Freestone Grove Partners LP Invests $15.89 Million in Antero Midstream Corporation $AM

Freestone Grove Partners LP bought a new stake in shares of Antero Midstream Corporation (NYSE:AM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 698,696 shares of the pipeline company’s stock, valued at approximately $15,895,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Antero Midstream in the second quarter worth $869,045,000. Invesco Ltd. lifted its stake in Antero Midstream by 3.4% in the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock worth $417,069,000 after purchasing an additional 776,791 shares in the last quarter. State Street Corp boosted its holdings in shares of Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock valued at $201,691,000 after purchasing an additional 187,912 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Antero Midstream by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after purchasing an additional 1,161,684 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Antero Midstream by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock worth $208,148,000 after purchasing an additional 920,948 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on AM shares. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Antero Midstream has a consensus rating of “Hold” and a consensus price target of $24.50.

Antero Midstream Price Performance

Shares of AM stock opened at $22.52 on Friday. The stock has a 50 day moving average price of $22.29 and a 200 day moving average price of $22.04. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $10.69 billion, a P/E ratio of 26.81 and a beta of 0.65.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.27. The business 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 business’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. As a group, sell-side analysts predict that Antero Midstream Corporation will post 1.09 earnings per share for the current 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 given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. Antero Midstream’s dividend payout ratio (DPR) is 107.14%.

Insider Buying and Selling

In related news, insider Sheri Pearce sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares in the company, valued at approximately $1,846,639. The trade was a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the transaction, the director directly owned 68,204 shares in the company, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

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.