Clearbridge Investments LLC Raises Position in Antero Midstream Corporation $AM

Clearbridge Investments LLC boosted its stake in Antero Midstream Corporation (NYSE:AM) by 1.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,635,643 shares of the pipeline company’s stock after buying an additional 37,400 shares during the quarter. Clearbridge Investments LLC’s holdings in Antero Midstream were worth $64,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Wealth Partners LLC purchased a new position in Antero Midstream in the 4th quarter worth approximately $27,000. Larson Financial Group LLC lifted its stake in Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Antero Midstream by 138.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company’s stock worth $52,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after purchasing an additional 2,224 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AM has been the topic of a number of research reports. UBS Group raised their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 25th. Wells Fargo & Company raised their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, March 13th. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a research note on Wednesday, April 22nd. The Goldman Sachs Group raised their target price on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.00.

Antero Midstream Stock Down 1.0%

Shares of NYSE AM opened at $21.31 on Tuesday. The company has a 50 day simple moving average of $21.76 and a 200-day simple moving average of $20.36. The company has a market capitalization of $10.12 billion, a P/E ratio of 24.77 and a beta of 0.66. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. Antero Midstream Corporation has a 1 year low of $16.77 and a 1 year high of $23.83.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 EPS. On average, equities research analysts predict that Antero Midstream Corporation will post 1.12 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. Antero Midstream’s dividend payout ratio (DPR) is currently 104.65%.

Insider Transactions at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the sale, the director owned 69,680 shares in the company, valued at $1,613,788.80. This trade represents a 6.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yvette K. Schultz sold 69,269 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the sale, the insider owned 580,565 shares of the company’s stock, valued at $12,714,373.50. This represents a 10.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 174,269 shares of company stock worth $3,824,791 in the last 90 days. Insiders own 1.10% of the company’s stock.

Antero Midstream Profile

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.