Friedenthal Financial Acquires New Position in Antero Midstream Corporation $AM

Friedenthal Financial acquired a new stake in shares of Antero Midstream Corporation (NYSE:AM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 48,658 shares of the pipeline company’s stock, valued at approximately $922,000.

A number of other hedge funds also recently made changes to their positions in AM. Wealth Enhancement Advisory Services LLC grew its stake in shares of Antero Midstream by 7.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,434 shares of the pipeline company’s stock valued at $354,000 after acquiring an additional 1,660 shares during the period. GAMMA Investing LLC grew its stake in shares of Antero Midstream by 2,311.6% during the 1st quarter. GAMMA Investing LLC now owns 153,666 shares of the pipeline company’s stock valued at $2,766,000 after acquiring an additional 147,294 shares during the period. Wedmont Private Capital grew its stake in shares of Antero Midstream by 31.3% during the 1st quarter. Wedmont Private Capital now owns 30,727 shares of the pipeline company’s stock valued at $553,000 after acquiring an additional 7,329 shares during the period. UMB Bank n.a. grew its stake in shares of Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company’s stock valued at $62,000 after acquiring an additional 2,188 shares during the period. Finally, Park Avenue Securities LLC bought a new position in shares of Antero Midstream during the 1st quarter valued at approximately $187,000. 53.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the sale, the insider owned 106,489 shares in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company boosted their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a report on Saturday, September 27th. Morgan Stanley boosted their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, Wall Street Zen raised Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.50.

Antero Midstream Stock Up 0.3%

Shares of AM opened at $19.13 on Wednesday. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of 20.13 and a beta of 0.85. Antero Midstream Corporation has a 1 year low of $14.22 and a 1 year high of $19.82. The business’s 50 day simple moving average is $18.39 and its 200-day simple moving average is $17.99. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $305.47 million for the quarter, compared to analysts’ expectations of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. As a group, equities analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

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.