96,000 Shares in Antero Midstream Corporation $AM Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in Antero Midstream Corporation (NYSE:AM) in the 1st quarter, Holdings Channel.com reports. The fund acquired 96,000 shares of the pipeline company’s stock, valued at approximately $2,189,000.

Other institutional investors have also recently modified their holdings of the company. Elevation Wealth Partners LLC bought a new stake in Antero Midstream during the fourth quarter worth about $27,000. Arax Advisory Partners increased its holdings in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after buying an additional 791 shares during the period. Larson Financial Group LLC increased its holdings in Antero Midstream by 68.1% in the 4th 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 period. Northwestern Mutual Wealth Management Co. raised its position in shares of Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after buying an additional 2,199 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after buying an additional 2,224 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Price Performance

Shares of NYSE:AM opened at $22.79 on Tuesday. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83. The firm has a market cap of $10.82 billion, a PE ratio of 26.50 and a beta of 0.66. The firm’s fifty day moving average is $21.62 and its 200-day moving average is $20.77.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.Antero Midstream’s revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Sell-side analysts predict that Antero Midstream Corporation will post 1.12 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Insider Buying and Selling at Antero Midstream

In related news, insider Yvette K. Schultz sold 69,269 shares of Antero Midstream stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares of the company’s stock, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of Antero Midstream stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the transaction, the insider owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. This represents a 6.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. 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 note on Wednesday, April 22nd. UBS Group lifted their price target on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Wells Fargo & Company boosted their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Finally, Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.00.

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.