Livforsakringsbolaget Skandia Omsesidigt Takes $685,000 Position in Antero Midstream Corporation $AM

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Antero Midstream Corporation (NYSE:AM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,500 shares of the pipeline company’s stock, valued at approximately $685,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vise Technologies Inc. bought a new position in shares of Antero Midstream during the fourth quarter valued at $217,000. Bank of New York Mellon Corp lifted its holdings in Antero Midstream by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,208,340 shares of the pipeline company’s stock valued at $146,026,000 after acquiring an additional 359,879 shares during the period. Kesler Norman & Wride LLC bought a new position in Antero Midstream in the fourth quarter valued at about $939,000. BNP Paribas Financial Markets lifted its holdings in Antero Midstream by 19.0% in the fourth quarter. BNP Paribas Financial Markets now owns 1,592,910 shares of the pipeline company’s stock valued at $28,338,000 after acquiring an additional 254,088 shares during the period. Finally, Norges Bank bought a new position in Antero Midstream in the fourth quarter valued at about $66,998,000. 53.97% of the stock is owned by institutional investors.

Antero Midstream Stock Performance

Shares of AM opened at $21.54 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. The business has a 50-day simple moving average of $21.80 and a two-hundred day simple moving average of $20.32. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 25.04 and a beta of 0.66. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83.

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

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were given a $0.225 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream’s dividend payout ratio is presently 104.65%.

Insider Buying and Selling

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares in the company, valued at $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the sale, the director owned 69,680 shares of the company’s stock, valued at approximately $1,613,788.80. The trade was a 6.70% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 213,269 shares of company stock worth $4,713,681. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Antero Midstream Company 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.