Hsbc Holdings PLC Grows Holdings in Antero Midstream Corporation $AM

Hsbc Holdings PLC lifted its stake in shares of Antero Midstream Corporation (NYSE:AM) by 172.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,271 shares of the pipeline company’s stock after buying an additional 102,671 shares during the quarter. Hsbc Holdings PLC’s holdings in Antero Midstream were worth $3,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 708 shares during the last quarter. Arax Advisory Partners increased 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 during the last quarter. Northwestern Mutual Wealth Management Co. increased 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 during the last quarter. Root Financial Partners LLC raised its stake in shares of Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after purchasing an additional 537 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake 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 valued at $53,000 after purchasing an additional 2,224 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling

In other news, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the sale, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the sale, the insider directly owned 580,565 shares in the company, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Antero Midstream Stock Down 1.2%

AM stock opened at $22.75 on Friday. 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 $16.77 and a 1-year high of $23.83. The firm has a fifty day moving average price of $22.07 and a two-hundred day moving average price of $21.38. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 26.45 and a beta of 0.64.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts predict that Antero Midstream Corporation will post 1.1 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. Antero Midstream’s dividend payout ratio (DPR) is currently 104.65%.

Analysts Set New Price Targets

Several brokerages have recently commented on AM. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Finally, Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a research report on Wednesday, April 22nd. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Antero Midstream currently has an average rating of “Hold” and a consensus target price of $24.25.

Antero Midstream 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.