Amalgamated Bank Trims Stake in Antero Midstream Corporation (NYSE:AM)

Amalgamated Bank lessened its holdings in Antero Midstream Corporation (NYSE:AM) by 4.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 155,965 shares of the pipeline company’s stock after selling 6,646 shares during the quarter. Amalgamated Bank’s holdings in Antero Midstream were worth $2,807,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AM. Norges Bank purchased a new stake in Antero Midstream in the 4th quarter worth $62,578,000. Boston Trust Walden Corp purchased a new position in Antero Midstream in the first quarter worth about $51,269,000. SIR Capital Management L.P. purchased a new position in shares of Antero Midstream during the fourth quarter valued at approximately $35,058,000. Balyasny Asset Management L.P. boosted its position in shares of Antero Midstream by 7,769.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,028,014 shares of the pipeline company’s stock valued at $15,513,000 after buying an additional 1,014,951 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Antero Midstream by 22.5% during the fourth quarter. Northern Trust Corp now owns 4,105,379 shares of the pipeline company’s stock valued at $61,950,000 after buying an additional 753,939 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

NYSE AM opened at $18.32 on Friday. The stock’s fifty day moving average price is $18.30 and its 200 day moving average price is $17.06. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.42. Antero Midstream Corporation has a 1 year low of $13.12 and a 1 year high of $19.09. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 21.05 and a beta of 1.01.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, April 30th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. Antero Midstream had a net margin of 37.35% and a return on equity of 19.75%. The business had revenue of $291.13 million for the quarter, compared to analyst estimates of $277.79 million. During the same period in the prior year, the company posted $0.21 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Antero Midstream Corporation will post 0.95 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 7th. Stockholders of record on Wednesday, April 23rd were paid a dividend of $0.225 per share. 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 currently 103.45%.

Insider Activity

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the sale, the director directly owned 73,645 shares of the company’s stock, valued at $1,390,417.60. This represents a 6.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AM has been the subject of a number of research reports. Wall Street Zen upgraded Antero Midstream from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $17.00 price target (up from $16.00) on shares of Antero Midstream in a research report on Tuesday, June 3rd.

About Antero Midstream

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.