Bank of New York Mellon Corp Buys 1,430,138 Shares of Antero Midstream Corporation $AM

Bank of New York Mellon Corp increased its stake in shares of Antero Midstream Corporation (NYSE:AM) by 22.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,848,461 shares of the pipeline company’s stock after purchasing an additional 1,430,138 shares during the quarter. Bank of New York Mellon Corp’s holdings in Antero Midstream were worth $152,574,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Antero Midstream by 0.8% during the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock valued at $3,256,000 after buying an additional 1,371 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Antero Midstream by 174.9% during the 1st quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock worth $1,508,000 after acquiring an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after acquiring an additional 1,400,368 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Antero Midstream by 4.8% in the first 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 acquiring an additional 43,335 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in Antero Midstream by 5.4% in the second quarter. Janney Montgomery Scott LLC now owns 61,196 shares of the pipeline company’s stock worth $1,160,000 after purchasing an additional 3,147 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AM. Morgan Stanley increased their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. Zacks Research upgraded Antero Midstream from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 2nd. Wells Fargo & Company upped their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, December 23rd. Finally, Wall Street Zen lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.17.

Insider Buying and Selling

In other news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the sale, the director directly owned 72,622 shares of the company’s stock, valued at $1,277,420.98. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.

Antero Midstream Stock Up 0.5%

Antero Midstream stock opened at $18.82 on Friday. The business’s 50-day simple moving average is $18.00 and its two-hundred day simple moving average is $18.06. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $8.96 billion, a PE ratio of 19.20 and a beta of 0.80. Antero Midstream Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $19.82.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, October 29th. The pipeline company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The firm had revenue of $294.82 million during the quarter, compared to the consensus estimate of $287.30 million. Antero Midstream had a return on equity of 22.61% and a net margin of 40.07%.The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share. Equities analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, January 28th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. Antero Midstream’s dividend payout ratio (DPR) is currently 91.84%.

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.