BNP Paribas Financial Markets Increases Stock Position in Antero Midstream Corporation $AM

BNP Paribas Financial Markets lifted its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 19.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,592,910 shares of the pipeline company’s stock after purchasing an additional 254,088 shares during the quarter. BNP Paribas Financial Markets’ holdings in Antero Midstream were worth $28,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Elevation Wealth Partners LLC purchased a new position in shares of Antero Midstream during the fourth quarter worth approximately $27,000. Larson Financial Group LLC lifted its holdings in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after buying an additional 2,199 shares during the last quarter. Hantz Financial Services Inc. grew its position in Antero Midstream by 138.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company’s stock valued at $52,000 after buying an additional 1,559 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in 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 buying an additional 2,224 shares during the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the sale, the insider directly owned 580,565 shares in the company, valued at $12,714,373.50. The trade was a 10.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This represents a 6.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 213,269 shares of company stock worth $4,713,681 in the last ninety days. 1.10% of the stock is owned by insiders.

Antero Midstream Price Performance

Antero Midstream stock opened at $21.57 on Friday. Antero Midstream Corporation has a one year low of $16.77 and a one year high of $23.83. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. The business has a fifty day moving average of $21.84 and a two-hundred day moving average of $20.31. The company has a market cap of $10.24 billion, a P/E ratio of 25.08 and a beta of 0.66.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. During the same period last year, the business posted $0.25 EPS. Antero Midstream’s revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Antero Midstream Corporation will post 1.12 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Analyst Ratings Changes

AM has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. UBS Group lifted their price objective on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.00.

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.