Jennison Associates LLC Acquires 579,191 Shares of Antero Midstream Co. (NYSE:AM)

Jennison Associates LLC grew its stake in Antero Midstream Co. (NYSE:AM) by 128.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,031,526 shares of the pipeline company’s stock after purchasing an additional 579,191 shares during the quarter. Jennison Associates LLC’s holdings in Antero Midstream were worth $15,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Antero Midstream in the third quarter valued at approximately $38,000. Financial Management Professionals Inc. grew its stake in shares of Antero Midstream by 58.6% in the fourth quarter. Financial Management Professionals Inc. now owns 2,706 shares of the pipeline company’s stock valued at $41,000 after buying an additional 1,000 shares in the last quarter. Blue Trust Inc. increased its holdings in Antero Midstream by 149.4% during the third quarter. Blue Trust Inc. now owns 3,100 shares of the pipeline company’s stock worth $46,000 after buying an additional 1,857 shares during the last quarter. Brooklyn Investment Group bought a new stake in Antero Midstream during the third quarter worth $48,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Antero Midstream by 21.9% in the third quarter. Abich Financial Wealth Management LLC now owns 4,545 shares of the pipeline company’s stock valued at $68,000 after acquiring an additional 818 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Antero Midstream Price Performance

Shares of AM opened at $16.32 on Thursday. The company’s 50-day moving average is $15.58 and its 200-day moving average is $15.12. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $7.85 billion, a PE ratio of 20.14 and a beta of 2.31. Antero Midstream Co. has a fifty-two week low of $11.58 and a fifty-two week high of $16.86.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.90 annualized dividend and a yield of 5.52%. Antero Midstream’s dividend payout ratio (DPR) is presently 111.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of Antero Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock. in a research note on Wednesday, December 18th. StockNews.com upgraded Antero Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.