Cetera Investment Advisers Purchases 77,936 Shares of Antero Midstream Corporation $AM

Cetera Investment Advisers raised its position in shares of Antero Midstream Corporation (NYSE:AM) by 9.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 867,200 shares of the pipeline company’s stock after purchasing an additional 77,936 shares during the quarter. Cetera Investment Advisers’ holdings in Antero Midstream were worth $19,772,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Antero Midstream by 0.8% during the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock worth $3,256,000 after acquiring an additional 1,371 shares in the last quarter. AQR Capital Management LLC lifted its position in Antero Midstream by 174.9% during the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock valued at $1,508,000 after purchasing an additional 53,281 shares during the last quarter. Goldman Sachs Group Inc. lifted its position 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 valued at $69,739,000 after purchasing an additional 1,400,368 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Antero Midstream by 4.8% in the 1st 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 buying an additional 43,335 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Antero Midstream by 5.9% in the 2nd quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock worth $344,000 after buying an additional 1,009 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Analysts Set New Price Targets

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

Antero Midstream Price Performance

Shares of AM stock opened at $21.99 on Tuesday. The company has a market capitalization of $10.45 billion, a P/E ratio of 25.57 and a beta of 0.64. The company’s 50-day simple moving average is $22.06 and its two-hundred day simple moving average is $21.44. Antero Midstream Corporation has a one year low of $16.77 and a one year high of $23.83. 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 announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The firm had revenue of $314.21 million for the quarter, compared to analysts’ expectations of $311.30 million. During the same quarter in the prior year, the business posted $0.25 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that Antero Midstream Corporation will post 1.1 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 104.65%.

Insider Buying and Selling

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the sale, 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 disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

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.