First Trust Advisors LP Has $23.16 Million Holdings in Antero Midstream Corporation $AM

First Trust Advisors LP raised its holdings in Antero Midstream Corporation (NYSE:AM) by 2.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,015,553 shares of the pipeline company’s stock after purchasing an additional 28,774 shares during the quarter. First Trust Advisors LP’s holdings in Antero Midstream were worth $23,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its position in shares of Antero Midstream by 2.6% in the first quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company’s stock valued at $489,000 after buying an additional 537 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Antero Midstream by 16.0% during the 1st quarter. Parallel Advisors LLC now owns 14,685 shares of the pipeline company’s stock worth $335,000 after acquiring an additional 2,029 shares during the last quarter. KBC Group NV increased its holdings in shares of Antero Midstream by 16.7% during the 1st quarter. KBC Group NV now owns 12,066 shares of the pipeline company’s stock worth $275,000 after acquiring an additional 1,723 shares during the last quarter. Jennison Associates LLC raised its stake in Antero Midstream by 4.3% in the 1st quarter. Jennison Associates LLC now owns 1,070,122 shares of the pipeline company’s stock valued at $24,399,000 after acquiring an additional 43,982 shares during the period. Finally, California Public Employees Retirement System raised its stake in Antero Midstream by 6.3% in the 1st quarter. California Public Employees Retirement System now owns 698,788 shares of the pipeline company’s stock valued at $15,932,000 after acquiring an additional 41,621 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AM. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a report on Wednesday, April 22nd. Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Finally, The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $24.25.

Antero Midstream Trading Down 0.7%

Shares of NYSE:AM opened at $21.59 on Thursday. Antero Midstream Corporation has a 12-month low of $16.84 and a 12-month high of $23.83. The stock has a market cap of $10.26 billion, a PE ratio of 25.11 and a beta of 0.64. The business has a 50 day moving average of $22.04 and a 200-day moving average of $21.51. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The firm had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts forecast that Antero Midstream Corporation will post 1.1 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.2%. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

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.