Gateway Wealth Partners LLC Makes New Investment in Antero Midstream Corporation $AM

Gateway Wealth Partners LLC purchased a new position in Antero Midstream Corporation (NYSE:AM) during the first quarter, Holdings Channel reports. The fund purchased 28,489 shares of the pipeline company’s stock, valued at approximately $650,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its position in Antero Midstream by 0.8% in the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock worth $3,256,000 after acquiring an additional 1,371 shares in the last quarter. AQR Capital Management LLC increased its stake in Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock valued at $1,508,000 after acquiring an additional 53,281 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after purchasing an additional 1,400,368 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Antero Midstream by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock valued at $17,029,000 after purchasing an additional 43,335 shares in the last quarter. Finally, M&T Bank Corp lifted its stake in Antero Midstream by 5.9% during the second quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock worth $344,000 after purchasing an additional 1,009 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insiders Place Their Bets

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the transaction, the insider directly owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This trade represents a 6.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings cut Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Antero Midstream currently has an average rating of “Hold” and an average price target of $24.25.

Antero Midstream Price Performance

AM opened at $21.56 on Friday. The stock’s 50 day simple moving average is $22.03 and its 200 day simple moving average is $21.54. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 25.67 and a beta of 0.64.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The company had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.07%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.25 EPS. As a group, analysts predict that Antero Midstream Corporation will post 1.1 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s payout ratio is presently 104.65%.

About Antero Midstream

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.