Prudential PLC Sells 90,746 Shares of Antero Midstream Co. (NYSE:AM)

Prudential PLC cut its stake in shares of Antero Midstream Co. (NYSE:AM) by 55.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 71,689 shares of the pipeline company’s stock after selling 90,746 shares during the period. Prudential PLC’s holdings in Antero Midstream were worth $1,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Antero Midstream in the 4th quarter worth about $54,704,000. Westwood Holdings Group Inc. increased its holdings in Antero Midstream by 46.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 3,174,399 shares of the pipeline company’s stock worth $44,632,000 after buying an additional 1,008,515 shares in the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in Antero Midstream by 30.7% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,959,243 shares of the pipeline company’s stock worth $41,607,000 after buying an additional 694,243 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Antero Midstream by 1,114.6% in the 4th quarter. BNP Paribas Financial Markets now owns 641,189 shares of the pipeline company’s stock worth $8,034,000 after buying an additional 588,397 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Antero Midstream by 50.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,513,473 shares of the pipeline company’s stock worth $18,964,000 after buying an additional 507,577 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Insider Activity at Antero Midstream

In related news, insider Sheri Pearce sold 23,518 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total transaction of $343,127.62. Following the completion of the transaction, the insider now directly owns 130,349 shares in the company, valued at approximately $1,901,791.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Antero Midstream Stock Up 2.2 %

AM stock opened at $14.60 on Friday. The business’s 50-day moving average price is $14.47 and its 200-day moving average price is $14.28. The stock has a market cap of $7.03 billion, a P/E ratio of 18.25 and a beta of 2.34. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.50. Antero Midstream Co. has a twelve month low of $11.50 and a twelve month high of $15.21.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data 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 company had revenue of $269.70 million for the quarter, compared to the consensus estimate of $274.66 million. Antero Midstream had a net margin of 36.19% and a return on equity of 19.40%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities research analysts forecast that Antero Midstream Co. will post 0.85 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were paid a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.16%. Antero Midstream’s dividend payout ratio (DPR) is presently 112.50%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AM. StockNews.com cut Antero Midstream from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Morgan Stanley raised their target price on Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $13.88.

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.