Arizona State Retirement System Trims Position in Antero Midstream Co. (NYSE:AM)

Arizona State Retirement System decreased its position in Antero Midstream Co. (NYSE:AM) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,568 shares of the pipeline company’s stock after selling 1,862 shares during the quarter. Arizona State Retirement System’s holdings in Antero Midstream were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AM. Norges Bank bought a new stake in Antero Midstream in the 4th quarter worth approximately $37,729,000. BlackRock Inc. lifted its position in Antero Midstream by 9.1% in the 1st quarter. BlackRock Inc. now owns 32,917,158 shares of the pipeline company’s stock worth $357,809,000 after buying an additional 2,743,230 shares during the last quarter. First Trust Advisors LP lifted its position in Antero Midstream by 51.3% in the 1st quarter. First Trust Advisors LP now owns 5,221,579 shares of the pipeline company’s stock worth $56,759,000 after buying an additional 1,769,545 shares during the last quarter. Renaissance Technologies LLC lifted its position in Antero Midstream by 102.3% in the 1st quarter. Renaissance Technologies LLC now owns 1,980,382 shares of the pipeline company’s stock worth $21,527,000 after buying an additional 1,001,677 shares during the last quarter. Finally, Jennison Associates LLC bought a new stake in Antero Midstream in the 3rd quarter worth approximately $11,338,000. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

Shares of AM stock opened at $13.91 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.95 and a current ratio of 0.95. Antero Midstream Co. has a fifty-two week low of $9.69 and a fifty-two week high of $14.52. The company has a market capitalization of $6.67 billion, a P/E ratio of 18.06 and a beta of 2.25. The stock has a 50 day moving average price of $13.32 and a two-hundred day moving average price of $12.80.

Antero Midstream (NYSE:AM) last posted its earnings results on Thursday, February 15th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.03. Antero Midstream had a return on equity of 19.96% and a net margin of 35.69%. The firm had revenue of $260.17 million for the quarter, compared to analysts’ expectations of $261.04 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. Analysts expect that Antero Midstream Co. will post 0.96 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a dividend of $0.225 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $0.90 annualized dividend and a dividend yield of 6.47%. Antero Midstream’s dividend payout ratio (DPR) is presently 116.88%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Tudor, Pickering, Holt & Co. downgraded Antero Midstream from a “buy” rating to a “hold” rating and boosted their price objective for the company from $12.00 to $13.00 in a research report on Tuesday, March 12th. StockNews.com upgraded Antero Midstream from a “hold” rating to a “buy” rating in a research report on Saturday, March 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Antero Midstream presently has a consensus rating of “Hold” and a consensus target price of $12.70.

Insider Activity

In other Antero Midstream news, insider Sheri Pearce sold 16,394 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $13.67, for a total value of $224,105.98. Following the completion of the transaction, the insider now owns 170,266 shares in the company, valued at $2,327,536.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. 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.