Harvest Fund Management Co. Ltd Takes Position in Antero Midstream Co. (NYSE:AM)

Harvest Fund Management Co. Ltd acquired a new position in shares of Antero Midstream Co. (NYSE:AM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,304 shares of the pipeline company’s stock, valued at approximately $104,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC acquired a new stake in Antero Midstream in the third quarter valued at $11,338,000. FMR LLC lifted its stake in Antero Midstream by 89.8% in the 3rd quarter. FMR LLC now owns 960,810 shares of the pipeline company’s stock valued at $11,511,000 after purchasing an additional 454,675 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Antero Midstream by 41.3% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,238,000 shares of the pipeline company’s stock worth $15,512,000 after purchasing an additional 362,000 shares during the period. Los Angeles Capital Management LLC acquired a new position in Antero Midstream during the third quarter worth approximately $4,321,000. Finally, Barton Investment Management bought a new stake in Antero Midstream in the 4th quarter valued at $4,488,000. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 16,394 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $13.67, for a total value of $224,105.98. Following the completion of the sale, the insider now directly owns 170,266 shares in the company, valued at $2,327,536.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AM shares. Tudor, Pickering, Holt & Co. cut Antero Midstream from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $12.00 to $13.00 in a report on Tuesday, March 12th. StockNews.com downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and a consensus target price of $12.70.

Antero Midstream Stock Up 1.5 %

Shares of NYSE:AM opened at $14.23 on Friday. The firm has a market cap of $6.83 billion, a P/E ratio of 17.79 and a beta of 2.25. Antero Midstream Co. has a 12-month low of $9.69 and a 12-month high of $14.52. The business has a fifty day simple moving average of $13.63 and a 200 day simple moving average of $12.90. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.49.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The firm had revenue of $260.17 million for the quarter, compared to the consensus estimate of $261.04 million. Antero Midstream had a net margin of 36.67% and a return on equity of 20.82%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.20 EPS. Analysts predict that Antero Midstream Co. will post 0.96 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 6.32%. The ex-dividend date of this dividend is Tuesday, April 23rd. Antero Midstream’s dividend payout ratio (DPR) is presently 112.50%.

Antero Midstream Company Profile

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.