Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Antero Midstream Corporation $AM

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Antero Midstream Corporation (NYSE:AM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,022,284 shares of the pipeline company’s stock, valued at approximately $46,007,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.43% of Antero Midstream at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of AM. Root Financial Partners LLC grew its position in shares of Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after buying an additional 537 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Antero Midstream by 2.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company’s stock valued at $489,000 after purchasing an additional 537 shares during the period. Hantz Financial Services Inc. grew its stake in Antero Midstream by 23.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock worth $59,000 after buying an additional 617 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Antero Midstream by 0.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock worth $2,148,000 after buying an additional 660 shares during the period. Finally, Larson Financial Group LLC lifted its stake in Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Activity

In related news, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares in the company, valued at $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the sale, the director directly owned 68,204 shares in the company, valued at $1,450,699.08. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Antero Midstream Trading Down 0.0%

Shares of AM stock opened at $22.14 on Tuesday. The business’s 50 day moving average is $22.24 and its two-hundred day moving average is $21.97. Antero Midstream Corporation has a twelve month low of $16.96 and a twelve month high of $23.83. The company has a market capitalization of $10.51 billion, a P/E ratio of 26.35 and a beta of 0.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The business had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $326.43 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s payout ratio is 107.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AM shares. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings downgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Antero Midstream has a consensus rating of “Hold” and an average price target of $24.50.

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.