Michael Kennedy Sells 100,000 Shares of Antero Midstream (NYSE:AM) Stock

Antero Midstream Corporation (NYSE:AM) insider Michael Kennedy sold 100,000 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This trade represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Antero Midstream Stock Performance

Shares of AM stock opened at $21.77 on Wednesday. The stock has a market cap of $10.34 billion, a PE ratio of 25.32 and a beta of 0.68. The business has a 50-day simple moving average of $22.36 and a 200-day simple moving average of $19.72. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. Antero Midstream Corporation has a 52-week low of $16.77 and a 52-week high of $23.83.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. During the same quarter in the prior year, the firm earned $0.25 EPS. Antero Midstream’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts expect that Antero Midstream Corporation will post 1.14 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Antero Midstream’s payout ratio is currently 104.65%.

Institutional Investors Weigh In On Antero Midstream

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Antero Midstream by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock worth $723,424,000 after buying an additional 124,102 shares in the last quarter. Invesco Ltd. increased its stake in Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock worth $417,069,000 after buying an additional 776,791 shares in the last quarter. State Street Corp increased its stake in Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after buying an additional 187,912 shares in the last quarter. Geode Capital Management LLC increased its stake in Antero Midstream by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock worth $186,328,000 after buying an additional 1,161,684 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Antero Midstream by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company’s stock worth $179,316,000 after buying an additional 71,606 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AM. Wells Fargo & Company lifted their price target on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. The Goldman Sachs Group lifted their price target on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a research note on Wednesday, April 22nd. One research 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, Antero Midstream has a consensus rating of “Hold” and an average target price of $24.00.

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.