ProShare Advisors LLC Decreases Stake in Antero Midstream Co. (NYSE:AM)

ProShare Advisors LLC cut its holdings in Antero Midstream Co. (NYSE:AM) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,269 shares of the pipeline company’s stock after selling 3,462 shares during the quarter. ProShare Advisors LLC’s holdings in Antero Midstream were worth $623,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AM. Wells Fargo & Company MN grew its holdings in Antero Midstream by 4.7% in the fourth quarter. Wells Fargo & Company MN now owns 735,675 shares of the pipeline company’s stock valued at $9,218,000 after purchasing an additional 33,291 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Antero Midstream by 143.5% in the 4th quarter. Franklin Resources Inc. now owns 175,631 shares of the pipeline company’s stock worth $2,201,000 after buying an additional 103,516 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Antero Midstream by 3.3% in the 4th quarter. Advisory Services Network LLC now owns 27,047 shares of the pipeline company’s stock worth $339,000 after buying an additional 871 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Antero Midstream by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 150,363 shares of the pipeline company’s stock worth $1,884,000 after buying an additional 1,470 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its position in shares of Antero Midstream by 46,665.4% in the 4th quarter. TFO Wealth Partners LLC now owns 12,159 shares of the pipeline company’s stock worth $152,000 after buying an additional 12,133 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AM. Morgan Stanley boosted their price objective on shares of Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 27th. StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.88.

Insider Transactions at Antero Midstream

In other news, insider Sheri Pearce sold 23,518 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $14.59, for a total transaction of $343,127.62. Following 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Antero Midstream Price Performance

NYSE:AM opened at $15.01 on Monday. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 18.76 and a beta of 2.34. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.50. The company’s 50-day moving average is $14.52 and its two-hundred day moving average is $14.40. Antero Midstream Co. has a 12-month low of $11.50 and a 12-month high of $15.30.

Antero Midstream (NYSE:AM) last released its 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 net margin of 36.19% and a return on equity of 19.40%. Antero Midstream’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. Research analysts expect 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. Stockholders of record on Wednesday, July 24th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 24th. This represents a $0.90 annualized dividend and a dividend yield of 6.00%. Antero Midstream’s payout ratio is currently 112.50%.

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.