Pasadena Private Wealth LLC Invests $834,000 in Antero Midstream Corporation $AM

Pasadena Private Wealth LLC bought a new stake in Antero Midstream Corporation (NYSE:AM) during the 2nd quarter, Holdings Channel reports. The firm bought 36,650 shares of the pipeline company’s stock, valued at approximately $834,000.

Other large investors also recently made changes to their positions in the company. Clearstead Trust LLC acquired a new stake in Antero Midstream during the 2nd quarter worth approximately $30,000. Arax Advisory Partners grew its holdings in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after buying an additional 791 shares in the last quarter. Larson Financial Group LLC grew its holdings in Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares in the last quarter. Root Financial Partners LLC grew its holdings in 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 buying an additional 537 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares during the period. Institutional investors own 53.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Sheri Pearce sold 16,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares of the company’s stock, valued at $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the sale, the director owned 68,204 shares in the company, valued at $1,450,699.08. The trade was a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Antero Midstream Trading Down 1.2%

Shares of NYSE:AM opened at $22.43 on Thursday. The company has a market capitalization of $10.64 billion, a P/E ratio of 26.70 and a beta of 0.65. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50 day simple moving average is $22.19 and its 200 day simple moving average is $21.90.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The firm had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.29 EPS. On average, research analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is 107.14%.

Analyst Ratings Changes

A number of research firms have recently weighed in on AM. The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a report on Tuesday, July 14th. Weiss Ratings downgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. Morgan Stanley raised shares of 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. Finally, Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Antero Midstream currently has an average rating of “Hold” and a consensus price target of $24.50.

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.