Bank of New York Mellon Corp Raises Stake in Antero Midstream Corporation $AM

Bank of New York Mellon Corp grew its stake in Antero Midstream Corporation (NYSE:AM) by 11.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,129,288 shares of the pipeline company’s stock after acquiring an additional 920,948 shares during the quarter. Bank of New York Mellon Corp’s holdings in Antero Midstream were worth $208,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC bought a new position in shares of Antero Midstream during the fourth quarter valued at $27,000. Arax Advisory Partners increased its position in shares of Antero Midstream by 83.9% during the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 791 shares during the last quarter. Larson Financial Group LLC increased its holdings in Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares during the last quarter. Root Financial Partners LLC increased its stake in shares of Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after buying an additional 2,199 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Stock Performance

AM stock opened at $22.59 on Friday. The firm has a 50-day simple moving average of $21.95 and a two-hundred day simple moving average of $21.21. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. Antero Midstream Corporation has a one year low of $16.77 and a one year high of $23.83. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 26.26 and a beta of 0.64.

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). The business had revenue of $314.21 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted $0.25 EPS. On average, equities analysts forecast that Antero Midstream Corporation will post 1.1 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. Antero Midstream’s payout ratio is currently 104.65%.

Analyst Ratings Changes

A number of brokerages have issued reports on AM. Morgan Stanley upgraded 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. Weiss Ratings cut Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a report on Tuesday. Finally, UBS Group boosted their target price on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $24.25.

Insider Activity at Antero Midstream

In other news, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This trade represents a 6.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction dated 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 directly owned 580,565 shares of the company’s stock, valued at $12,714,373.50. This represents a 10.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

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.