Dimensional Fund Advisors LP Cuts Stock Holdings in Antero Midstream Corporation $AM

Dimensional Fund Advisors LP reduced its stake in Antero Midstream Corporation (NYSE:AM) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,016,816 shares of the pipeline company’s stock after selling 223,380 shares during the quarter. Dimensional Fund Advisors LP owned about 1.90% of Antero Midstream worth $205,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Root Financial Partners LLC raised its position in shares of Antero Midstream by 36.4% during the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after buying an additional 537 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Antero Midstream by 23.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock valued at $59,000 after buying an additional 617 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Antero Midstream by 0.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock worth $2,148,000 after buying an additional 660 shares during the last quarter. Choreo LLC grew its position in Antero Midstream by 5.0% during the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock valued at $253,000 after acquiring an additional 679 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Antero Midstream by 6.9% during the fourth quarter. GAMMA Investing LLC now owns 10,884 shares of the pipeline company’s stock worth $194,000 after acquiring an additional 701 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Trading Down 1.2%

NYSE:AM opened at $22.75 on Friday. The company has a fifty day moving average of $22.07 and a 200 day moving average of $21.38. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $10.80 billion, a P/E ratio of 26.45 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 firm had revenue of $314.21 million for the quarter, compared to the consensus estimate 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 was up 7.9% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. On average, research analysts predict that Antero Midstream Corporation will post 1.1 earnings per share for the current year.

Antero Midstream Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. One 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, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.25.

Insider Buying and Selling

In other news, insider Michael N. Kennedy sold 100,000 shares of the business’s 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 directly owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. The trade was a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 company’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 transaction, the insider owned 580,565 shares of the company’s stock, valued at approximately $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.

About Antero Midstream

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.