3,766,025 Shares in Antero Midstream Corporation $AM Purchased by Norges Bank

Key Points

• Norges Bank bought 3,766,025 shares of Antero Midstream in the fourth quarter, a position valued at about $67 million and equal to roughly 0.79% of the company.
• Antero Midstream reported quarterly EPS of $0.25, slightly below analysts’ expectations, while revenue came in at $314.21 million and rose 7.9% year over year.
• The company paid a quarterly dividend of $0.225 per share, translating to an annualized yield of 4.2%, even as insiders sold shares and analysts maintained an overall Hold rating with a $24 average price target.

Norges Bank purchased a new position in Antero Midstream Corporation (NYSE:AM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,766,025 shares of the pipeline company's stock, valued at approximately $66,998,000. Norges Bank owned approximately 0.79% of Antero Midstream at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC bought a new position in shares of Antero Midstream in the 4th quarter worth about $27,000. Larson Financial Group LLC increased its stake in shares of Antero Midstream by 68.1% in the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after acquiring an additional 708 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $39,000 after acquiring an additional 2,199 shares in the last quarter. Hantz Financial Services Inc. increased its stake in shares of Antero Midstream by 138.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company's stock worth $52,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake 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 worth $53,000 after acquiring an additional 2,224 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Stock Performance

AM opened at $21.54 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 25.04 and a beta of 0.66. The company's 50 day moving average is $21.80 and its 200 day moving average is $20.32. Antero Midstream Corporation has a 12-month low of $16.77 and a 12-month high of $23.83.

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

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. 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 the firm's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sheri Pearce sold 14,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the transaction, the insider directly owned 99,900 shares in the company, valued at approximately $2,273,724. The trade was a 12.29% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 213,269 shares of company stock worth $4,713,681. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reiterated a "buy (a-)" rating on shares of Antero Midstream in a research note on Wednesday. Morgan Stanley upgraded shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price objective for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group raised their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. Wells Fargo & Company raised their price objective on shares of Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. Finally, UBS Group raised 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. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $24.00.

Antero Midstream 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.

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