HB Wealth Management LLC Purchases New Holdings in Antero Midstream Corporation $AM

HB Wealth Management LLC purchased a new stake in Antero Midstream Corporation (NYSE:AM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,702 shares of the pipeline company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Antero Midstream during the 1st quarter worth $529,000. Sequoia Financial Advisors LLC grew its holdings in Antero Midstream by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company’s stock worth $289,000 after acquiring an additional 975 shares during the period. Silver Oak Securities Incorporated acquired a new stake in Antero Midstream during the 1st quarter worth $459,000. KBC Group NV grew its holdings in Antero Midstream by 18.5% during the 1st quarter. KBC Group NV now owns 17,628 shares of the pipeline company’s stock worth $317,000 after acquiring an additional 2,757 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Antero Midstream by 102.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company’s stock worth $852,000 after acquiring an additional 23,922 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Antero Midstream in a report on Saturday, September 27th. The Goldman Sachs Group lifted their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a “neutral” rating in a report on Monday, August 18th. Zacks Research lowered shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, Wall Street Zen raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.50.

Insider Buying and Selling

In related news, insider Sheri Pearce sold 39,155 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the sale, the insider directly owned 106,489 shares of the company’s stock, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

Antero Midstream Trading Up 0.3%

AM opened at $19.13 on Wednesday. The stock has a market capitalization of $9.15 billion, a P/E ratio of 20.13 and a beta of 0.85. Antero Midstream Corporation has a 12 month low of $14.22 and a 12 month high of $19.82. The firm’s fifty day simple moving average is $18.39 and its 200 day simple moving average is $17.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $305.47 million for the quarter, compared to analysts’ expectations of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. As a group, research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

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.