California Public Employees Retirement System Buys 41,621 Shares of Antero Midstream Corporation $AM

California Public Employees Retirement System lifted its stake in Antero Midstream Corporation (NYSE:AM) by 6.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 698,788 shares of the pipeline company’s stock after buying an additional 41,621 shares during the quarter. California Public Employees Retirement System’s holdings in Antero Midstream were worth $15,932,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada boosted its stake in Antero Midstream by 0.8% in the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock valued at $3,256,000 after buying an additional 1,371 shares in the last quarter. AQR Capital Management LLC grew its position in Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock valued at $1,508,000 after acquiring an additional 53,281 shares during the period. Goldman Sachs Group Inc. raised its stake in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Antero Midstream by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock worth $17,029,000 after acquiring an additional 43,335 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Antero Midstream by 5.9% during the second quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock valued at $344,000 after acquiring an additional 1,009 shares during the period. Institutional investors own 53.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AM. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research note on Tuesday, July 14th. Weiss Ratings cut shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. Finally, Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Antero Midstream currently has an average rating of “Hold” and an average target price of $24.25.

Antero Midstream Stock Up 0.7%

NYSE AM opened at $23.01 on Friday. The stock’s 50 day simple moving average is $22.05 and its 200 day simple moving average is $21.37. 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 $10.93 billion, a PE ratio of 26.76 and a beta of 0.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data 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 business had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.Antero Midstream’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. As a group, sell-side analysts forecast that Antero Midstream Corporation will post 1.1 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s payout ratio is currently 104.65%.

Insider Activity

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This trade represents a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the insider directly owned 580,565 shares of the company’s stock, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by corporate insiders.

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.