Truist Financial Corp Has $209,000 Stake in Antero Midstream Co. (NYSE:AM)

Truist Financial Corp lowered its holdings in Antero Midstream Co. (NYSE:AM) by 87.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,188 shares of the pipeline company’s stock after selling 102,473 shares during the quarter. Truist Financial Corp’s holdings in Antero Midstream were worth $209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Millennium Management LLC raised its stake in shares of Antero Midstream by 314.6% in the second quarter. Millennium Management LLC now owns 1,862,900 shares of the pipeline company’s stock worth $27,459,000 after purchasing an additional 1,413,606 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Antero Midstream by 46.6% during 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 boosted its position in Antero Midstream by 30.7% in the first quarter. Kayne Anderson Capital Advisors LP now owns 2,959,243 shares of the pipeline company’s stock worth $41,607,000 after purchasing an additional 694,243 shares during the last quarter. SIR Capital Management L.P. purchased a new position in shares of Antero Midstream in the 2nd quarter worth about $8,251,000. Finally, Goldman Sachs Group Inc. grew its position in Antero Midstream by 50.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,513,473 shares of the pipeline company’s stock valued at $18,964,000 after buying an additional 507,577 shares during the period. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

Antero Midstream stock opened at $15.15 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.89 and a quick ratio of 0.89. Antero Midstream Co. has a one year low of $11.58 and a one year high of $15.87. The firm has a market capitalization of $7.29 billion, a P/E ratio of 18.94 and a beta of 2.34. The business has a fifty day moving average price of $14.88 and a 200-day moving average price of $14.57.

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

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.94%. The ex-dividend date of this dividend is Wednesday, October 23rd. Antero Midstream’s payout ratio is 112.50%.

Insiders Place Their Bets

In related 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 transaction of $343,127.62. Following the transaction, the insider now directly owns 130,349 shares of the company’s stock, valued at approximately $1,901,791.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AM has been the topic of several research reports. Morgan Stanley lifted 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.

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.