Kayne Anderson Capital Advisors LP Invests $49.88 Million in Antero Midstream Corporation $AM

Kayne Anderson Capital Advisors LP bought a new position in shares of Antero Midstream Corporation (NYSE:AM) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,192,659 shares of the pipeline company’s stock, valued at approximately $49,883,000. Antero Midstream makes up 1.0% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its holdings in shares of Antero Midstream by 41.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 733,861 shares of the pipeline company’s stock worth $13,056,000 after buying an additional 216,416 shares in the last quarter. Kesler Norman & Wride LLC purchased a new position in Antero Midstream during the fourth quarter valued at $939,000. Cetera Investment Advisers increased its holdings in Antero Midstream by 9.9% in the 1st quarter. Cetera Investment Advisers now owns 867,200 shares of the pipeline company’s stock valued at $19,772,000 after acquiring an additional 77,936 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Antero Midstream by 19.0% in the 4th quarter. BNP Paribas Financial Markets now owns 1,592,910 shares of the pipeline company’s stock valued at $28,338,000 after acquiring an additional 254,088 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in Antero Midstream in the 1st quarter worth $2,189,000. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Trading Down 0.6%

AM opened at $22.28 on Friday. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 26.52 and a beta of 0.65. The stock’s 50 day moving average price is $22.21 and its 200-day moving average price is $21.92. Antero Midstream Corporation has a one year low of $16.96 and a one year 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.

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

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th were paid a $0.225 dividend. The ex-dividend date was 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 presently 107.14%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the transaction, the director directly owned 68,204 shares in the company, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

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.