AXQ Capital LP Takes Position in Antero Midstream Corporation $AM

AXQ Capital LP purchased a new position in shares of Antero Midstream Corporation (NYSE:AM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,955 shares of the pipeline company’s stock, valued at approximately $680,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its position in shares of Antero Midstream by 33.3% in the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock worth $44,000 after acquiring an additional 565 shares during the period. MAI Capital Management increased its stake in shares of Antero Midstream by 1.4% in the 2nd quarter. MAI Capital Management now owns 44,049 shares of the pipeline company’s stock valued at $835,000 after purchasing an additional 589 shares in the last quarter. State of Wyoming raised its holdings in Antero Midstream by 2.6% in the 3rd quarter. State of Wyoming now owns 29,299 shares of the pipeline company’s stock worth $570,000 after purchasing an additional 747 shares during the period. CWM LLC raised its holdings in Antero Midstream by 8.8% in the 2nd quarter. CWM LLC now owns 10,305 shares of the pipeline company’s stock worth $195,000 after purchasing an additional 833 shares during the period. Finally, Tidal Investments LLC boosted its position in Antero Midstream by 3.7% during the second quarter. Tidal Investments LLC now owns 24,113 shares of the pipeline company’s stock worth $457,000 after purchasing an additional 856 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AM shares. Wall Street Zen cut Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. The Goldman Sachs Group lifted their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.33.

Antero Midstream Trading Up 1.9%

Shares of AM stock opened at $22.11 on Wednesday. Antero Midstream Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $22.14. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41. The stock’s fifty day moving average is $18.81 and its two-hundred day moving average is $18.38. The firm has a market capitalization of $10.46 billion, a P/E ratio of 25.71 and a beta of 0.81.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The business had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 earnings per share. Research analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th were issued a $0.225 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a yield of 4.1%. Antero Midstream’s dividend payout ratio is presently 104.65%.

Insiders Place Their Bets

In other news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 72,622 shares in the company, valued at $1,277,420.98. The trade was a 6.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by company insiders.

Antero Midstream Company Profile

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.