Antero Midstream Corporation $AM Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in Antero Midstream Corporation (NYSE:AM) by 17.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,325 shares of the pipeline company’s stock after selling 2,244 shares during the quarter. Truist Financial Corp’s holdings in Antero Midstream were worth $196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transce3nd LLC acquired a new position in Antero Midstream in the first quarter valued at approximately $29,000. Brooklyn Investment Group boosted its holdings in Antero Midstream by 41.2% in the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company’s stock valued at $82,000 after purchasing an additional 1,328 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Antero Midstream by 34.0% in the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company’s stock valued at $154,000 after purchasing an additional 2,165 shares in the last quarter. CWM LLC boosted its holdings in Antero Midstream by 7.1% in the first quarter. CWM LLC now owns 9,472 shares of the pipeline company’s stock valued at $170,000 after purchasing an additional 629 shares in the last quarter. Finally, HB Wealth Management LLC acquired a new stake in shares of Antero Midstream in the second quarter valued at approximately $203,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Sheri Pearce sold 39,155 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider owned 106,489 shares in the company, valued at $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AM shares. Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Wells Fargo & Company increased their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 1st. Finally, The Goldman Sachs Group increased their price target on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a “neutral” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.50.

Antero Midstream Price Performance

Antero Midstream stock opened at $18.08 on Friday. Antero Midstream Corporation has a one year low of $14.22 and a one year high of $19.82. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day moving average of $18.40 and a two-hundred day moving average of $18.01. The company has a market cap of $8.65 billion, a P/E ratio of 19.03 and a beta of 0.85.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. During the same quarter last year, the company earned $0.23 earnings per share. Antero Midstream’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. Antero Midstream’s dividend payout ratio (DPR) is 94.74%.

Antero Midstream Company 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.