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.50.

Check Out Our Latest Research Report on Antero Midstream

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of Antero Midstream 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 completion of the transaction, the insider directly owned 83,900 shares of the company’s stock, valued at $1,846,639. The trade was a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream 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 SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Antero Midstream Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Antero Midstream (NYSE:AM)

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