SIR Capital Management L.P. Purchases 389,185 Shares of Antero Midstream Corporation $AM

by · The Cerbat Gem

SIR Capital Management L.P. grew its position in Antero Midstream Corporation (NYSE:AMFree Report) by 28.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,772,534 shares of the pipeline company’s stock after purchasing an additional 389,185 shares during the period. Antero Midstream accounts for about 3.5% of SIR Capital Management L.P.’s portfolio, making the stock its 7th largest holding. SIR Capital Management L.P.’s holdings in Antero Midstream were worth $31,533,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd grew its position in shares of Antero Midstream by 35.9% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 59,225 shares of the pipeline company’s stock valued at $1,054,000 after purchasing an additional 15,631 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Antero Midstream in the fourth quarter valued at approximately $3,583,000. Federation des caisses Desjardins du Quebec grew its position in shares of Antero Midstream by 21.9% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 89,357 shares of the pipeline company’s stock valued at $1,590,000 after purchasing an additional 16,031 shares during the last quarter. Ensign Peak Advisors Inc grew its position in shares of Antero Midstream by 30.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 188,852 shares of the pipeline company’s stock valued at $3,360,000 after purchasing an additional 43,709 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Antero Midstream by 9.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 88,198 shares of the pipeline company’s stock valued at $1,569,000 after purchasing an additional 7,527 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michael N. Kennedy sold 100,000 shares of Antero Midstream stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the transaction, the insider owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This trade represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of Antero Midstream stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the transaction, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. The trade was a 10.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Antero Midstream Trading Up 1.3%

Shares of NYSE:AM opened at $21.64 on Friday. The company has a market capitalization of $10.28 billion, a P/E ratio of 25.16 and a beta of 0.66. Antero Midstream Corporation has a 1 year low of $16.77 and a 1 year high of $23.83. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50 day simple moving average is $21.64 and its 200 day simple moving average is $20.45.

Antero Midstream (NYSE:AMGet Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. On average, research analysts anticipate that Antero Midstream Corporation will post 1.12 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is currently 104.65%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. UBS Group increased their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 25th. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a research report on Wednesday, June 3rd. Finally, The Goldman Sachs Group increased their price target on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

View Our Latest Analysis on Antero Midstream

Antero Midstream Company Profile

(Free Report)

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

See Also

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