Fifth Third Bancorp Buys 82,132 Shares of Antero Midstream Corporation $AM

Fifth Third Bancorp raised its stake in Antero Midstream Corporation (NYSE:AM) by 2,428.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,514 shares of the pipeline company’s stock after purchasing an additional 82,132 shares during the period. Fifth Third Bancorp’s holdings in Antero Midstream were worth $1,950,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Larson Financial Group LLC boosted its holdings in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after buying an additional 708 shares during the period. Arax Advisory Partners grew its stake in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after buying an additional 791 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after acquiring an additional 2,199 shares during the period. Root Financial Partners LLC raised its holdings in Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after acquiring an additional 537 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock worth $53,000 after acquiring an additional 2,224 shares during the last quarter. 53.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.92, for a total value 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. The trade was a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 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. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Antero Midstream Stock Performance

Shares of NYSE:AM opened at $22.86 on Thursday. Antero Midstream Corporation has a 12-month low of $16.77 and a 12-month high of $23.83. The company’s 50 day moving average price is $22.03 and its two-hundred day moving average price is $21.34. The firm has a market cap of $10.86 billion, a PE ratio of 26.58 and a beta of 0.64. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM) last released 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 business 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 firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities research analysts predict that Antero Midstream Corporation will post 1.1 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 104.65%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AM. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a report on Wednesday, April 22nd. UBS Group increased their target price on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 25th. Weiss Ratings cut Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and a consensus price target of $24.25.

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.