State of Alaska Department of Revenue Decreases Holdings in Antero Midstream Corporation $AM

State of Alaska Department of Revenue lessened its stake in shares of Antero Midstream Corporation (NYSE:AM) by 68.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,475 shares of the pipeline company’s stock after selling 131,092 shares during the quarter. State of Alaska Department of Revenue’s holdings in Antero Midstream were worth $1,075,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Burney Co. increased its holdings in Antero Midstream by 29.4% during the fourth quarter. Burney Co. now owns 13,200 shares of the pipeline company’s stock worth $235,000 after buying an additional 3,000 shares during the last quarter. Choreo LLC increased its holdings in Antero Midstream by 5.0% during the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock worth $253,000 after buying an additional 679 shares during the last quarter. Apollon Wealth Management LLC increased its holdings in Antero Midstream by 20.0% during the fourth quarter. Apollon Wealth Management LLC now owns 55,595 shares of the pipeline company’s stock worth $989,000 after buying an additional 9,270 shares during the last quarter. Capital Advisors Inc. OK increased its holdings in Antero Midstream by 39.4% during the fourth quarter. Capital Advisors Inc. OK now owns 19,521 shares of the pipeline company’s stock worth $347,000 after buying an additional 5,521 shares during the last quarter. Finally, Silver Oak Securities Incorporated increased its holdings in Antero Midstream by 22.7% during the fourth quarter. Silver Oak Securities Incorporated now owns 69,183 shares of the pipeline company’s stock worth $1,236,000 after buying an additional 12,818 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

AM opened at $20.65 on Wednesday. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 24.01 and a beta of 0.75. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. The firm has a 50-day moving average price of $22.29 and a 200-day moving average price of $19.56. Antero Midstream Corporation has a twelve month low of $16.24 and a twelve month high of $23.83.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, February 11th. The pipeline company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). The business had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.Antero Midstream’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. Equities analysts expect that Antero Midstream Corporation will post 1.14 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.4%. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Insider Transactions at Antero Midstream

In other news, insider Sheri Pearce sold 14,000 shares of Antero Midstream stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the completion of the transaction, the insider owned 99,900 shares in the company, valued at $2,273,724. This trade represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the transaction, the director owned 69,680 shares of the company’s stock, valued at $1,613,788.80. The trade was a 6.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,000 shares of company stock worth $1,004,690 over the last quarter. Corporate insiders own 0.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AM shares. UBS Group raised their price objective on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, March 25th. Weiss Ratings upgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. The Goldman Sachs Group lifted their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Zacks Research downgraded shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Antero Midstream currently has an average rating of “Hold” and a consensus price target of $22.50.

Antero Midstream Company Profile

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.