Ethic Inc. Decreases Stake in Antero Midstream Corporation $AM

Ethic Inc. trimmed its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 25.3% during the third quarter, Holdings Channel reports. The fund owned 102,064 shares of the pipeline company’s stock after selling 34,564 shares during the quarter. Ethic Inc.’s holdings in Antero Midstream were worth $1,984,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AM. Nomura Asset Management Co. Ltd. boosted its holdings in Antero Midstream by 58.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 2,700 shares of the pipeline company’s stock valued at $51,000 after purchasing an additional 1,000 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after purchasing an additional 2,224 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Antero Midstream during the 2nd quarter valued at approximately $123,000. Bayforest Capital Ltd grew its position in shares of Antero Midstream by 277.3% during the second quarter. Bayforest Capital Ltd now owns 6,542 shares of the pipeline company’s stock worth $124,000 after buying an additional 4,808 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in shares of Antero Midstream by 36.9% in the second quarter. TD Waterhouse Canada Inc. now owns 6,907 shares of the pipeline company’s stock worth $126,000 after buying an additional 1,861 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total transaction of $87,950.00. Following the completion of the transaction, the director owned 72,622 shares in the company, valued at approximately $1,277,420.98. This represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $17.80 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.46. The firm’s 50-day moving average price is $17.81 and its two-hundred day moving average price is $18.07. Antero Midstream Corporation has a 52-week low of $15.03 and a 52-week high of $19.82. The stock has a market capitalization of $8.48 billion, a P/E ratio of 18.16 and a beta of 0.80.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Antero Midstream had a return on equity of 22.61% and a net margin of 40.07%.The business had revenue of $294.82 million for the quarter, compared to analysts’ expectations of $287.30 million. During the same period in the prior year, the firm earned $0.21 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $0.90 annualized dividend and a dividend yield of 5.1%. Antero Midstream’s payout ratio is 91.84%.

Analysts Set New Price Targets

A number of research analysts have commented on AM shares. Zacks Research downgraded shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Morgan Stanley upped their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a research report on Monday. Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Wells Fargo & Company upped their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 23rd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Antero Midstream currently has an average rating of “Hold” and an average target price of $19.17.

About Antero Midstream

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.