Summit Investment Advisors Inc. Cuts Holdings in Antero Midstream Co. (NYSE:AM)

Summit Investment Advisors Inc. lessened its stake in Antero Midstream Co. (NYSE:AM) by 2.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 67,485 shares of the pipeline company’s stock after selling 1,630 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Antero Midstream were worth $1,018,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. lifted its holdings in Antero Midstream by 58.6% during the 4th quarter. Financial Management Professionals Inc. now owns 2,706 shares of the pipeline company’s stock worth $41,000 after buying an additional 1,000 shares during the last quarter. Blue Trust Inc. raised its position in shares of Antero Midstream by 84.3% during the 4th quarter. Blue Trust Inc. now owns 5,712 shares of the pipeline company’s stock worth $86,000 after acquiring an additional 2,612 shares in the last quarter. GAMMA Investing LLC lifted its stake in Antero Midstream by 44.5% during the fourth quarter. GAMMA Investing LLC now owns 6,372 shares of the pipeline company’s stock worth $96,000 after purchasing an additional 1,962 shares during the last quarter. Allworth Financial LP boosted its holdings in Antero Midstream by 17.8% in the fourth quarter. Allworth Financial LP now owns 6,305 shares of the pipeline company’s stock valued at $104,000 after purchasing an additional 951 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in Antero Midstream in the fourth quarter valued at approximately $119,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Stock Up 1.7 %

AM opened at $17.15 on Friday. Antero Midstream Co. has a 52 week low of $13.12 and a 52 week high of $18.49. The business has a 50 day moving average price of $16.89 and a two-hundred day moving average price of $15.96. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.47. The company has a market cap of $8.21 billion, a PE ratio of 20.67 and a beta of 1.99.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, February 12th. The pipeline company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Antero Midstream had a return on equity of 18.82% and a net margin of 36.24%. As a group, research analysts anticipate that Antero Midstream Co. will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Wednesday, April 23rd. Antero Midstream’s dividend payout ratio is currently 108.43%.

Analysts Set New Price Targets

AM has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of Antero Midstream from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. StockNews.com upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd.

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.