Antero Midstream Corporation $AM Stock Position Increased by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. raised its position in shares of Antero Midstream Corporation (NYSE:AM) by 150.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 588,689 shares of the pipeline company’s stock after purchasing an additional 353,446 shares during the period. Clark Capital Management Group Inc.’s holdings in Antero Midstream were worth $11,444,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Antero Midstream by 0.3% during the third quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock valued at $723,424,000 after buying an additional 124,102 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Antero Midstream by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company’s stock valued at $179,316,000 after acquiring an additional 71,606 shares during the period. Bank of New York Mellon Corp raised its stake in Antero Midstream by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after acquiring an additional 1,430,138 shares in the last quarter. Norges Bank bought a new stake in Antero Midstream during the 2nd quarter valued at $80,504,000. Finally, Goldman Sachs Group Inc. boosted its position in Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the period. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $23.16 on Monday. Antero Midstream Corporation has a 1 year low of $15.07 and a 1 year high of $23.34. The firm has a market cap of $10.96 billion, a P/E ratio of 26.93 and a beta of 0.77. The stock has a fifty day moving average price of $20.10 and a two-hundred day moving average price of $18.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 EPS. Research analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th were given a $0.225 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 annualized dividend and a yield of 3.9%. Antero Midstream’s payout ratio is 104.65%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AM. Wells Fargo & Company increased their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. The Goldman Sachs Group increased their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Finally, Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Antero Midstream presently has an average rating of “Hold” and an average target price of $22.00.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 14,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the completion of the sale, the insider directly owned 99,900 shares of the company’s stock, valued at approximately $2,273,724. This represents a 12.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yvette K. Schultz sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.81, for a total transaction of $570,250.00. Following the transaction, the insider owned 649,834 shares of the company’s stock, valued at approximately $14,822,713.54. This trade represents a 3.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 49,000 shares of company stock worth $1,092,640. 0.86% of the stock is owned by corporate insiders.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.