Abich Financial Wealth Management LLC Buys Shares of 3,727 Antero Midstream Co. (NYSE:AM)

Abich Financial Wealth Management LLC purchased a new position in shares of Antero Midstream Co. (NYSE:AM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,727 shares of the pipeline company’s stock, valued at approximately $55,000.

A number of other hedge funds have also recently modified their holdings of AM. Allspring Global Investments Holdings LLC lifted its holdings in Antero Midstream by 360.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,240 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 1,753 shares in the last quarter. MCF Advisors LLC bought a new stake in Antero Midstream during the first quarter valued at about $34,000. City State Bank bought a new position in shares of Antero Midstream in the second quarter worth about $51,000. Pacifica Partners Inc. bought a new stake in Antero Midstream during the 1st quarter valued at approximately $48,000. Finally, First Horizon Advisors Inc. lifted its holdings in Antero Midstream by 24.2% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 688 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

Antero Midstream stock opened at $15.13 on Thursday. 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 $15.30. The company’s 50-day moving average price is $14.51 and its 200-day moving average price is $14.38. The company has a market cap of $7.28 billion, a PE ratio of 18.91 and a beta of 2.34.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 19.40% and a net margin of 36.19%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 earnings per share. On average, equities research analysts forecast that Antero Midstream Co. will post 0.85 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a $0.225 dividend. The ex-dividend date was Wednesday, July 24th. This represents a $0.90 dividend on an annualized basis and a yield of 5.95%. Antero Midstream’s dividend payout ratio is presently 112.50%.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 23,518 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $14.59, for a total value of $343,127.62. Following the completion of the sale, the insider now owns 130,349 shares in the company, valued at approximately $1,901,791.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Morgan Stanley lifted their target price on Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target 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.