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Antero Midstream Partners: How's It Doing amid Sector Weakness?

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Part 8
Antero Midstream Partners: How's It Doing amid Sector Weakness? PART 8 OF 9

Harvest Fund Advisors Added Major Position in Antero Midstream

Recent institutional activity in Antero Midstream Partners

Institutional ownership in Antero Midstream Partners (AM) fell to 43.6% in 2Q17 compared to 45.1% in the previous quarter. The number of holders fell by nine to 57 during the same period. Harvest Fund Advisors added a major position in AM during the last quarter. It increased its position in AM by 0.90 million shares.

Harvest Fund Advisors Added Major Position in Antero Midstream

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AM saw total buying of 3.1 million shares by institutional investors, while 6.0 million shares were sold. That might indicate a bearish sentiment in AM. However, among the top institutional investors in Antero Midstream, 0.70 million positions were added.

Why are institutional investors bearish on AM?

Institutional investors’ slight bearishness toward AM could be attributed to the following factors:

  • Antero Midstream’s entry into the natural gas processing business through the joint venture with MPLX (MPLX) (with natural gas processing being generally exposed to commodity prices)
  • no major addition of a third-party business in recent quarters, resulting in heavy dependence on its sponsor Antero Resources (AR) for throughput volumes.

Top five holders

Tortoise Capital Advisors, Goldman Sachs Asset Management, Alps Advisors, Neuberger Berman, and Chickasaw Capital Management are the top five institutional holders in AM. Tortoise Capital Advisors became the top institutional holder in AM, surpassing Goldman Sachs Asset Management by adding 0.21 million positions, while the latter cut 0.56 million positions. Tortoise Capital Advisors currently holds 4.8% in AM.

In the next part, we’ll look at Antero Midstream’s recent analyst recommendations.

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