Exchange Traded Concepts LLC Sells 261,651 Shares of Antero Midstream Corporation $AM

Exchange Traded Concepts LLC reduced its stake in Antero Midstream Corporation (NYSE:AM) by 24.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 800,960 shares of the pipeline company’s stock after selling 261,651 shares during the period. Exchange Traded Concepts LLC owned 0.17% of Antero Midstream worth $14,249,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Antero Midstream by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock worth $152,574,000 after acquiring an additional 1,430,138 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Antero Midstream by 40.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock valued at $9,812,000 after acquiring an additional 146,300 shares in the last quarter. American Century Companies Inc. boosted its stake in Antero Midstream by 21.0% in the 3rd quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock worth $59,913,000 after purchasing an additional 535,245 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in Antero Midstream during the 3rd quarter worth about $2,676,000. Finally, Envestnet Asset Management Inc. increased its holdings in Antero Midstream by 20.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 779,641 shares of the pipeline company’s stock worth $15,156,000 after purchasing an additional 133,737 shares in the last quarter. 53.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AM. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. UBS Group upped their target price on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday. The Goldman Sachs Group increased their price target on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company upped their price objective on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.50.

Antero Midstream Stock Down 1.4%

Antero Midstream stock opened at $23.21 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. The company’s 50-day moving average is $21.20 and its 200-day moving average is $19.19. The firm has a market capitalization of $10.98 billion, a PE ratio of 26.99 and a beta of 0.77. Antero Midstream Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $23.83.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The company had revenue of $297.00 million during the quarter, compared to the consensus estimate of $292.46 million. During the same period in the previous year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, January 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Insider Activity at Antero Midstream

In related news, insider Yvette K. Schultz sold 25,000 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.81, for a total value of $570,250.00. Following the transaction, the insider directly owned 649,834 shares in the company, valued at approximately $14,822,713.54. This represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the transaction, the director directly owned 69,680 shares in the company, valued at approximately $1,613,788.80. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 44,000 shares of company stock worth $1,004,690 in the last ninety days. 0.86% of the stock is owned by company insiders.

Antero Midstream 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.