Picton Mahoney Asset Management Acquires New Stake in Antero Midstream Corporation $AM

Picton Mahoney Asset Management purchased a new stake in Antero Midstream Corporation (NYSE:AM) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 45,728 shares of the pipeline company’s stock, valued at approximately $890,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AM. Victory Capital Management Inc. lifted its holdings in shares of Antero Midstream by 64.6% in the third quarter. Victory Capital Management Inc. now owns 556,708 shares of the pipeline company’s stock valued at $10,822,000 after purchasing an additional 218,559 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Antero Midstream during the third quarter worth approximately $356,000. American Century Companies Inc. lifted its stake in shares of Antero Midstream by 21.0% in the third quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock valued at $59,913,000 after buying an additional 535,245 shares during the period. Intech Investment Management LLC raised its stake in shares of Antero Midstream by 116.1% in the third quarter. Intech Investment Management LLC now owns 458,609 shares of the pipeline company’s stock valued at $8,915,000 after purchasing an additional 246,384 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Antero Midstream during the 3rd quarter valued at about $630,000. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insider Activity at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total transaction of $87,950.00. Following the sale, the director owned 72,622 shares of the company’s stock, valued at $1,277,420.98. This trade represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AM. The Goldman Sachs Group lifted their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Zacks Research downgraded shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wells Fargo & Company increased their price objective on shares of Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Finally, Morgan Stanley upped their target price on Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.33.

Antero Midstream Price Performance

Shares of Antero Midstream stock opened at $22.94 on Friday. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $10.85 billion, a price-to-earnings ratio of 26.67 and a beta of 0.77. Antero Midstream Corporation has a twelve month low of $15.07 and a twelve month high of $23.10. The company has a 50-day simple moving average of $19.59 and a two-hundred day simple moving average of $18.63.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04. The firm had revenue of $297.00 million for the quarter, compared to analyst estimates of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. Analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were paid a $0.225 dividend. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 3.9%. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

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.