Exchange Traded Concepts LLC Grows Stock Holdings in Antero Midstream Corporation $AM

Exchange Traded Concepts LLC boosted its stake in Antero Midstream Corporation (NYSE:AM) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,062,611 shares of the pipeline company’s stock after acquiring an additional 60,628 shares during the period. Exchange Traded Concepts LLC owned 0.22% of Antero Midstream worth $20,657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Antero Midstream in the 2nd quarter valued at approximately $80,504,000. Goldman Sachs Group Inc. raised its stake in shares of Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after purchasing an additional 1,400,368 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Antero Midstream during the second quarter worth $20,044,000. Cubist Systematic Strategies LLC purchased a new position in Antero Midstream in the 2nd quarter valued at $18,811,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Antero Midstream by 17.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company’s stock valued at $83,922,000 after buying an additional 697,234 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AM. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Wall Street Zen cut shares of Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Morgan Stanley raised their price objective 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. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Antero Midstream currently has an average rating of “Hold” and a consensus price target of $18.83.

Antero Midstream Stock Performance

Shares of AM opened at $17.49 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.46. Antero Midstream Corporation has a 52-week low of $14.47 and a 52-week high of $19.82. The company has a 50-day simple moving average of $17.87 and a 200-day simple moving average of $18.10. The company has a market capitalization of $8.33 billion, a PE ratio of 17.85 and a beta of 0.82.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, October 29th. The pipeline company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Antero Midstream had a net margin of 40.07% and a return on equity of 22.61%. The firm had revenue of $294.82 million for the quarter, compared to the consensus estimate of $287.30 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. Equities research analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

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

Insider Transactions at Antero Midstream

In related 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 transaction of $87,950.00. Following the completion of the transaction, the director directly owned 72,622 shares of the company’s stock, valued at approximately $1,277,420.98. The trade was a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.86% of the company’s stock.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.