Western Wealth Management LLC Acquires New Stake in Antero Midstream Corporation $AM

Western Wealth Management LLC acquired a new stake in Antero Midstream Corporation (NYSE:AM) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 25,392 shares of the pipeline company’s stock, valued at approximately $579,000.

A number of other large investors also recently bought and sold shares of AM. Miller Howard Investments Inc. NY increased its stake in shares of Antero Midstream by 2.5% during the fourth quarter. Miller Howard Investments Inc. NY now owns 1,978,405 shares of the pipeline company’s stock worth $35,196,000 after acquiring an additional 47,817 shares during the period. Thrivent Financial for Lutherans raised its holdings in Antero Midstream by 41.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 733,861 shares of the pipeline company’s stock worth $13,056,000 after purchasing an additional 216,416 shares in the last quarter. Kesler Norman & Wride LLC acquired a new stake in Antero Midstream in the fourth quarter valued at about $939,000. BNP Paribas Financial Markets lifted its position in Antero Midstream by 19.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,592,910 shares of the pipeline company’s stock valued at $28,338,000 after purchasing an additional 254,088 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in Antero Midstream in the 1st quarter valued at approximately $2,189,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Analyst Upgrades and Downgrades

AM has been the topic of several recent analyst reports. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research report on Tuesday, July 14th. Wells Fargo & Company raised their price target on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Antero Midstream presently has an average rating of “Hold” and a consensus price target of $24.50.

Insider Activity

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the transaction, the director directly owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the sale, the insider owned 83,900 shares of the company’s stock, valued at approximately $1,846,639. The trade was a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Antero Midstream Stock Performance

Shares of AM opened at $22.57 on Friday. The company has a 50-day simple moving average of $22.13 and a 200-day simple moving average of $21.80. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $10.72 billion, a PE ratio of 26.88 and a beta of 0.65. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.0%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 107.14%.

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.