Kayne Anderson Capital Advisors LP Decreases Stake in Antero Midstream Corporation (NYSE:AM)

Kayne Anderson Capital Advisors LP lowered its stake in Antero Midstream Corporation (NYSE:AM) by 0.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,943,624 shares of the pipeline company’s stock after selling 4,767 shares during the period. Antero Midstream makes up 1.2% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 18th largest position. Kayne Anderson Capital Advisors LP’s holdings in Antero Midstream were worth $52,985,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in AM. Allspring Global Investments Holdings LLC purchased a new position in shares of Antero Midstream during the first quarter worth $529,000. Sequoia Financial Advisors LLC raised its holdings in shares of Antero Midstream by 6.5% during the first quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company’s stock worth $289,000 after purchasing an additional 975 shares during the last quarter. Silver Oak Securities Incorporated purchased a new position in Antero Midstream in the first quarter valued at $459,000. Diversified Trust Co purchased a new position in Antero Midstream in the first quarter valued at $495,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Antero Midstream by 102.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company’s stock valued at $852,000 after buying an additional 23,922 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

Shares of AM stock opened at $17.60 on Monday. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.42. The firm’s 50-day moving average is $18.36 and its two-hundred day moving average is $17.27. Antero Midstream Corporation has a 12 month low of $13.12 and a 12 month high of $19.09. The company has a market capitalization of $8.43 billion, a PE ratio of 20.14 and a beta of 1.01.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Antero Midstream had a net margin of 37.35% and a return on equity of 19.75%. The company had revenue of $291.13 million during the quarter, compared to analysts’ expectations of $277.79 million. During the same quarter in the previous year, the business posted $0.21 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a $0.225 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $0.90 annualized dividend and a yield of 5.11%. Antero Midstream’s dividend payout ratio (DPR) is 103.45%.

Insider Buying and Selling

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the sale, the director owned 73,645 shares in the company, valued at approximately $1,390,417.60. This trade represents a 6.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $17.00 target price (up from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd.

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.