Retirement Systems of Alabama Sells 1,909 Shares of Antero Midstream Corporation (NYSE:AM)

Retirement Systems of Alabama lessened its stake in shares of Antero Midstream Corporation (NYSE:AM) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,765 shares of the pipeline company’s stock after selling 1,909 shares during the quarter. Retirement Systems of Alabama owned about 0.09% of Antero Midstream worth $7,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in Antero Midstream by 170.8% in the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company’s stock valued at $62,000 after acquiring an additional 2,188 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Antero Midstream by 20.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company’s stock valued at $85,000 after acquiring an additional 963 shares in the last quarter. Allworth Financial LP lifted its position in Antero Midstream by 17.8% in the 4th quarter. Allworth Financial LP now owns 6,305 shares of the pipeline company’s stock valued at $104,000 after acquiring an additional 951 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Antero Midstream in the 4th quarter valued at about $119,000. Finally, Harvest Fund Management Co. Ltd lifted its position in Antero Midstream by 5,787.1% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 8,242 shares of the pipeline company’s stock valued at $124,000 after acquiring an additional 8,102 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

Antero Midstream stock opened at $18.38 on Tuesday. Antero Midstream Corporation has a 52 week low of $13.12 and a 52 week high of $19.09. The company’s 50 day moving average price is $18.00 and its two-hundred day moving average price is $16.87. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. The stock has a market cap of $8.81 billion, a P/E ratio of 21.12 and a beta of 1.03.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. Antero Midstream had a net margin of 37.35% and a return on equity of 19.75%. The firm had revenue of $291.13 million for the quarter, compared to analysts’ expectations of $277.79 million. During the same quarter last year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Shareholders of record on Wednesday, April 23rd were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, April 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.90%. Antero Midstream’s dividend payout ratio is currently 103.45%.

Insiders Place Their Bets

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the sale, the director now owns 73,645 shares in the company, valued at $1,390,417.60. This trade represents a 6.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AM. Wall Street Zen raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $17.00 price target (up previously from $16.00) on shares of Antero Midstream in a research report on Tuesday, June 3rd.

Antero Midstream Company Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.