CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 71,000 Shares of Antero Midstream Co. (NYSE:AM)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its stake in Antero Midstream Co. (NYSE:AM - Free Report) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,026,000 shares of the pipeline company's stock after selling 71,000 shares during the period. Antero Midstream comprises approximately 1.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's investment portfolio, making the stock its 20th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.21% of Antero Midstream worth $15,441,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Illinois Municipal Retirement Fund bought a new position in Antero Midstream during the first quarter worth $1,506,000. Clearbridge Investments LLC boosted its position in shares of Antero Midstream by 1.2% during the 1st quarter. Clearbridge Investments LLC now owns 7,282,393 shares of the pipeline company's stock valued at $102,390,000 after purchasing an additional 84,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Antero Midstream by 18.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,932,935 shares of the pipeline company's stock worth $41,237,000 after purchasing an additional 452,535 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in Antero Midstream in the second quarter worth approximately $526,000. Finally, Cetera Advisors LLC lifted its stake in Antero Midstream by 608.8% in the first quarter. Cetera Advisors LLC now owns 150,842 shares of the pipeline company's stock valued at $2,121,000 after buying an additional 129,561 shares during the period. 53.97% of the stock is owned by institutional investors.

Antero Midstream Stock Up 0.6 %

Shares of NYSE:AM traded up $0.10 during trading on Tuesday, reaching $15.19. 2,454,016 shares of the stock were exchanged, compared to its average volume of 2,650,276. The stock has a fifty day moving average of $14.90 and a two-hundred day moving average of $14.57. Antero Midstream Co. has a 1-year low of $11.58 and a 1-year high of $15.87. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 18.94 and a beta of 2.34.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.18 earnings per share (EPS) 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 business had revenue of $269.70 million for the quarter, compared to analyst estimates of $274.66 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm's quarterly revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that Antero Midstream Co. will post 0.85 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $0.225 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.93%. Antero Midstream's dividend payout ratio is presently 112.50%.

Wall Street Analysts Forecast Growth

AM has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on shares of Antero Midstream from $15.00 to $16.00 and gave the company an "underweight" rating in a research note on Tuesday, August 27th. StockNews.com downgraded shares of Antero Midstream from a "buy" rating to a "hold" rating in a research note on Monday, August 5th.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 23,518 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $14.59, for a total value of $343,127.62. Following the completion of the sale, the insider now owns 130,349 shares in the company, valued at $1,901,791.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

Antero Midstream 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.