Antero Midstream Co. (NYSE:AM) Shares Sold by Shah Capital Management

Shah Capital Management reduced its stake in shares of Antero Midstream Co. (NYSE:AM) by 14.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,799,646 shares of the pipeline company’s stock after selling 301,000 shares during the quarter. Antero Midstream comprises 5.8% of Shah Capital Management’s portfolio, making the stock its 7th biggest position. Shah Capital Management owned 0.38% of Antero Midstream worth $22,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Jennison Associates LLC bought a new position in shares of Antero Midstream during the 3rd quarter valued at about $11,338,000. FMR LLC boosted its stake in shares of Antero Midstream by 89.8% during the third quarter. FMR LLC now owns 960,810 shares of the pipeline company’s stock valued at $11,511,000 after purchasing an additional 454,675 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Antero Midstream by 41.3% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,238,000 shares of the pipeline company’s stock valued at $15,512,000 after purchasing an additional 362,000 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Antero Midstream during the third quarter valued at about $4,321,000. Finally, Barton Investment Management acquired a new stake in shares of Antero Midstream during the fourth quarter valued at about $4,488,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AM has been the subject of a number of analyst reports. StockNews.com downgraded Antero Midstream from a “buy” rating to a “hold” rating in a research report on Thursday. Tudor, Pickering, Holt & Co. downgraded Antero Midstream from a “buy” rating to a “hold” rating and raised their price objective for the stock from $12.00 to $13.00 in a research report on Tuesday, March 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and an average price target of $12.70.

Antero Midstream Price Performance

Shares of NYSE AM traded down $0.01 during trading hours on Monday, reaching $14.18. 1,620,042 shares of the stock traded hands, compared to its average volume of 2,679,156. The company has a market capitalization of $6.82 billion, a P/E ratio of 17.74 and a beta of 2.25. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.48. Antero Midstream Co. has a 52-week low of $10.09 and a 52-week high of $14.52. The company’s 50-day simple moving average is $13.70 and its two-hundred day simple moving average is $12.94.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Thursday, April 25th. The pipeline company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $279.05 million during the quarter, compared to the consensus estimate of $277.25 million. Antero Midstream had a return on equity of 20.82% and a net margin of 36.67%. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Equities research analysts forecast that Antero Midstream Co. will post 0.96 EPS for the current year.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.90 dividend on an annualized basis and a yield of 6.35%. Antero Midstream’s dividend payout ratio is currently 112.50%.

Insider Activity at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 16,394 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $13.67, for a total transaction of $224,105.98. Following the transaction, the insider now directly owns 170,266 shares of the company’s stock, valued at approximately $2,327,536.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by company insiders.

About Antero Midstream

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.