Cinctive Capital Management LP Boosts Stake in Antero Midstream Corporation $AM

Cinctive Capital Management LP grew its position in shares of Antero Midstream Corporation (NYSE:AM) by 235.9% during the fourth quarter, Holdings Channel reports. The fund owned 333,639 shares of the pipeline company’s stock after purchasing an additional 234,320 shares during the period. Cinctive Capital Management LP’s holdings in Antero Midstream were worth $5,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elevation Wealth Partners LLC bought a new stake in shares of Antero Midstream in the 4th quarter worth approximately $27,000. Arax Advisory Partners boosted its position in shares of Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 791 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 2,224 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AM. 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. Wells Fargo & Company boosted their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. UBS Group boosted 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. Finally, The Goldman Sachs Group boosted 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 investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $24.00.

Antero Midstream Stock Performance

AM stock opened at $21.40 on Thursday. The stock has a market capitalization of $10.16 billion, a PE ratio of 24.88 and a beta of 0.66. Antero Midstream Corporation has a 12-month low of $16.77 and a 12-month high of $23.83. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. The stock’s 50 day simple moving average is $21.56 and its 200 day simple moving average is $20.54.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business 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 33.90% and a return on equity of 20.38%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. As a group, research analysts forecast that Antero Midstream Corporation will post 1.12 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

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

Insiders Place Their Bets

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. The trade was a 6.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the sale, the insider owned 580,565 shares of the company’s stock, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

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.