AXQ Capital LP Makes New $680,000 Investment in Antero Midstream Corporation $AM

AXQ Capital LP purchased a new position in shares of Antero Midstream Corporation (NYSE:AM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 34,955 shares of the pipeline company’s stock, valued at approximately $680,000.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Antero Midstream by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock worth $152,574,000 after purchasing an additional 1,430,138 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Antero Midstream by 40.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock worth $9,812,000 after buying an additional 146,300 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Antero Midstream by 54.3% during the 2nd quarter. Franklin Resources Inc. now owns 614,068 shares of the pipeline company’s stock worth $11,637,000 after buying an additional 216,022 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of Antero Midstream by 5.5% during the 3rd quarter. Boston Trust Walden Corp now owns 3,738,016 shares of the pipeline company’s stock valued at $72,667,000 after buying an additional 194,480 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Antero Midstream in the third quarter valued at approximately $2,676,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Up 1.9%

AM stock opened at $22.11 on Wednesday. The company’s 50 day moving average price is $18.81 and its 200 day moving average price is $18.38. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41. Antero Midstream Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $22.14. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 25.71 and a beta of 0.81.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, January 28th. Antero Midstream’s dividend payout ratio is 104.65%.

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 on Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total value of $87,950.00. Following the sale, the director directly owned 72,622 shares in the company, valued at $1,277,420.98. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AM has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. Wall Street Zen cut Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. The Goldman Sachs Group boosted their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday. 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 report on Wednesday, November 12th. Finally, Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.33.

Antero Midstream 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.