Bank of New York Mellon Corp Has $146.03 Million Stock Holdings in Antero Midstream Corporation $AM

Bank of New York Mellon Corp boosted its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,208,340 shares of the pipeline company’s stock after buying an additional 359,879 shares during the quarter. Bank of New York Mellon Corp’s holdings in Antero Midstream were worth $146,026,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Antero Midstream by 0.3% in the third quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company’s stock valued at $723,424,000 after purchasing an additional 124,102 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Antero Midstream by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after purchasing an additional 1,161,684 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Antero Midstream by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company’s stock valued at $179,316,000 after purchasing an additional 71,606 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after purchasing an additional 1,400,368 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Antero Midstream in the fourth quarter valued at about $66,998,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Antero Midstream

In related news, insider Yvette K. Schultz sold 69,269 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 580,565 shares of the company’s stock, valued at $12,714,373.50. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sheri Pearce sold 14,000 shares of Antero Midstream stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the sale, the insider directly owned 99,900 shares of the company’s stock, valued at $2,273,724. This represents a 12.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 213,269 shares of company stock worth $4,713,681. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on AM shares. UBS Group increased their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. 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 note on Tuesday, February 24th. Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday. Wells Fargo & Company raised their price target 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. Finally, Morgan Stanley upgraded 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 note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and an average price target of $24.00.

Antero Midstream Stock Performance

Shares of Antero Midstream stock opened at $21.54 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $10.23 billion, a P/E ratio of 25.04 and a beta of 0.66. The firm has a 50 day simple moving average of $21.80 and a 200 day simple moving average of $20.32. Antero Midstream Corporation has a fifty-two week low of $16.77 and a fifty-two 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 earnings per share 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 analyst estimates of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. Sell-side analysts predict that Antero Midstream Corporation will post 1.12 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were issued a $0.225 dividend. The ex-dividend date of this dividend 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%.

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.