Principal Financial Group Inc. Sells 145,335 Shares of Antero Midstream Co. (NYSE:AM)

Principal Financial Group Inc. reduced its position in shares of Antero Midstream Co. (NYSE:AM) by 11.3% during the second quarter, Holdings Channel reports. The firm owned 1,139,215 shares of the pipeline company’s stock after selling 145,335 shares during the period. Principal Financial Group Inc.’s holdings in Antero Midstream were worth $16,792,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AM. Atria Wealth Solutions Inc. boosted its position in Antero Midstream by 3.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,708 shares of the pipeline company’s stock worth $347,000 after purchasing an additional 1,042 shares during the last quarter. Van ECK Associates Corp grew its position in Antero Midstream by 7.5% during the fourth quarter. Van ECK Associates Corp now owns 101,853 shares of the pipeline company’s stock valued at $1,276,000 after buying an additional 7,131 shares during the period. Victory Capital Management Inc. increased its holdings in Antero Midstream by 20.2% during the fourth quarter. Victory Capital Management Inc. now owns 83,082 shares of the pipeline company’s stock worth $1,041,000 after buying an additional 13,962 shares during the last quarter. New York Life Investment Management LLC bought a new stake in Antero Midstream in the fourth quarter worth about $445,000. Finally, Natixis Advisors L.P. raised its holdings in shares of Antero Midstream by 6.9% in the 4th quarter. Natixis Advisors L.P. now owns 49,165 shares of the pipeline company’s stock worth $616,000 after purchasing an additional 3,180 shares during the period. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Stock Performance

Shares of AM opened at $14.42 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $6.94 billion, a price-to-earnings ratio of 18.03 and a beta of 2.38. Antero Midstream Co. has a 52-week low of $11.50 and a 52-week high of $15.21. The stock’s 50-day simple moving average is $14.52 and its 200 day simple moving average is $14.22.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The firm had revenue of $269.70 million during the quarter, compared to analysts’ expectations of $274.66 million. Antero Midstream had a return on equity of 19.40% and a net margin of 36.19%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 earnings per share. Research analysts forecast that Antero Midstream Co. will post 0.85 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.24%. Antero Midstream’s dividend payout ratio (DPR) is currently 112.50%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com cut Antero Midstream from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Morgan Stanley upped their price target on shares of Antero Midstream from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.88.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 23,518 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total value of $343,127.62. Following the sale, the insider now owns 130,349 shares of the company’s stock, valued at approximately $1,901,791.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Antero Midstream 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.