Key Points
- Director Brooks Klimley sold 5,000 Antero Midstream shares at an average price of $21.27, generating $106,350 and reducing his direct stake by 6.83% to 68,204 shares.
- Antero Midstream declared a quarterly dividend of $0.225 per share, or $0.90 annually, representing a 4.2% yield; its payout ratio stands at 107.14%.
- Analysts remain cautious, with one Buy and five Hold ratings, an overall “Hold” consensus, and an average price target of $24.50 versus the stock’s recent opening price of $21.48.
Antero Midstream Corporation (NYSE:AM - Get Free Report) Director Brooks Klimley sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the sale, the director directly owned 68,204 shares in the company, valued at approximately $1,450,699.08. The trade was a 6.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Antero Midstream Stock Performance
Antero Midstream stock opened at $21.48 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average of $22.03 and a two-hundred day moving average of $21.67. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 25.58 and a beta of 0.65. Antero Midstream Corporation has a fifty-two week low of $16.96 and a fifty-two week high of $23.83.
Antero Midstream Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, July 29th. Antero Midstream's dividend payout ratio (DPR) is currently 107.14%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price objective on the stock in a report on Wednesday, April 22nd. Weiss Ratings downgraded Antero Midstream from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday. Finally, The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Antero Midstream currently has an average rating of "Hold" and a consensus target price of $24.50.
Read Our Latest Report on AM
Institutional Trading of Antero Midstream
Institutional investors and hedge funds have recently made changes to their positions in the company. Clearstead Trust LLC purchased a new position in shares of Antero Midstream in the 2nd quarter worth $30,000. Arax Advisory Partners raised its holdings in shares of Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company's stock worth $31,000 after purchasing an additional 791 shares during the period. Larson Financial Group LLC grew its holdings in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after purchasing an additional 708 shares during the period. Root Financial Partners LLC grew its holdings in shares of Antero Midstream by 36.4% during the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock worth $46,000 after purchasing an additional 537 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company's stock worth $39,000 after purchasing an additional 2,199 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.
Antero Midstream Company Profile
(
Get Free Report)
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.
Further Reading
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