QRG Capital Management Inc. Decreases Position in Antero Midstream Corporation $AM

QRG Capital Management Inc. trimmed its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 78.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,135 shares of the pipeline company’s stock after selling 89,104 shares during the period. QRG Capital Management Inc.’s holdings in Antero Midstream were worth $469,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AM. Norges Bank bought a new stake in shares of Antero Midstream in the 2nd quarter valued at about $80,504,000. Goldman Sachs Group Inc. increased its stake in Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after purchasing an additional 1,400,368 shares during the period. Qube Research & Technologies Ltd bought a new stake in Antero Midstream in the second quarter valued at approximately $20,044,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Antero Midstream during the second quarter valued at approximately $18,811,000. Finally, Boston Trust Walden Corp boosted its stake in shares of Antero Midstream by 24.4% during the second quarter. Boston Trust Walden Corp now owns 3,543,536 shares of the pipeline company’s stock valued at $67,150,000 after purchasing an additional 695,233 shares during the period. 53.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the transaction, the director directly owned 72,622 shares in the company, valued at $1,277,420.98. This trade represents a 6.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

AM has been the topic of several analyst reports. Zacks Research raised shares of Antero Midstream from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 2nd. Wells Fargo & Company raised their price target on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 23rd. Weiss Ratings restated a “buy (b+)” rating on shares of Antero Midstream in a research report on Monday, December 29th. Morgan Stanley increased their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen cut Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.17.

Antero Midstream Price Performance

Shares of NYSE AM opened at $18.78 on Friday. Antero Midstream Corporation has a 1 year low of $15.07 and a 1 year high of $19.82. The company’s 50-day moving average is $17.89 and its 200 day moving average is $18.01. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $8.94 billion, a P/E ratio of 19.16 and a beta of 0.80.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, October 29th. The pipeline company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. The company had revenue of $294.82 million during the quarter, compared to analysts’ expectations of $287.30 million. Antero Midstream had a return on equity of 22.61% and a net margin of 40.07%.The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, sell-side analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th will be given a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.8%. Antero Midstream’s dividend payout ratio is currently 91.84%.

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.