Allianz Asset Management GmbH Sells 113,876 Shares of Antero Midstream Corporation (NYSE:AM)

Allianz Asset Management GmbH lowered its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 55.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,424 shares of the pipeline company's stock after selling 113,876 shares during the period. Allianz Asset Management GmbH's holdings in Antero Midstream were worth $1,646,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Transce3nd LLC acquired a new position in Antero Midstream in the first quarter worth approximately $29,000. UMB Bank n.a. grew its position in Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after purchasing an additional 2,188 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Antero Midstream by 20.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock worth $85,000 after purchasing an additional 963 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Antero Midstream during the 4th quarter worth approximately $119,000. Finally, GAMMA Investing LLC grew its position in Antero Midstream by 34.0% during the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after purchasing an additional 2,165 shares in the last quarter. Institutional investors own 53.97% of the company's stock.

Wall Street Analysts Forecast Growth

AM has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective 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. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Morgan Stanley restated an "underweight" rating and set a $17.00 price target (up from $16.00) on shares of Antero Midstream in a report on Tuesday, June 3rd.

Antero Midstream Stock Up 1.0%

Shares of AM stock traded up $0.18 on Friday, hitting $18.53. The company's stock had a trading volume of 4,249,913 shares, compared to its average volume of 2,706,692. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.42. Antero Midstream Corporation has a fifty-two week low of $13.12 and a fifty-two week high of $19.08. The firm's fifty day moving average price is $18.10 and its 200-day moving average price is $17.38. The stock has a market capitalization of $8.88 billion, a price-to-earnings ratio of 19.51 and a beta of 0.97.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. During the same quarter in the previous year, the business earned $0.23 EPS. Antero Midstream's quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Wednesday, July 23rd. Antero Midstream's payout ratio is presently 94.74%.

Insider Activity

In related news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the sale, the director owned 73,645 shares of the company's stock, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company's stock.

About Antero Midstream

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.