Shah Capital Management Has $11.11 Million Position in Antero Midstream Corporation $AM

Shah Capital Management decreased its stake in Antero Midstream Corporation (NYSE:AM) by 23.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 586,000 shares of the pipeline company’s stock after selling 179,565 shares during the period. Antero Midstream comprises 2.2% of Shah Capital Management’s holdings, making the stock its 8th largest position. Shah Capital Management’s holdings in Antero Midstream were worth $11,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AM. Invesco Ltd. increased its stake in shares of Antero Midstream by 2.0% in the 1st quarter. Invesco Ltd. now owns 30,631,765 shares of the pipeline company’s stock valued at $551,372,000 after acquiring an additional 586,966 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Antero Midstream by 31.7% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company’s stock valued at $167,614,000 after purchasing an additional 2,242,283 shares during the period. Dimensional Fund Advisors LP increased its stake in Antero Midstream by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company’s stock valued at $164,653,000 after purchasing an additional 34,596 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Antero Midstream by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 5,991,546 shares of the pipeline company’s stock valued at $107,848,000 after purchasing an additional 295,432 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Antero Midstream by 17.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company’s stock worth $83,922,000 after purchasing an additional 697,234 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Trading Down 0.1%

AM opened at $19.08 on Tuesday. The stock has a market capitalization of $9.13 billion, a P/E ratio of 20.08 and a beta of 0.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a 12 month low of $14.22 and a 12 month high of $19.82. The firm’s fifty day simple moving average is $18.35 and its 200 day simple moving average is $17.98.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. As a group, research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Wednesday, July 23rd. Antero Midstream’s dividend payout ratio (DPR) is currently 94.74%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AM. Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a report on Saturday, September 27th. Wells Fargo & Company lifted their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. The Goldman Sachs Group boosted their target price on Antero Midstream from $15.50 to $17.50 and gave the company a “neutral” rating in a research note on Monday, August 18th. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. Finally, Wall Street Zen upgraded Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the transaction, the insider owned 106,489 shares of the company’s stock, valued at $1,864,622.39. This represents a 26.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.86% of the company’s stock.

Antero Midstream 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.