Financiere des Professionnels Fonds d investissement inc. Buys New Position in Antero Midstream Corporation $AM

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Antero Midstream Corporation (NYSE:AM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,281 shares of the pipeline company’s stock, valued at approximately $690,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Antero Midstream by 3.4% in the fourth quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after buying an additional 776,791 shares during the last quarter. State Street Corp grew its position in shares of Antero Midstream by 1.7% during the fourth quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after acquiring an additional 187,912 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after acquiring an additional 1,161,684 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Antero Midstream by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after acquiring an additional 920,948 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after purchasing an additional 1,400,368 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Antero Midstream Stock Down 1.2%

AM opened at $22.59 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The business has a 50 day simple moving average of $21.95 and a 200-day simple moving average of $21.21. The stock has a market capitalization of $10.73 billion, a P/E ratio of 26.26 and a beta of 0.64. Antero Midstream Corporation has a 12 month low of $16.77 and a 12 month high of $23.83.

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

Antero Midstream Announces Dividend

The business also recently announced 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. This represents a $0.90 annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 104.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AM. Weiss Ratings cut shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. UBS Group lifted their price objective on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Antero Midstream presently has a consensus rating of “Hold” and an average price target of $24.25.

Insider Transactions at Antero Midstream

In other news, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the sale, the insider owned 580,565 shares of the company’s stock, valued at $12,714,373.50. The trade was a 10.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company’s stock.

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.