Phocas Financial Corp. Boosts Stake in Antero Midstream Corporation $AM

Phocas Financial Corp. increased its position in Antero Midstream Corporation (NYSE:AM) by 36.9% in the second quarter, HoldingsChannel reports. The firm owned 358,678 shares of the pipeline company’s stock after purchasing an additional 96,743 shares during the quarter. Phocas Financial Corp.’s holdings in Antero Midstream were worth $6,797,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Antero Midstream during the first quarter valued at approximately $529,000. US Bancorp DE increased its position in Antero Midstream by 1.6% during the 2nd quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock valued at $722,000 after buying an additional 610 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in Antero Midstream during the first quarter valued at $306,000. Amundi raised its stake in Antero Midstream by 3,121.9% during the first quarter. Amundi now owns 125,913 shares of the pipeline company’s stock valued at $2,263,000 after buying an additional 122,005 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Antero Midstream by 12.3% in the first quarter. Envestnet Asset Management Inc. now owns 553,317 shares of the pipeline company’s stock worth $9,960,000 after acquiring an additional 60,582 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Stock Performance

AM stock opened at $17.25 on Thursday. 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 Corporation has a 1 year low of $14.22 and a 1 year high of $19.82. The company has a market cap of $8.21 billion, a P/E ratio of 17.60 and a beta of 0.88. The stock’s fifty day moving average price is $18.36 and its 200-day moving average price is $18.12.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, October 29th. The pipeline company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $294.82 million during the quarter, compared to the consensus estimate of $287.30 million. Antero Midstream had a net margin of 40.07% and a return on equity of 22.53%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. On average, equities analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.2%. The ex-dividend date was Wednesday, October 22nd. Antero Midstream’s payout ratio is 91.84%.

Wall Street Analyst Weigh In

AM has been the subject of several recent analyst reports. Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Zacks Research downgraded shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Morgan Stanley raised their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group upped their price objective on Antero Midstream from $15.50 to $17.50 and gave the company a “neutral” rating in a research report on Monday, August 18th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.50.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the transaction, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.

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.