Russell Investments Group Ltd. Reduces Position in Antero Midstream GP LP (AMGP)

Russell Investments Group Ltd. trimmed its stake in shares of Antero Midstream GP LP (NYSE:AMGP) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 897,284 shares of the company’s stock after selling 41,632 shares during the period. Russell Investments Group Ltd. owned approximately 0.48% of Antero Midstream GP worth $15,185,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Carnick & Kubik Group LLC bought a new stake in shares of Antero Midstream GP during the second quarter worth $23,221,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Antero Midstream GP in the second quarter valued at $12,697,000. Kayne Anderson Capital Advisors LP bought a new position in Antero Midstream GP in the second quarter valued at $10,694,000. Perella Weinberg Partners Capital Management LP grew its position 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 in the last quarter. Finally, JJJ Advisors Inc. bought a new position in Antero Midstream GP in the second quarter valued at $5,398,000. Institutional investors own 48.51% of the company’s stock.

AMGP has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Antero Midstream GP from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $19.00 price target on shares of Antero Midstream GP in a research note on Tuesday, September 18th. Barclays cut their target price on shares of Antero Midstream GP from $23.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, October 12th. ValuEngine cut shares of Antero Midstream GP from a “hold” rating to a “sell” rating in a research note on Saturday, September 1st. Finally, Credit Suisse Group initiated coverage on shares of Antero Midstream GP in a research note on Thursday, October 11th. They set a “neutral” rating and a $20.00 target price for the company. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $21.27.

AMGP stock traded up $0.33 during mid-day trading on Monday, hitting $15.14. The stock had a trading volume of 621,200 shares, compared to its average volume of 627,192. Antero Midstream GP LP has a 52 week low of $14.07 and a 52 week high of $22.39. The firm has a market cap of $2.76 billion, a P/E ratio of 504.67 and a beta of 1.07.

Antero Midstream GP (NYSE:AMGP) last released its earnings results on Wednesday, October 31st. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). Antero Midstream GP had a net margin of 40.12% and a return on equity of 231.93%. The firm had revenue of $37.82 million during the quarter, compared to the consensus estimate of $37.72 million. During the same period in the prior year, the business earned $0.02 earnings per share. Antero Midstream GP’s quarterly revenue was up 98.3% compared to the same quarter last year. As a group, equities research analysts forecast that Antero Midstream GP LP will post 0.52 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 21st. Shareholders of record on Friday, November 2nd were issued a $0.144 dividend. This is a positive change from Antero Midstream GP’s previous quarterly dividend of $0.13. This represents a $0.58 annualized dividend and a yield of 3.80%. The ex-dividend date was Thursday, November 1st. Antero Midstream GP’s dividend payout ratio (DPR) is currently 1,933.33%.

In related news, insider K. Phil Yoo sold 5,000 shares of Antero Midstream GP stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $16.76, for a total transaction of $83,800.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

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Antero Midstream GP Company Profile

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.

Further Reading: Fundamental Analysis and Choosing Stocks

Institutional Ownership by Quarter for Antero Midstream GP (NYSE:AMGP)

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