Hsbc Holdings PLC Increases Position in Antero Midstream Corporation $AM

Hsbc Holdings PLC increased its position in shares of Antero Midstream Corporation (NYSE:AM) by 291.0% during the fourth quarter, Holdings Channel reports. The fund owned 59,600 shares of the pipeline company’s stock after acquiring an additional 44,356 shares during the quarter. Hsbc Holdings PLC’s holdings in Antero Midstream were worth $1,061,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Miller Howard Investments Inc. NY lifted its stake in shares of Antero Midstream by 2.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 1,978,405 shares of the pipeline company’s stock worth $35,196,000 after purchasing an additional 47,817 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Antero Midstream in the third quarter valued at $13,642,000. Chickasaw Capital Management LLC increased its stake in Antero Midstream by 11.7% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,409,183 shares of the pipeline company’s stock valued at $25,069,000 after purchasing an additional 147,250 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in Antero Midstream by 588.9% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 115,977 shares of the pipeline company’s stock valued at $2,063,000 after purchasing an additional 99,141 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Antero Midstream by 41.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 733,861 shares of the pipeline company’s stock valued at $13,056,000 after purchasing an additional 216,416 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insider Buying and Selling

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of Antero Midstream stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the transaction, the insider directly owned 580,565 shares of the company’s stock, valued at $12,714,373.50. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider directly owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. The trade was a 6.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on AM. UBS Group raised their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 25th. Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. Finally, Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Antero Midstream has a consensus rating of “Hold” and a consensus price target of $24.00.

Antero Midstream Price Performance

Shares of Antero Midstream stock opened at $22.48 on Tuesday. Antero Midstream Corporation has a twelve month low of $16.77 and a twelve month high of $23.83. The stock has a market capitalization of $10.68 billion, a P/E ratio of 26.14 and a beta of 0.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. The business’s fifty day moving average price is $21.84 and its 200 day moving average price is $21.10.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, research analysts anticipate that Antero Midstream Corporation will post 1.11 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.0%. Antero Midstream’s payout ratio is presently 104.65%.

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.