Antero Midstream Corporation $AM Stock Holdings Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in Antero Midstream Corporation (NYSE:AM) by 172.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 162,271 shares of the pipeline company’s stock after acquiring an additional 102,671 shares during the period. Hsbc Holdings PLC’s holdings in Antero Midstream were worth $3,713,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after purchasing an additional 776,791 shares during the period. State Street Corp increased its stake in shares of Antero Midstream by 1.7% in the fourth quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock valued at $201,691,000 after purchasing an additional 187,912 shares during the period. Geode Capital Management LLC increased its stake in shares of Antero Midstream by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after purchasing an additional 1,161,684 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Antero Midstream by 4.6% during the fourth quarter. Bank of New York Mellon Corp now owns 8,208,340 shares of the pipeline company’s stock valued at $146,026,000 after buying an additional 359,879 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of 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 buying an additional 1,400,368 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Antero Midstream news, insider Yvette K. Schultz sold 69,269 shares of the company’s 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 completion of the sale, the insider directly owned 580,565 shares in the company, valued at $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.92, for a total value 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

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

Antero Midstream Stock Performance

Shares of AM opened at $22.75 on Friday. The firm has a market capitalization of $10.80 billion, a PE ratio of 26.45 and a beta of 0.64. 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 50-day moving average price of $22.07 and a 200 day moving average price of $21.38. Antero Midstream Corporation has a 52-week low of $16.77 and a 52-week high of $23.83.

Antero Midstream (NYSE:AM) last released its quarterly 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). The company had revenue of $314.21 million for the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.25 earnings per share. On average, sell-side analysts anticipate that Antero Midstream Corporation will post 1.1 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

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