CIBC Private Wealth Group LLC Cuts Stock Position in Antero Midstream Corporation $AM

CIBC Private Wealth Group LLC trimmed its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 74.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,671 shares of the pipeline company’s stock after selling 232,961 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Antero Midstream were worth $1,568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new stake in Antero Midstream in the 3rd quarter valued at $13,642,000. Fulcrum Asset Management LLP acquired a new position in Antero Midstream during the third quarter worth $103,000. Hancock Whitney Corp lifted its holdings in Antero Midstream by 5.0% during the third quarter. Hancock Whitney Corp now owns 114,366 shares of the pipeline company’s stock valued at $2,223,000 after purchasing an additional 5,401 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Antero Midstream by 55.8% during the third quarter. Kestra Private Wealth Services LLC now owns 104,893 shares of the pipeline company’s stock valued at $2,039,000 after purchasing an additional 37,573 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Antero Midstream by 4.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 441,636 shares of the pipeline company’s stock valued at $8,597,000 after purchasing an additional 17,111 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the transaction, the insider directly owned 99,900 shares in the company, valued at $2,273,724. The trade was a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the sale, the director owned 69,680 shares of the company’s stock, valued at $1,613,788.80. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,000 shares of company stock valued at $1,004,690 in the last ninety days. 0.86% of the stock is currently owned by corporate insiders.

Antero Midstream Price Performance

Antero Midstream stock opened at $22.65 on Monday. The company has a fifty day simple moving average of $20.65 and a 200-day simple moving average of $19.01. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 26.33 and a beta of 0.77. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. Antero Midstream Corporation has a 52-week low of $15.07 and a 52-week high of $23.35.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. On average, equities 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, February 11th. Shareholders of record on Wednesday, January 28th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, January 28th. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Wells Fargo & Company lifted their price objective on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. Finally, Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Antero Midstream has an average rating of “Hold” and an average price target of $22.00.

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.