Antero Midstream Co. (NYSE:AM) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in Antero Midstream Co. (NYSE:AM) by 4.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 382,743 shares of the pipeline company’s stock after selling 17,172 shares during the quarter. Corebridge Financial Inc.’s holdings in Antero Midstream were worth $5,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Guild Investment Management Inc. acquired a new position in Antero Midstream during the fourth quarter worth $1,883,000. JPMorgan Chase & Co. boosted its position in shares of Antero Midstream by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,906,052 shares of the pipeline company’s stock valued at $28,686,000 after acquiring an additional 203,967 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Antero Midstream in the fourth quarter valued at about $226,000. Empowered Funds LLC increased its position in Antero Midstream by 4.3% during the fourth quarter. Empowered Funds LLC now owns 42,139 shares of the pipeline company’s stock worth $636,000 after purchasing an additional 1,751 shares during the last quarter. Finally, Columbus Macro LLC purchased a new position in Antero Midstream during the fourth quarter worth about $6,977,000. 53.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AM. StockNews.com cut shares of Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Wells Fargo & Company increased their price objective on Antero Midstream from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th.

Antero Midstream Stock Up 0.2 %

Shares of AM opened at $17.95 on Friday. The company’s 50-day moving average price is $16.69 and its 200 day moving average price is $15.76. Antero Midstream Co. has a 12-month low of $13.12 and a 12-month high of $18.30. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.47. The firm has a market cap of $8.59 billion, a P/E ratio of 21.62 and a beta of 2.33.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, February 12th. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Antero Midstream had a net margin of 36.24% and a return on equity of 18.82%. On average, sell-side analysts forecast that Antero Midstream Co. will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Wednesday, January 29th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend was Wednesday, January 29th. Antero Midstream’s payout ratio is 108.43%.

Antero Midstream Company Profile

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.