Envestnet Asset Management Inc. Purchases 9,609 Shares of Antero Midstream Co. (NYSE:AM)

Envestnet Asset Management Inc. increased its position in Antero Midstream Co. (NYSE:AM) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 555,075 shares of the pipeline company’s stock after buying an additional 9,609 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Antero Midstream were worth $6,439,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC raised its holdings in Antero Midstream by 7.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 13,395 shares of the pipeline company’s stock valued at $155,000 after acquiring an additional 898 shares during the period. Captrust Financial Advisors raised its holdings in Antero Midstream by 11.5% in the 1st quarter. Captrust Financial Advisors now owns 9,651 shares of the pipeline company’s stock valued at $105,000 after acquiring an additional 994 shares during the period. Clear Harbor Asset Management LLC raised its holdings in Antero Midstream by 1.7% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 59,150 shares of the pipeline company’s stock valued at $686,000 after acquiring an additional 1,000 shares during the period. Treasurer of the State of North Carolina raised its holdings in Antero Midstream by 0.7% in the 1st quarter. Treasurer of the State of North Carolina now owns 146,993 shares of the pipeline company’s stock valued at $1,542,000 after acquiring an additional 1,050 shares during the period. Finally, PDT Partners LLC raised its holdings in Antero Midstream by 9.7% in the 1st quarter. PDT Partners LLC now owns 13,600 shares of the pipeline company’s stock valued at $148,000 after acquiring an additional 1,200 shares during the period. 52.02% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Janine J. Mcardle purchased 6,011 shares of Antero Midstream stock in a transaction that occurred on Tuesday, August 22nd. The shares were acquired at an average price of $11.96 per share, for a total transaction of $71,891.56. Following the transaction, the director now owns 54,093 shares of the company’s stock, valued at approximately $646,952.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Antero Midstream Stock Performance

Shares of NYSE:AM opened at $13.01 on Friday. The company’s 50 day moving average price is $12.24 and its two-hundred day moving average price is $11.65. Antero Midstream Co. has a 12-month low of $9.56 and a 12-month high of $13.06. The firm has a market cap of $6.24 billion, a PE ratio of 17.82 and a beta of 2.38. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.51.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The business had revenue of $263.84 million for the quarter, compared to analyst estimates of $256.23 million. Antero Midstream had a net margin of 34.61% and a return on equity of 18.98%. Equities research analysts predict that Antero Midstream Co. will post 0.84 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Tuesday, October 24th. This represents a $0.90 annualized dividend and a dividend yield of 6.92%. Antero Midstream’s dividend payout ratio is 123.29%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Antero Midstream in a report on Thursday, October 5th. They issued a “neutral” rating and a $12.50 price target on the stock. StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Pickering Energy Partners began coverage on shares of Antero Midstream in a research report on Tuesday, October 3rd. They set an “outperform” rating on the stock. Finally, UBS Group decreased their target price on shares of Antero Midstream from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.30.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure in the Appalachian Basin. It operates through Gathering and Processing, and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.