Antero Midstream Corporation $AM Position Increased by Jennison Associates LLC

Jennison Associates LLC grew its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 4.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,070,122 shares of the pipeline company’s stock after purchasing an additional 43,982 shares during the period. Jennison Associates LLC’s holdings in Antero Midstream were worth $24,399,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AM. California Public Employees Retirement System grew its position in shares of Antero Midstream by 6.3% during the 1st quarter. California Public Employees Retirement System now owns 698,788 shares of the pipeline company’s stock valued at $15,932,000 after buying an additional 41,621 shares during the last quarter. Kesler Norman & Wride LLC lifted its holdings in Antero Midstream by 1.9% in the first quarter. Kesler Norman & Wride LLC now owns 53,765 shares of the pipeline company’s stock worth $1,226,000 after acquiring an additional 985 shares during the last quarter. Assetmark Inc. boosted its stake in Antero Midstream by 2,115.2% in the first quarter. Assetmark Inc. now owns 40,538 shares of the pipeline company’s stock valued at $924,000 after acquiring an additional 38,708 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Antero Midstream in the first quarter valued at approximately $690,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Antero Midstream by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after purchasing an additional 920,948 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AM has been the topic of a number of research reports. UBS Group increased their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 25th. 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 research report on Wednesday, April 22nd. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.25.

Insider Activity at Antero Midstream

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction on 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 owned 580,565 shares in the company, valued at approximately $12,714,373.50. The trade was a 10.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $32,893,020.48. The trade was a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by company insiders.

Antero Midstream Trading Down 0.0%

Antero Midstream stock opened at $22.58 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 firm has a market capitalization of $10.73 billion, a price-to-earnings ratio of 26.26 and a beta of 0.64. The firm has a 50-day moving average price of $21.98 and a two-hundred day moving average price of $21.27.

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). The firm had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. Antero Midstream’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. Sell-side analysts expect that Antero Midstream Corporation will post 1.1 earnings per share for the current year.

Antero Midstream Dividend Announcement

The firm also recently disclosed 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 yield of 4.0%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s dividend payout ratio is 104.65%.

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.