QRG Capital Management Inc. Sells 89,104 Shares of Antero Midstream Corporation $AM

QRG Capital Management Inc. lessened its stake in shares of Antero Midstream Corporation (NYSE:AM) by 78.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 large investors have also added to or reduced their stakes in the stock. Richardson Financial Services Inc. grew its stake in shares of Antero Midstream by 330.2% in the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 994 shares during the last quarter. Quent Capital LLC bought a new position in Antero Midstream in the 3rd quarter worth about $28,000. Global Retirement Partners LLC grew its position in Antero Midstream by 33.3% during the 3rd quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 565 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Antero Midstream by 58.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 2,700 shares of the pipeline company’s stock valued at $51,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Antero Midstream by 401.4% in the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after buying an additional 2,224 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total transaction of $87,950.00. Following the transaction, the director 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 SEC, which is available through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AM shares. Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Zacks Research raised Antero Midstream from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 2nd. Morgan Stanley lifted their target price on Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Wells Fargo & Company increased their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 23rd. Finally, Wall Street Zen downgraded Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Antero Midstream presently has a consensus rating of “Hold” and an average target price of $19.17.

Antero Midstream Trading Up 1.0%

Shares of NYSE:AM opened at $18.78 on Friday. The stock’s 50-day simple moving average is $17.89 and its two-hundred day simple moving average is $18.01. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 19.16 and a beta of 0.80. Antero Midstream Corporation has a 52-week low of $15.07 and a 52-week high of $19.82. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The firm had revenue of $294.82 million for the quarter, compared to analysts’ expectations of $287.30 million. Antero Midstream had a net margin of 40.07% and a return on equity of 22.61%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 EPS. Analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be given a $0.225 dividend. The ex-dividend date is Wednesday, January 28th. This represents a $0.90 annualized dividend and a yield of 4.8%. Antero Midstream’s dividend payout ratio (DPR) is presently 91.84%.

Antero Midstream Company 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.