SVB Wealth LLC Invests $192,000 in Antero Midstream Co. (NYSE:AM)

Posted by Defense World Staff on May 29th, 2023

SVB Wealth LLC bought a new position in Antero Midstream Co. (NYSE:AM – Get Rating) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 17,774 shares of the pipeline company’s stock, valued at approximately $192,000.

Several other institutional investors have also recently made changes to their positions in AM. Advisor Group Holdings Inc. grew its stake in shares of 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 acquiring an additional 12,431 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Antero Midstream by 11.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 99,908 shares of the pipeline company’s stock worth $1,086,000 after acquiring an additional 10,513 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Antero Midstream by 21.4% in the 1st quarter. HighTower Advisors LLC now owns 76,529 shares of the pipeline company’s stock worth $829,000 after buying an additional 13,493 shares during the last quarter. Private Advisor Group LLC purchased a new position in shares of Antero Midstream in the 1st quarter worth about $239,000. Finally, Bank of Montreal Can boosted its holdings in shares of 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 buying an additional 18,435 shares during the last quarter. Institutional investors own 52.21% of the company’s stock.

Antero Midstream Trading Down 0.1 %

Shares of Antero Midstream stock opened at $10.44 on Monday. Antero Midstream Co. has a 52-week low of $8.56 and a 52-week high of $11.61. The stock’s 50-day simple moving average is $10.41 and its 200 day simple moving average is $10.66. The stock has a market capitalization of $5.01 billion, a P/E ratio of 15.13 and a beta of 2.36. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.02 and a current ratio of 1.02.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 8.62%. The ex-dividend date was Tuesday, April 25th. Antero Midstream’s dividend payout ratio is currently 130.43%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AM. StockNews.com began coverage on shares of Antero Midstream in a report on Thursday, May 18th. They issued a “hold” rating on the stock. UBS Group initiated coverage on shares of Antero Midstream in a report on Wednesday, May 10th. They issued a “buy” rating and a $14.00 price target on the stock. Finally, Capital One Financial reiterated an “equal weight” rating on shares of Antero Midstream in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.33.

Insider Activity at Antero Midstream

In other news, Director David H. Keyte purchased 10,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were purchased at an average cost of $10.01 per share, with a total value of $100,100.00. Following the completion of the acquisition, the director now owns 79,373 shares in the company, valued at approximately $794,523.73. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Michael N. Kennedy sold 300,000 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $10.47, for a total value of $3,141,000.00. Following the sale, the insider now directly owns 1,060,730 shares of the company’s stock, valued at $11,105,843.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David H. Keyte acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was bought at an average price of $10.01 per share, for a total transaction of $100,100.00. Following the completion of the transaction, the director now owns 79,373 shares of the company’s stock, valued at approximately $794,523.73. The disclosure for this purchase can be found here. 0.80% of the stock is currently owned by company insiders.

Antero Midstream Company Profile

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Antero Midstream Corp. is a growth-oriented midstream energy company, which owns, operates, and develops midstream energy assets to service Antero Resources production and completion activity. It operates through the Gathering and Processing and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collect and process production from Antero Resources wells in West Virginia and Ohio.