Franklin Resources Inc. Sells 37,402 Shares of Antero Midstream Co. (NYSE:AM)

Franklin Resources Inc. decreased its holdings in Antero Midstream Co. (NYSE:AM - Free Report) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 212,473 shares of the pipeline company's stock after selling 37,402 shares during the period. Franklin Resources Inc.'s holdings in Antero Midstream were worth $3,308,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its stake in Antero Midstream by 10.5% in the third quarter. Advisors Asset Management Inc. now owns 358,928 shares of the pipeline company's stock worth $5,402,000 after purchasing an additional 34,222 shares during the last quarter. Van ECK Associates Corp grew its position in Antero Midstream by 98.6% in the 3rd quarter. Van ECK Associates Corp now owns 173,266 shares of the pipeline company's stock valued at $2,564,000 after acquiring an additional 86,001 shares during the last quarter. Westwood Holdings Group Inc. grew its position in Antero Midstream by 5.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 3,359,310 shares of the pipeline company's stock valued at $49,516,000 after acquiring an additional 184,911 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Antero Midstream by 23.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 457,121 shares of the pipeline company's stock worth $6,738,000 after purchasing an additional 85,416 shares during the period. Finally, Quest Partners LLC lifted its position in shares of 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. Hedge funds and other institutional investors own 53.97% of the company's stock.

Insider Activity

In other news, Director Brooks J. Klimley sold 10,000 shares of Antero Midstream stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $14.66, for a total value of $146,600.00. Following the transaction, the director now directly owns 74,100 shares in the company, valued at approximately $1,086,306. This trade represents a 11.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company's stock.

Antero Midstream Stock Down 1.0 %

Shares of AM stock traded down $0.15 during mid-day trading on Thursday, hitting $15.15. The stock had a trading volume of 1,732,289 shares, compared to its average volume of 2,686,563. The firm has a market capitalization of $7.29 billion, a P/E ratio of 18.70 and a beta of 2.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.09 and a quick ratio of 1.09. Antero Midstream Co. has a 12-month low of $11.58 and a 12-month high of $16.00. The firm's 50-day moving average is $15.17 and its two-hundred day moving average is $14.87.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend was Wednesday, October 23rd. Antero Midstream's dividend payout ratio (DPR) is 111.11%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AM. StockNews.com upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. Wells Fargo & Company downgraded shares of Antero Midstream from an "overweight" rating to an "equal weight" rating and set a $16.00 target price on the stock. in a research note on Wednesday, December 18th.

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.