Legal & General Group Plc raised its position in Antero Midstream Corp (NYSE:AM) by 2.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 342,794 shares of the pipeline company’s stock after buying an additional 6,837 shares during the period. Legal & General Group Plc owned about 0.07% of Antero Midstream worth $720,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in AM. XTX Markets LLC bought a new position in shares of Antero Midstream in the 1st quarter worth $30,000. M&T Bank Corp boosted its position in shares of Antero Midstream by 35.0% in the 1st quarter. M&T Bank Corp now owns 15,597 shares of the pipeline company’s stock worth $33,000 after purchasing an additional 4,044 shares during the last quarter. JGP Wealth Management LLC bought a new position in shares of Antero Midstream in the 1st quarter worth $45,000. RMB Capital Management LLC bought a new position in shares of Antero Midstream in the 1st quarter worth $46,000. Finally, Horizon Bancorp Inc. IN bought a new position in shares of Antero Midstream in the 4th quarter worth $49,000. Hedge funds and other institutional investors own 59.64% of the company’s stock.
Several research firms have recently issued reports on AM. Robert W. Baird lowered Antero Midstream from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $6.00 to $4.00 in a research report on Monday, March 9th. JPMorgan Chase & Co. downgraded Antero Midstream from a “neutral” rating to an “underweight” rating in a research note on Tuesday, April 28th. Citigroup downgraded Antero Midstream from a “buy” rating to a “neutral” rating in a research note on Friday, May 1st. Zacks Investment Research downgraded Antero Midstream from a “buy” rating to a “hold” rating and set a $5.00 price target on the stock. in a research note on Tuesday, June 2nd. Finally, ValuEngine raised Antero Midstream from a “strong sell” rating to a “sell” rating in a research note on Monday, June 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Antero Midstream presently has a consensus rating of “Hold” and a consensus target price of $8.70.
AM opened at $5.10 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.81 and a quick ratio of 1.81. Antero Midstream Corp has a fifty-two week low of $1.69 and a fifty-two week high of $12.46. The firm has a market capitalization of $2.28 billion, a PE ratio of -3.33 and a beta of 3.70. The company’s 50-day moving average is $4.94 and its 200 day moving average is $4.85.
Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, April 29th. The pipeline company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.01. Antero Midstream had a negative net margin of 77.14% and a positive return on equity of 16.99%. The firm had revenue of $243.71 million during the quarter, compared to the consensus estimate of $239.49 million. During the same period in the prior year, the firm earned $0.04 EPS. The company’s revenue was up 350.4% compared to the same quarter last year. As a group, analysts expect that Antero Midstream Corp will post 0.96 EPS for the current year.
In other Antero Midstream news, insider Glen C. Warren, Jr. sold 10,000,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $4.10, for a total value of $41,000,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Paul M. Rady sold 18,000,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $4.10, for a total transaction of $73,800,000.00. The disclosure for this sale can be found here.
About Antero Midstream
Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.
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