Antero Midstream Corporation $AM Stock Position Reduced by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in shares of Antero Midstream Corporation (NYSE:AM) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,075,910 shares of the pipeline company’s stock after selling 1,137,274 shares during the period. Vanguard Group Inc. owned about 0.08% of Antero Midstream worth $641,790,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Richardson Financial Services Inc. grew its position in Antero Midstream by 330.2% in the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company’s stock worth $25,000 after acquiring an additional 994 shares in the last quarter. Root Financial Partners LLC acquired a new position in Antero Midstream during the 3rd quarter valued at $25,000. Quent Capital LLC acquired a new position in Antero Midstream during the 3rd quarter valued at $28,000. Elevation Wealth Partners LLC acquired a new position in Antero Midstream during the 4th quarter valued at $27,000. Finally, Global Retirement Partners LLC raised its stake in Antero Midstream by 33.3% during the 3rd quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company’s stock valued at $44,000 after purchasing an additional 565 shares during the last quarter. 53.97% of the stock is owned by institutional investors.

Antero Midstream Trading Up 0.2%

Shares of NYSE:AM opened at $21.74 on Monday. The company’s fifty day simple moving average is $22.36 and its 200 day simple moving average is $19.70. Antero Midstream Corporation has a 12 month low of $16.77 and a 12 month high of $23.83. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 25.27 and a beta of 0.68. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm 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 firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, research analysts forecast that Antero Midstream Corporation will post 1.13 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Insider Activity

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sheri Pearce sold 14,000 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the transaction, the insider directly owned 99,900 shares of the company’s stock, valued at $2,273,724. This represents a 12.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 44,000 shares of company stock worth $1,004,690 over the last ninety days. Insiders own 0.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AM shares. UBS Group boosted their price target on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 25th. Weiss Ratings raised shares of Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 6th. The Goldman Sachs Group increased their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a research report on Wednesday, April 22nd. Finally, Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and an average price target of $24.00.

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.