BI Asset Management Fondsmaeglerselskab A S Purchases 258,847 Shares of Antero Midstream Corporation $AM

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 225.1% during the first quarter, HoldingsChannel.com reports. The firm owned 373,838 shares of the pipeline company’s stock after acquiring an additional 258,847 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Antero Midstream were worth $8,524,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Elevation Wealth Partners LLC acquired a new stake in shares of Antero Midstream during the 4th quarter worth approximately $27,000. Arax Advisory Partners boosted its stake in Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 791 shares during the last quarter. Larson Financial Group LLC boosted its stake in Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after acquiring an additional 708 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Antero Midstream by 219,900.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after acquiring an additional 2,199 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Antero Midstream by 401.4% during the 2nd 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 period. Institutional investors own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. The Goldman Sachs Group lifted their price objective on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. 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. Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. Finally, UBS Group raised their target price on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Insider Transactions at Antero Midstream

In related 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 value of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. The trade was a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock in a transaction that occurred 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 directly owned 580,565 shares of the company’s stock, valued at approximately $12,714,373.50. The trade was a 10.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company’s stock.

Antero Midstream Price Performance

Shares of AM stock opened at $21.70 on Monday. Antero Midstream Corporation has a 12-month low of $16.77 and a 12-month high of $23.83. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 25.23 and a beta of 0.66. 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 fifty day moving average of $21.52 and a 200-day moving average of $20.60.

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 business had revenue of $314.21 million for 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%.The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. On average, equities research analysts forecast that Antero Midstream Corporation will post 1.12 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s dividend payout ratio is 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.