Citigroup Inc. Trims Holdings in Antero Midstream Co. (NYSE:AM)

Citigroup Inc. trimmed its stake in shares of Antero Midstream Co. (NYSE:AM) by 84.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,358 shares of the pipeline company’s stock after selling 119,887 shares during the quarter. Citigroup Inc.’s holdings in Antero Midstream were worth $268,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Advisor Group Holdings Inc. lifted its stake in Antero Midstream by 58.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 33,613 shares of the pipeline company’s stock worth $365,000 after purchasing an additional 12,431 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Antero Midstream by 11.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 99,908 shares of the pipeline company’s stock worth $1,086,000 after buying an additional 10,513 shares in the last quarter. HighTower Advisors LLC boosted its stake in Antero Midstream by 21.4% during the first quarter. HighTower Advisors LLC now owns 76,529 shares of the pipeline company’s stock valued at $829,000 after buying an additional 13,493 shares during the period. Private Advisor Group LLC purchased a new position in Antero Midstream during the first quarter worth about $239,000. Finally, Bank of Montreal Can increased its stake in Antero Midstream by 12.1% in the 1st quarter. Bank of Montreal Can now owns 171,400 shares of the pipeline company’s stock worth $1,889,000 after acquiring an additional 18,435 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Activity

In other news, insider Sheri Pearce sold 16,394 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was 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 owns 170,266 shares of the company’s stock, valued at approximately $2,327,536.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.52% of the company’s stock.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $13.89 on Thursday. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 18.04 and a beta of 2.26. The stock’s 50-day moving average is $12.86 and its 200 day moving average is $12.59. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.49. Antero Midstream Co. has a 1-year low of $9.69 and a 1-year high of $14.06.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Thursday, February 15th. The pipeline company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. Antero Midstream had a net margin of 35.69% and a return on equity of 19.96%. The firm had revenue of $260.17 million for the quarter, compared to the consensus estimate of $261.04 million. During the same period last year, the firm posted $0.20 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Antero Midstream Co. will post 0.96 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th were given a dividend of $0.225 per share. The ex-dividend date was Tuesday, January 23rd. This represents a $0.90 annualized dividend and a yield of 6.48%. Antero Midstream’s payout ratio is 116.88%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AM. Tudor, Pickering, Holt & Co. downgraded Antero Midstream from a “buy” rating to a “hold” rating and lifted their price target for the company from $12.00 to $13.00 in a research report on Tuesday, March 12th. StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.70.

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.