Connor Clark & Lunn Investment Management Ltd. Lowers Stock Position in Antero Midstream Corporation $AM

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 34.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 247,387 shares of the pipeline company’s stock after selling 129,984 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Antero Midstream were worth $4,688,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Antero Midstream by 1.6% during the second quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock worth $722,000 after buying an additional 610 shares during the period. Impact Partnership Wealth LLC bought a new position in shares of Antero Midstream in the 1st quarter worth $306,000. Amundi lifted its stake in shares of Antero Midstream by 3,121.9% during the 1st quarter. Amundi now owns 125,913 shares of the pipeline company’s stock worth $2,263,000 after purchasing an additional 122,005 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Antero Midstream by 12.3% during the first quarter. Envestnet Asset Management Inc. now owns 553,317 shares of the pipeline company’s stock valued at $9,960,000 after purchasing an additional 60,582 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in Antero Midstream in the first quarter valued at about $8,402,000. Institutional investors own 53.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AM. The Goldman Sachs Group increased their price target on shares of Antero Midstream from $15.50 to $17.50 and gave the company a “neutral” rating in a research report on Monday, August 18th. Morgan Stanley boosted their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research note on Wednesday. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Finally, Weiss Ratings downgraded Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Antero Midstream has an average rating of “Hold” and an average price target of $18.83.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the transaction, the insider directly owned 106,489 shares of the company’s stock, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.

Antero Midstream Stock Down 0.0%

AM stock opened at $17.91 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a 52 week low of $14.22 and a 52 week high of $19.82. The stock has a market capitalization of $8.53 billion, a PE ratio of 18.27 and a beta of 0.88. The firm has a 50 day moving average of $18.35 and a 200 day moving average of $18.16.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Antero Midstream had a net margin of 40.07% and a return on equity of 22.53%. The business had revenue of $294.82 million during the quarter, compared to analysts’ expectations of $287.30 million. During the same quarter last year, the company posted $0.21 earnings per share. The business’s quarterly revenue was down 8.4% on a year-over-year basis. Sell-side analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. Antero Midstream’s payout ratio is currently 91.84%.

About Antero Midstream

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.