559,774 Shares in Antero Midstream Co. (NYSE:AM) Purchased by SIR Capital Management L.P.

SIR Capital Management L.P. bought a new position in shares of Antero Midstream Co. (NYSE:AM) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 559,774 shares of the pipeline company’s stock, valued at approximately $8,251,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Texas Permanent School Fund Corp grew its position in Antero Midstream by 47.6% during the second quarter. Texas Permanent School Fund Corp now owns 439,936 shares of the pipeline company’s stock worth $6,485,000 after buying an additional 141,850 shares in the last quarter. Choreo LLC bought a new stake in Antero Midstream during the second quarter worth about $229,000. Quest Partners LLC lifted its stake in Antero Midstream by 887.4% during the second quarter. Quest Partners LLC now owns 113,154 shares of the pipeline company’s stock worth $1,668,000 after purchasing an additional 101,694 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Antero Midstream during the second quarter worth about $3,883,000. Finally, Los Angeles Capital Management LLC lifted its stake in Antero Midstream by 30.2% during the second quarter. Los Angeles Capital Management LLC now owns 1,096,055 shares of the pipeline company’s stock worth $16,156,000 after purchasing an additional 254,398 shares during the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Antero Midstream

In related news, insider Sheri Pearce sold 23,518 shares of the business’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 transaction, the insider now owns 130,349 shares in the company, valued at approximately $1,901,791.91. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

Antero Midstream Trading Down 0.7 %

NYSE AM opened at $14.19 on Tuesday. Antero Midstream Co. has a 1-year low of $11.50 and a 1-year high of $15.21. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average of $14.50 and a 200-day moving average of $14.27. The firm has a market cap of $6.83 billion, a PE ratio of 17.73 and a beta of 2.34.

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

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $0.90 dividend on an annualized basis and a yield of 6.34%. Antero Midstream’s dividend payout ratio is presently 112.50%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AM shares. Morgan Stanley lifted 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. StockNews.com lowered Antero Midstream from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.88.

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.