Bessemer Group Inc. Reduces Stock Position in Antero Midstream Corporation $AM

Bessemer Group Inc. reduced its stake in Antero Midstream Corporation (NYSE:AM) by 91.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,112 shares of the pipeline company’s stock after selling 166,796 shares during the period. Bessemer Group Inc.’s holdings in Antero Midstream were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Larson Financial Group LLC grew its holdings in Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares in the last quarter. Arax Advisory Partners lifted its holdings in shares of Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after buying an additional 791 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares in the last quarter. Root Financial Partners LLC boosted its position in shares of Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of Antero Midstream by 401.4% in the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after acquiring an additional 2,224 shares during the period. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Yvette K. Schultz sold 69,269 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the transaction, the insider directly owned 580,565 shares in the company, valued at approximately $12,714,373.50. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by corporate insiders.

Antero Midstream Stock Performance

Shares of AM opened at $22.75 on Friday. The company has a market cap of $10.80 billion, a PE ratio of 26.45 and a beta of 0.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. The stock has a 50-day moving average price of $22.07 and a 200-day moving average price of $21.38. Antero Midstream Corporation has a 12-month low of $16.77 and a 12-month high of $23.83.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. As a group, equities analysts forecast that Antero Midstream Corporation will post 1.1 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. Antero Midstream’s dividend payout ratio is presently 104.65%.

Analyst Ratings Changes

A number of research firms recently weighed in on AM. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a report on Tuesday, July 14th. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a report on Wednesday, April 22nd. Finally, Weiss Ratings lowered shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $24.25.

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.