Antero Midstream Corporation $AM Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC boosted its stake in shares of Antero Midstream Corporation (NYSE:AM) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,635,643 shares of the pipeline company’s stock after purchasing an additional 37,400 shares during the period. Clearbridge Investments LLC owned approximately 0.76% of Antero Midstream worth $64,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its position in Antero Midstream by 40.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock worth $9,812,000 after purchasing an additional 146,300 shares during the period. American Century Companies Inc. grew its position in Antero Midstream by 21.0% during the 3rd quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock worth $59,913,000 after purchasing an additional 535,245 shares during the period. Chickasaw Capital Management LLC grew its position in Antero Midstream by 11.7% during the 4th quarter. Chickasaw Capital Management LLC now owns 1,409,183 shares of the pipeline company’s stock worth $25,069,000 after purchasing an additional 147,250 shares during the period. Miller Howard Investments Inc. NY grew its position in Antero Midstream by 2.5% during the 4th quarter. Miller Howard Investments Inc. NY now owns 1,978,405 shares of the pipeline company’s stock worth $35,196,000 after purchasing an additional 47,817 shares during the period. Finally, CIBC Bancorp USA Inc. acquired a new stake in Antero Midstream during the 3rd quarter worth about $13,642,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AM shares. Morgan Stanley raised 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. Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a research report on Wednesday, June 3rd. UBS Group raised 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. Wells Fargo & Company raised their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. Finally, The Goldman Sachs Group raised their target price on Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Insider Activity at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the transaction, the director directly owned 69,680 shares of the company’s stock, valued at approximately $1,613,788.80. This trade represents a 6.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $2,192,000.00. Following the completion of the transaction, the insider directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 174,269 shares of company stock valued at $3,824,791. 1.10% of the stock is owned by corporate insiders.

Antero Midstream Price Performance

NYSE:AM opened at $21.31 on Tuesday. 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 stock has a market capitalization of $10.12 billion, a PE ratio of 24.77 and a beta of 0.66. The stock’s 50-day moving average price is $21.76 and its 200-day moving average price is $20.36.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. During the same quarter last year, the business earned $0.25 earnings per share. Antero Midstream’s revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Antero Midstream Corporation will post 1.12 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were paid a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream’s dividend payout ratio (DPR) is currently 104.65%.

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.