Principal Financial Group Inc. recently reported a 6.5% reduction in its holdings in Antero Midstream Co. Based on its most recent 13F filing submitted to the Securities & Exchange Commission, the company’s fund owned less than 1% of the pipeline firm’s stock that amounts to $14,172,000 at the end of the reporting period. This reduction may prompt investors to wonder what’s currently happening within Antero Midstream.
On May 5th, insider Michael N. Kennedy sold part of his stake in Antero Midstream, disposing of 300,000 shares at an average price of $10.47 per share with a total transaction value amounting to $3,141,000. The filing shows he still has more than a million shares valued at around $11m after the sale.
Meanwhile, it is interesting to note that Director David H. Keyte purchased 10,000 shares in March this year for roughly $100k or an average price of $10.01 per share pre-dating Kennedy’s recent divestment activity.
Antero Midstream Co.’s market cap stands at around $5.1 billion with current and quick ratios of 1.02 each while carrying a debt-to-equity ratio of approximately 1.53 as per its fiscal report last year.
Despite these activities from insiders and shareholders alike which seem unsynchronized due to their contrasting decisions involving their stakes; perhaps it would be wise not to read too much into such movements but rather consider them as normal business transactions and responses among colleagues as they navigate through uncertain times like these all while keeping their own personal financial goals in check alongside developments within their current working environment amidst an ever-changing industry affected by various global factors amid technological advancements and global pandemics alike.
Institutional Investors Show Growing Interest in Antero Midstream Pipeline Company
Antero Midstream, a pipeline company in the United States, has recently seen a significant increase in its holdings by institutional investors. Covestor Ltd, Castle Wealth Management LLC, MinichMacGregor Wealth Management LLC, TCI Wealth Advisors Inc., and Parallel Advisors LLC have all purchased stakes in the company over the past year. The total percentage of Antero Midstream’s stock owned by institutional investors is 52.21%.
Several research analysts have also issued reports on Antero Midstream’s performance. UBS Group and StockNews.com both covered the company recently, with UBS giving it a “buy” rating and StockNews.com deeming the stock as “hold.” Capital One Financial reaffirmed an “equal weight” rating on shares of Antero Midstream in a research report earlier this year.
The recent declaration of a quarterly dividend was paid on May 10th to shareholders of record on April 26th. The dividend payout ratio is quite high at 130.43%. The ex-dividend date for the payout was the day before on April 25th.
Overall, Antero Midstream has been showing promise for investors with its increasing attention from institutional investors and analysis reports giving varying opinions on its performance. With dividend payouts being made, it remains to be seen how Antero Midstream will fare in the coming months.
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