Legal & General Group Plc Purchases Shares of 483,752 Antero Midstream Corporation $AM

Legal & General Group Plc acquired a new position in shares of Antero Midstream Corporation (NYSE:AM) during the second quarter, HoldingsChannel reports. The institutional investor acquired 483,752 shares of the pipeline company’s stock, valued at approximately $11,005,000.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its stake in Antero Midstream by 0.8% in the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock valued at $3,256,000 after acquiring an additional 1,371 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Antero Midstream by 174.9% during the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock worth $1,508,000 after purchasing an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after purchasing an additional 1,400,368 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Antero Midstream by 4.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock valued at $17,029,000 after purchasing an additional 43,335 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Antero Midstream by 5.9% in the 2nd quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company’s stock valued at $344,000 after purchasing an additional 1,009 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider owned 83,900 shares of the company’s stock, valued at approximately $1,846,639. The trade was a 16.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the transaction, the director owned 68,204 shares in the company, valued at $1,450,699.08. The trade was a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Antero Midstream Stock Performance

Shares of AM opened at $22.44 on Tuesday. The stock has a market capitalization of $10.65 billion, a P/E ratio of 26.71 and a beta of 0.65. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The company’s fifty day moving average is $22.31 and its two-hundred day moving average is $22.08.

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

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were given a $0.225 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. Antero Midstream’s dividend payout ratio (DPR) is presently 107.14%.

Wall Street Analyst Weigh In

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

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.