Chickasaw Capital Management LLC Trims Stock Position in Antero Midstream Corporation $AM

Chickasaw Capital Management LLC trimmed its stake in Antero Midstream Corporation (NYSE:AM) by 26.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,261,933 shares of the pipeline company’s stock after selling 445,757 shares during the period. Antero Midstream accounts for about 1.0% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. Chickasaw Capital Management LLC owned about 0.26% of Antero Midstream worth $24,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Antero Midstream in the second quarter worth about $80,504,000. Tortoise Capital Advisors L.L.C. raised its position in shares of Antero Midstream by 31.7% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company’s stock worth $167,614,000 after acquiring an additional 2,242,283 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after purchasing an additional 1,400,368 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Antero Midstream during the second quarter valued at approximately $20,044,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Antero Midstream in the second quarter worth $18,811,000. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

Shares of Antero Midstream stock opened at $17.69 on Thursday. Antero Midstream Corporation has a 1 year low of $14.22 and a 1 year high of $19.82. The firm’s 50-day moving average is $17.92 and its 200 day moving average is $18.12. The stock has a market cap of $8.42 billion, a price-to-earnings ratio of 18.05 and a beta of 0.82. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.26 and a quick ratio of 1.26.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Antero Midstream had a net margin of 40.07% and a return on equity of 22.61%. The business had revenue of $294.82 million during the quarter, compared to analysts’ expectations of $287.30 million. During the same period in the previous year, the company earned $0.21 earnings per share. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.1%. The ex-dividend date was Wednesday, October 22nd. Antero Midstream’s dividend payout ratio (DPR) is currently 91.84%.

Insider Activity at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the sale, the director owned 72,622 shares of the company’s stock, valued at approximately $1,277,420.98. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on AM. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Morgan Stanley lifted their price target on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, November 12th. Wall Street Zen lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Antero Midstream presently has an average rating of “Hold” and a consensus target price of $18.83.

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.