Pekin Hardy Strauss Inc. Lowers Holdings in Antero Midstream Co. (NYSE:AM)

Pekin Hardy Strauss Inc. trimmed its stake in Antero Midstream Co. (NYSE:AM) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,000 shares of the pipeline company’s stock after selling 1,000 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Antero Midstream were worth $1,017,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AM. Chickasaw Capital Management LLC boosted its stake in Antero Midstream by 3.8% in the 1st quarter. Chickasaw Capital Management LLC now owns 2,219,519 shares of the pipeline company’s stock worth $31,206,000 after purchasing an additional 81,374 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Antero Midstream by 3.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,852,300 shares of the pipeline company’s stock valued at $23,209,000 after buying an additional 57,000 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in shares of Antero Midstream during the first quarter valued at approximately $1,506,000. Clearbridge Investments LLC raised its holdings in Antero Midstream by 1.2% in the 1st quarter. Clearbridge Investments LLC now owns 7,282,393 shares of the pipeline company’s stock worth $102,390,000 after acquiring an additional 84,000 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in Antero Midstream in the 4th quarter valued at approximately $3,219,000. 53.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Sheri Pearce sold 23,518 shares of Antero Midstream stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $14.59, for a total transaction of $343,127.62. Following the transaction, the insider now owns 130,349 shares in the company, valued at approximately $1,901,791.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is currently owned by insiders.

Antero Midstream Price Performance

Shares of AM opened at $15.06 on Wednesday. The firm has a fifty day simple moving average of $14.48 and a two-hundred day simple moving average of $14.31. The firm has a market cap of $7.25 billion, a PE ratio of 18.82 and a beta of 2.34. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.50. Antero Midstream Co. has a 1-year low of $11.50 and a 1-year high of $15.21.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The firm had revenue of $269.70 million for the quarter, compared to analysts’ expectations of $274.66 million. Antero Midstream had a net margin of 36.19% and a return on equity of 19.40%. The firm’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 EPS. On average, equities analysts anticipate that Antero Midstream Co. will post 0.85 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.98%. The ex-dividend date was Wednesday, July 24th. Antero Midstream’s dividend payout ratio (DPR) is presently 112.50%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. StockNews.com lowered Antero Midstream from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Morgan Stanley lifted their price objective on Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.88.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.