Parkside Financial Bank & Trust Cuts Antero Midstream Stake

Parkside Financial Bank & Trust has reduced its ownership in Antero Midstream Co. (NYSE:AM) by 48.9% during the fourth quarter, based on the latest filing with the Securities and Exchange Commission (SEC). After selling 20,003 shares during the quarter, the fund now holds 20,898 shares of the pipeline company. As per the recent SEC filing, Parkside Financial Bank & Trust's total investment in Antero Midstream is valued at approximately $315,000.

Other institutional investors and hedge funds have also adjusted their investments in Antero Midstream. Advisors Asset Management Inc. increased its stake by 10.5% in the third quarter, acquiring an additional 34,222 shares to own a total of 358,928 shares valued at about $5,402,000. Van ECK Associates Corp significantly raised its stake by 98.6% in the same quarter, now owning 173,266 shares worth $2,564,000 after adding 86,001 shares. Similarly, JPMorgan Chase & Co. increased its ownership by 12.0%, bringing its total holdings to 1,906,052 shares worth $28,686,000 after buying 203,967 more shares.

Empowered Funds LLC also raised its investment during the fourth quarter by 4.3%, now owning 42,139 shares valued at $636,000 after acquiring 1,751 additional shares. Columbus Macro LLC entered a new position in Antero Midstream during the fourth quarter with an investment worth $6,977,000. Overall, institutional investors and hedge funds own 53.97% of Antero Midstream's stock.

Current Performance of Antero Midstream

As of Friday, shares of Antero Midstream (AM) opened at $16.96. The company maintains a market capitalization of $8.11 billion, a price-to-earnings ratio of 20.43, and a beta of 2.31. Over the last year, the stock has seen a low of $13.12 and a high of $16.99. The fifty-day moving average price stands at $15.99, while the 200-day moving average is $15.36. The company’s debt-to-equity ratio is 1.47, and both its current and quick ratios are at 1.17.

On February 12th, Antero Midstream reported its quarterly earnings, revealing earnings per share (EPS) of $0.23, which was slightly below analysts' expectations of $0.24, missing by $0.01. The company has a net margin of 36.24% and a return on equity of 18.82%. Looking forward, analysts predict Antero Midstream will achieve an EPS of 0.95 for the current fiscal year.

Dividend Announcements

Antero Midstream has recently declared a quarterly dividend, which was disbursed on February 12th. Shareholders recorded on January 29th were paid a dividend of $0.225. The ex-dividend date was also set for January 29th. Annually, this dividend translates to $0.90, providing a yield of 5.31%. The company's dividend payout ratio currently stands at 108.43%.

Analyst Ratings Updates

Recent evaluations by analysts have led to upgrades for Antero Midstream. StockNews.com recently elevated shares from a "hold" rating to a "buy" status on February 4th. Additionally, Wells Fargo & Company boosted their price target on Antero Midstream shares from $16.00 to $17.00, assigning the stock an "overweight" rating on February 18th.

About Antero Midstream

Antero Midstream Corporation engages in the ownership, operation, and development of midstream energy assets located in the Appalachian Basin. The company operates through two primary segments: Gathering and Processing, as well as Water Handling. The Gathering and Processing segment features a network of pipelines and compressor stations that manage production processes from Antero Resources' wells situated in West Virginia and Ohio.

Antero, Midstream, Investment