Principal Financial Group Inc. cut its stake in Antero Midstream Co. (NYSE:AM - Free Report) by 31.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 782,787 shares of the pipeline company's stock after selling 356,428 shares during the quarter. Principal Financial Group Inc. owned about 0.16% of Antero Midstream worth $11,781,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in Antero Midstream in the 3rd quarter worth approximately $38,000. Blue Trust Inc. increased its holdings in shares of Antero Midstream by 149.4% in the third quarter. Blue Trust Inc. now owns 3,100 shares of the pipeline company's stock worth $46,000 after purchasing an additional 1,857 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Antero Midstream in the third quarter worth $48,000. Abich Financial Wealth Management LLC bought a new stake in Antero Midstream during the second quarter valued at $55,000. Finally, CWM LLC grew its position in Antero Midstream by 10.5% during the third quarter. CWM LLC now owns 8,115 shares of the pipeline company's stock worth $122,000 after buying an additional 768 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
AM has been the topic of several recent analyst reports. Wells Fargo & Company cut Antero Midstream from an "overweight" rating to an "equal weight" rating and set a $16.00 price target on the stock. in a report on Wednesday, December 18th. StockNews.com upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Thursday, December 19th.
Get Our Latest Stock Report on Antero Midstream
Insider Buying and Selling
In other news, Director Brooks J. Klimley sold 10,000 shares of the firm's stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $14.66, for a total transaction of $146,600.00. Following the transaction, the director now directly owns 74,100 shares of the company's stock, valued at approximately $1,086,306. This trade represents a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.
Antero Midstream Price Performance
AM traded up $0.04 during trading on Monday, reaching $15.15. The stock had a trading volume of 1,891,235 shares, compared to its average volume of 2,680,948. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.09 and a current ratio of 1.09. The business has a 50-day moving average of $15.17 and a 200-day moving average of $14.88. Antero Midstream Co. has a one year low of $11.58 and a one year high of $16.00. The stock has a market cap of $7.29 billion, a PE ratio of 18.70 and a beta of 2.39.
Antero Midstream Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.94%. Antero Midstream's dividend payout ratio is 111.11%.
Antero Midstream Profile
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Free Report)
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.
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