Intech Investment Management LLC Increases Stake in Antero Midstream Corporation $AM

Intech Investment Management LLC increased its holdings in Antero Midstream Corporation (NYSE:AM) by 68.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 770,783 shares of the pipeline company’s stock after acquiring an additional 312,174 shares during the period. Intech Investment Management LLC’s holdings in Antero Midstream were worth $13,712,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AM. Bank of New York Mellon Corp boosted its position 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 buying an additional 1,430,138 shares during the period. Oppenheimer & Co. Inc. boosted its position in Antero Midstream by 40.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock valued at $9,812,000 after buying an additional 146,300 shares during the period. American Century Companies Inc. boosted its position in Antero Midstream by 21.0% during the 3rd quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock valued at $59,913,000 after buying an additional 535,245 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Antero Midstream during the 3rd quarter valued at $2,676,000. Finally, Chickasaw Capital Management LLC boosted its position in Antero Midstream by 11.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,409,183 shares of the pipeline company’s stock valued at $25,069,000 after buying an additional 147,250 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Activity at Antero Midstream

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the transaction, the insider directly owned 580,565 shares in the company, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the transaction, the insider owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. This trade represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 213,269 shares of company stock valued at $4,713,681 over the last quarter. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report 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 price target for the company in a research report on Wednesday, April 22nd. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. UBS Group increased their price target on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group increased their price target 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. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $24.00.

Antero Midstream Stock Down 1.2%

Shares of NYSE AM opened at $20.91 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. Antero Midstream Corporation has a 12 month low of $16.77 and a 12 month high of $23.83. The firm has a market capitalization of $9.93 billion, a PE ratio of 24.31 and a beta of 0.68. The firm has a fifty day simple moving average of $21.98 and a two-hundred day simple moving average of $20.20.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. During the same quarter last year, the company posted $0.25 earnings per share. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts expect that Antero Midstream Corporation will post 1.13 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a $0.225 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 annualized dividend and a yield of 4.3%. Antero Midstream’s dividend payout ratio is 104.65%.

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.