Pacer Advisors Inc. Sells 1,867,833 Shares of Antero Midstream Corporation $AM

Pacer Advisors Inc. lowered its position in shares of Antero Midstream Corporation (NYSE:AM) by 55.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,523,061 shares of the pipeline company’s stock after selling 1,867,833 shares during the quarter. Pacer Advisors Inc.’s holdings in Antero Midstream were worth $34,726,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AM. Arax Advisory Partners raised its stake in shares of Antero Midstream by 83.9% during 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 holdings in shares of Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after purchasing an additional 708 shares during the period. Root Financial Partners LLC grew its stake in shares of Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 2,199 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased 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 valued at $53,000 after purchasing an additional 2,224 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on AM shares. Wells Fargo & Company upped their price target on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Monday. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $24.00 target price 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 note on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Antero Midstream has an average rating of “Hold” and a consensus price target of $24.50.

Antero Midstream Price Performance

Shares of NYSE AM opened at $22.02 on Tuesday. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The stock has a market capitalization of $10.45 billion, a P/E ratio of 26.21 and a beta of 0.65. The company’s 50-day moving average is $22.02 and its 200 day moving average is $21.60. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.84 and a quick ratio of 0.84.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s payout ratio is presently 107.14%.

Antero Midstream Company 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.