Oppenheimer & Co. Inc. Has $2.67 Million Stock Position in Antero Midstream Corporation $AM

Oppenheimer & Co. Inc. reduced its position in Antero Midstream Corporation (NYSE:AM) by 70.3% in the 4th quarter, HoldingsChannel reports. The firm owned 150,012 shares of the pipeline company’s stock after selling 354,743 shares during the period. Oppenheimer & Co. Inc.’s holdings in Antero Midstream were worth $2,669,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Antero Midstream by 22.3% in 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 during the period. American Century Companies Inc. boosted its holdings in shares of Antero Midstream by 21.0% in the third quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock worth $59,913,000 after acquiring an additional 535,245 shares during the period. Chickasaw Capital Management LLC boosted its stake in Antero Midstream by 11.7% during the fourth quarter. Chickasaw Capital Management LLC now owns 1,409,183 shares of the pipeline company’s stock valued at $25,069,000 after buying an additional 147,250 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Antero Midstream during the third quarter valued at $2,676,000. Finally, Envestnet Asset Management Inc. boosted its stake in Antero Midstream by 20.7% during the third quarter. Envestnet Asset Management Inc. now owns 779,641 shares of the pipeline company’s stock valued at $15,156,000 after buying an additional 133,737 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the sale, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the sale, the director owned 69,680 shares in the company, valued at $1,613,788.80. The trade was a 6.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 213,269 shares of company stock worth $4,713,681. Company insiders own 0.86% of the company’s stock.

Antero Midstream Trading Up 1.3%

NYSE AM opened at $21.99 on Tuesday. The stock’s 50-day simple moving average is $22.36 and its two-hundred day simple moving average is $19.70. Antero Midstream Corporation has a twelve month low of $16.77 and a twelve month high of $23.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $10.44 billion, a price-to-earnings ratio of 25.57 and a beta of 0.68.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The firm had revenue of $314.21 million for the quarter, compared to analysts’ expectations of $311.30 million. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. Research analysts forecast that Antero Midstream Corporation will post 1.13 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.1%. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Analyst Upgrades and Downgrades

AM has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group lifted their price objective on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. UBS Group lifted their price objective on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Finally, Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.00.

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.