Sequoia Financial Advisors LLC Acquires 975 Shares of Antero Midstream Corporation (NYSE:AM)

Sequoia Financial Advisors LLC boosted its holdings in Antero Midstream Corporation (NYSE:AM) by 6.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 16,034 shares of the pipeline company’s stock after acquiring an additional 975 shares during the period. Sequoia Financial Advisors LLC’s holdings in Antero Midstream were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AM. Norges Bank acquired a new stake in Antero Midstream in the 4th quarter worth about $62,578,000. Boston Trust Walden Corp acquired a new stake in Antero Midstream in the 1st quarter worth about $51,269,000. SIR Capital Management L.P. acquired a new stake in Antero Midstream in the 4th quarter worth about $35,058,000. Balyasny Asset Management L.P. raised its stake in Antero Midstream by 7,769.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,028,014 shares of the pipeline company’s stock worth $15,513,000 after purchasing an additional 1,014,951 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Antero Midstream by 22.5% in the 4th quarter. Northern Trust Corp now owns 4,105,379 shares of the pipeline company’s stock worth $61,950,000 after purchasing an additional 753,939 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AM shares. Wall Street Zen upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Morgan Stanley reiterated an “underweight” rating and issued a $17.00 price objective (up previously from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd.

Antero Midstream Price Performance

Shares of NYSE:AM opened at $18.32 on Friday. The firm has a 50 day moving average of $18.27 and a 200-day moving average of $17.04. The stock has a market capitalization of $8.78 billion, a PE ratio of 21.05 and a beta of 1.01. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.49. Antero Midstream Corporation has a 12 month low of $13.12 and a 12 month high of $19.09.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02. The company had revenue of $291.13 million during the quarter, compared to analysts’ expectations of $277.79 million. Antero Midstream had a net margin of 37.35% and a return on equity of 19.75%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. On average, equities research analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.91%. The ex-dividend date was Wednesday, April 23rd. Antero Midstream’s payout ratio is presently 103.45%.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the transaction, the director directly owned 73,645 shares in the company, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Antero Midstream Company 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.