SIR Capital Management L.P. Buys New Position in Antero Midstream Corporation $AM

SIR Capital Management L.P. bought a new position in shares of Antero Midstream Corporation (NYSE:AM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 467,598 shares of the pipeline company’s stock, valued at approximately $10,638,000. Antero Midstream accounts for about 1.2% of SIR Capital Management L.P.’s investment portfolio, making the stock its 28th largest position.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Antero Midstream in the second quarter worth approximately $869,045,000. Bank of New York Mellon Corp bought a new position in shares of Antero Midstream during the 2nd quarter worth approximately $157,371,000. Norges Bank acquired a new stake in shares of Antero Midstream during the 4th quarter worth approximately $66,998,000. Kayne Anderson Capital Advisors LP acquired a new stake in shares of Antero Midstream during the 2nd quarter worth approximately $49,883,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Antero Midstream in the 2nd quarter valued at $46,007,000. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Wells Fargo & Company lifted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.50.

Antero Midstream Stock Down 0.0%

Shares of NYSE:AM opened at $22.14 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The business’s 50 day simple moving average is $22.24 and its two-hundred day simple moving average is $21.97. The firm has a market cap of $10.51 billion, a P/E ratio of 26.35 and a beta of 0.65.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The firm had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.1%. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Insiders Place Their Bets

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

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.