WT Wealth Management Cuts Stock Holdings in Antero Midstream Co. (NYSE:AM)

WT Wealth Management cut its stake in Antero Midstream Co. (NYSE:AM) by 13.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,089 shares of the pipeline company’s stock after selling 2,049 shares during the quarter. WT Wealth Management’s holdings in Antero Midstream were worth $198,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

AM has been the subject of a number of research analyst reports. StockNews.com downgraded Antero Midstream from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Morgan Stanley upped their price target on Antero Midstream from $15.00 to $16.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 27th.

Antero Midstream Trading Up 0.1 %

Shares of Antero Midstream stock traded up $0.02 during trading hours on Tuesday, reaching $15.11. The stock had a trading volume of 1,018,486 shares, compared to its average volume of 2,644,261. The firm has a 50 day simple moving average of $14.90 and a two-hundred day simple moving average of $14.57. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of 18.94 and a beta of 2.34. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.50. Antero Midstream Co. has a 1 year low of $11.58 and a 1 year high of $15.87.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.04). The firm had revenue of $269.70 million during the quarter, compared to analysts’ expectations of $274.66 million. Antero Midstream had a return on equity of 19.40% and a net margin of 36.19%. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 earnings per share. As a group, equities research analysts anticipate that Antero Midstream Co. will post 0.85 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $0.225 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.96%. Antero Midstream’s dividend payout ratio (DPR) is 112.50%.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 23,518 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $14.59, for a total transaction of $343,127.62. Following the sale, the insider now directly owns 130,349 shares in the company, valued at approximately $1,901,791.91. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

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.