Legal & General Group Plc Reduces Stake in Antero Midstream Corporation $AM

Legal & General Group Plc decreased its stake in shares of Antero Midstream Corporation (NYSE:AM) by 44.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 480,730 shares of the pipeline company’s stock after selling 379,670 shares during the period. Legal & General Group Plc’s holdings in Antero Midstream were worth $8,552,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its position in shares of Antero Midstream by 23.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company’s stock valued at $59,000 after acquiring an additional 617 shares during the period. State of New Jersey Common Pension Fund D boosted its position in shares of Antero Midstream by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company’s stock valued at $2,148,000 after acquiring an additional 660 shares during the period. Choreo LLC boosted its position in shares of Antero Midstream by 5.0% in the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company’s stock valued at $253,000 after acquiring an additional 679 shares during the period. GAMMA Investing LLC boosted its position in shares of Antero Midstream by 6.9% in the fourth quarter. GAMMA Investing LLC now owns 10,884 shares of the pipeline company’s stock valued at $194,000 after acquiring an additional 701 shares during the period. Finally, Larson Financial Group LLC boosted its position in shares of 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 acquiring an additional 708 shares during the period. 53.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group boosted their target price on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 25th. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a research report on Wednesday, April 22nd. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, March 6th. Wells Fargo & Company boosted their target price on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. Finally, The Goldman Sachs Group boosted their target price on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.00.

Antero Midstream Trading Up 1.4%

Shares of AM stock opened at $21.57 on Friday. The stock has a market capitalization of $10.24 billion, a PE ratio of 25.08 and a beta of 0.66. Antero Midstream Corporation has a 1-year low of $16.77 and a 1-year high of $23.83. The business has a 50-day moving average of $21.84 and a 200 day moving average of $20.31. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99.

Antero Midstream (NYSE:AM) last issued its earnings results 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 company had revenue of $314.21 million for the quarter, compared to analysts’ expectations of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, sell-side analysts anticipate that Antero Midstream Corporation will post 1.12 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream’s dividend payout ratio is presently 104.65%.

Insiders Place Their Bets

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the transaction, the director owned 69,680 shares of the company’s stock, valued at $1,613,788.80. This represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sheri Pearce sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total value of $318,640.00. Following the transaction, the insider directly owned 99,900 shares of the company’s stock, valued at $2,273,724. The trade was a 12.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 213,269 shares of company stock worth $4,713,681. 1.10% of the stock is currently owned by company insiders.

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.