Antero Midstream Co. (NYSE:AM) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its holdings in shares of Antero Midstream Co. (NYSE:AM) by 6.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,026,000 shares of the pipeline company’s stock after selling 71,000 shares during the period. Antero Midstream accounts for about 1.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 20th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Antero Midstream were worth $15,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in Antero Midstream by 360.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,240 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 1,753 shares during the period. MCF Advisors LLC acquired a new stake in shares of Antero Midstream during the 1st quarter worth approximately $34,000. Blue Trust Inc. lifted its holdings in shares of Antero Midstream by 149.4% in the 3rd quarter. Blue Trust Inc. now owns 3,100 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 1,857 shares during the last quarter. City State Bank acquired a new position in Antero Midstream during the 2nd quarter valued at approximately $51,000. Finally, First Horizon Advisors Inc. grew its stake in Antero Midstream by 24.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,528 shares of the pipeline company’s stock worth $52,000 after buying an additional 688 shares during the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AM. Morgan Stanley boosted their price target on shares of Antero Midstream from $15.00 to $16.00 and gave the company an “underweight” rating in a report on Tuesday, August 27th. StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Monday, August 5th.

Antero Midstream Trading Up 0.2 %

Shares of NYSE:AM traded up $0.03 during mid-day trading on Tuesday, hitting $15.12. The stock had a trading volume of 939,875 shares, compared to its average volume of 2,643,476. The company’s 50 day moving average is $14.90 and its 200-day moving average is $14.57. The company has a market cap of $7.28 billion, a PE ratio of 18.94 and a beta of 2.34. Antero Midstream Co. has a 12-month low of $11.58 and a 12-month high of $15.87. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.89 and a current ratio of 0.89.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The company had revenue of $269.70 million for the quarter, compared to analyst estimates of $274.66 million. Antero Midstream had a net margin of 36.19% and a return on equity of 19.40%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $0.22 EPS. On average, sell-side analysts predict that Antero Midstream Co. will post 0.85 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Wednesday, October 23rd. Antero Midstream’s payout ratio is presently 112.50%.

Insider Buying and Selling

In other news, insider Sheri Pearce sold 23,518 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $14.59, for a total transaction of $343,127.62. Following the completion of the transaction, the insider now directly owns 130,349 shares of the company’s stock, valued at approximately $1,901,791.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.