Alps Advisors Inc. lowered its holdings in Antero Midstream GP LP (NYSE:AMGP) by 42.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,311 shares of the company’s stock after selling 28,339 shares during the period. Alps Advisors Inc.’s holdings in Antero Midstream GP were worth $755,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Atlantic Trust Group LLC boosted its holdings in Antero Midstream GP by 148.8% in the first quarter. Atlantic Trust Group LLC now owns 4,225,250 shares of the company’s stock valued at $67,562,000 after purchasing an additional 2,526,905 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Antero Midstream GP by 1,672.5% in the first quarter. Neuberger Berman Group LLC now owns 1,724,404 shares of the company’s stock valued at $27,573,000 after purchasing an additional 1,627,120 shares during the last quarter. Perella Weinberg Partners Capital Management LP boosted its holdings in Antero Midstream GP by 23.2% in the second quarter. Perella Weinberg Partners Capital Management LP now owns 1,650,295 shares of the company’s stock valued at $31,125,000 after purchasing an additional 311,084 shares during the last quarter. Duff & Phelps Investment Management Co. boosted its holdings in Antero Midstream GP by 172.3% in the first quarter. Duff & Phelps Investment Management Co. now owns 1,510,029 shares of the company’s stock valued at $24,145,000 after purchasing an additional 955,479 shares during the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in Antero Midstream GP by 321.8% in the first quarter. Copeland Capital Management LLC now owns 1,126,090 shares of the company’s stock valued at $18,006,000 after purchasing an additional 859,106 shares during the last quarter. 74.83% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on the company. Zacks Investment Research raised Antero Midstream GP from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. ValuEngine raised Antero Midstream GP from a “strong sell” rating to a “sell” rating in a report on Friday, June 1st. Finally, Wells Fargo & Co reduced their target price on Antero Midstream GP from $24.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, August 9th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $22.27.
In other Antero Midstream GP news, insider K. Phil Yoo sold 5,000 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $19.45, for a total transaction of $97,250.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
NYSE:AMGP opened at $18.88 on Friday. Antero Midstream GP LP has a 52 week low of $14.85 and a 52 week high of $22.39. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 629.33 and a beta of 2.03.
Antero Midstream GP (NYSE:AMGP) last released its earnings results on Wednesday, August 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). Antero Midstream GP had a return on equity of 199.85% and a net margin of 32.91%. The firm had revenue of $33.14 million for the quarter, compared to the consensus estimate of $33.39 million. During the same period in the prior year, the business earned ($0.01) EPS. The company’s quarterly revenue was up 116.2% on a year-over-year basis. sell-side analysts expect that Antero Midstream GP LP will post 0.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 22nd. Shareholders of record on Thursday, August 2nd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, August 1st. This is an increase from Antero Midstream GP’s previous quarterly dividend of $0.11. Antero Midstream GP’s dividend payout ratio (DPR) is currently 1,666.67%.
About Antero Midstream GP
Antero Midstream GP LP owns, operates, and develops midstream energy assets in the Marcellus and Utica Shales in West Virginia and Ohio. Its assets consist of gathering pipelines, compressor stations, interests in processing and fractionation plants, and water handling and treatment assets, which provide midstream services to Antero Resources Corporation under long term fixed fee contracts.
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