Algert Global LLC Acquires New Shares in Antero Midstream Corporation $AM

Key Points

• Algert Global LLC acquired a new stake of approximately 481,300 shares in Antero Midstream Corporation during the first quarter, valued at around $8.66 million.
• Analysts have recently upgraded their price targets for Antero Midstream, with Morgan Stanley and Wells Fargo raising theirs from $17.00 to $19.00, while Wall Street Zen upgraded the stock from "hold" to "buy."
• Antero Midstream declared a quarterly dividend of $0.225 per share, with a yield of 5.0%, indicating strong returns for shareholders despite a high payout ratio of 94.74%.

Algert Global LLC purchased a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 481,300 shares of the pipeline company's stock, valued at approximately $8,663,000. Algert Global LLC owned approximately 0.10% of Antero Midstream as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Transce3nd LLC bought a new position in Antero Midstream in the 1st quarter valued at about $29,000. UMB Bank n.a. lifted its position in Antero Midstream by 170.8% in the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock valued at $62,000 after acquiring an additional 2,188 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Antero Midstream by 20.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock valued at $85,000 after acquiring an additional 963 shares in the last quarter. GAMMA Investing LLC lifted its position in Antero Midstream by 34.0% in the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock valued at $154,000 after acquiring an additional 2,165 shares in the last quarter. Finally, CWM LLC lifted its position in Antero Midstream by 7.1% in the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock valued at $170,000 after acquiring an additional 629 shares in the last quarter. Institutional investors own 53.97% of the company's stock.

Insider Activity at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of Antero Midstream stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the transaction, the director owned 73,645 shares of the company's stock, valued at $1,390,417.60. This represents a 6.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Zacks Research raised shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Morgan Stanley lifted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Antero Midstream presently has a consensus rating of "Hold" and a consensus target price of $18.50.

Antero Midstream Stock Performance

Shares of AM stock traded down $0.0220 during trading hours on Friday, hitting $17.6880. 2,360,843 shares of the company were exchanged, compared to its average volume of 3,006,691. The firm has a fifty day simple moving average of $17.95 and a 200 day simple moving average of $17.56. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a 52-week low of $14.06 and a 52-week high of $19.08. The stock has a market capitalization of $8.46 billion, a price-to-earnings ratio of 18.62 and a beta of 0.97.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The company had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. During the same quarter last year, the business posted $0.23 EPS. Antero Midstream's quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 5.1%. Antero Midstream's dividend payout ratio (DPR) is presently 94.74%.

Antero Midstream Company 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.