Principal Financial Group Inc. Cuts Position in Antero Midstream Co. (NYSE:AM)

Principal Financial Group Inc. trimmed its holdings in shares of Antero Midstream Co. (NYSE:AM) by 31.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 782,787 shares of the pipeline company’s stock after selling 356,428 shares during the period. Principal Financial Group Inc.’s holdings in Antero Midstream were worth $11,781,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC grew its position in Antero Midstream by 314.6% during the 2nd quarter. Millennium Management LLC now owns 1,862,900 shares of the pipeline company’s stock valued at $27,459,000 after purchasing an additional 1,413,606 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Antero Midstream by 46.6% during the first quarter. Westwood Holdings Group Inc. now owns 3,174,399 shares of the pipeline company’s stock valued at $44,632,000 after buying an additional 1,008,515 shares during the last quarter. SIR Capital Management L.P. bought a new stake in shares of Antero Midstream during the second quarter valued at approximately $8,251,000. SG Americas Securities LLC increased its position in shares of Antero Midstream by 1,141.2% during the third quarter. SG Americas Securities LLC now owns 470,743 shares of the pipeline company’s stock valued at $7,085,000 after acquiring an additional 432,817 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Antero Midstream in the 2nd quarter worth approximately $3,883,000. 53.97% of the stock is owned by institutional investors.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $14.66, for a total value of $146,600.00. Following the completion of the sale, the director now directly owns 74,100 shares in the company, valued at $1,086,306. This represents a 11.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sheri Pearce sold 23,518 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total value 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. This represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Antero Midstream Trading Up 1.1 %

NYSE:AM opened at $15.25 on Monday. The company has a market cap of $7.34 billion, a PE ratio of 18.83 and a beta of 2.35. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.49. The company has a 50 day simple moving average of $15.06 and a two-hundred day simple moving average of $14.71. Antero Midstream Co. has a 12 month low of $11.58 and a 12 month high of $15.87.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend was Wednesday, October 23rd. Antero Midstream’s payout ratio is currently 111.11%.

Analyst Upgrades and Downgrades

Several analysts have commented on AM shares. StockNews.com downgraded Antero Midstream from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Morgan Stanley increased their price objective on Antero Midstream from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Tuesday, August 27th.

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.