Antero Midstream Corporation $AM Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Antero Midstream Corporation by 4.8%, acquiring an additional 99,729 shares, now holding a total of 2,185,426 shares valued at approximately $39.34 million.
• Antero Midstream reported a quarterly EPS of $0.26, surpassing expectations, with a revenue increase of 13.2% year-over-year, totaling $305.47 million.
• The company announced a quarterly dividend of $0.225 per share, reflecting a 5.1% dividend yield and a payout ratio of 94.74%.

American Century Companies Inc. increased its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,185,426 shares of the pipeline company's stock after purchasing an additional 99,729 shares during the quarter. American Century Companies Inc. owned approximately 0.46% of Antero Midstream worth $39,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AM. Ethic Inc. raised its stake in shares of Antero Midstream by 13.2% in the first quarter. Ethic Inc. now owns 141,153 shares of the pipeline company's stock worth $2,579,000 after purchasing an additional 16,499 shares during the last quarter. Brandywine Global Investment Management LLC boosted its stake in shares of Antero Midstream by 15.8% in the first quarter. Brandywine Global Investment Management LLC now owns 801,621 shares of the pipeline company's stock worth $14,429,000 after acquiring an additional 109,248 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Antero Midstream by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company's stock worth $164,653,000 after acquiring an additional 34,596 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Antero Midstream by 24.0% in the first quarter. Sei Investments Co. now owns 42,230 shares of the pipeline company's stock worth $699,000 after acquiring an additional 8,172 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its stake in shares of Antero Midstream by 100.0% in the first quarter. Vestmark Advisory Solutions Inc. now owns 31,296 shares of the pipeline company's stock worth $563,000 after acquiring an additional 15,648 shares during the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AM has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Zacks Research raised Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. The Goldman Sachs Group lifted their price objective on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Wells Fargo & Company lifted their price objective on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $18.50.

Insider Activity

In other news, insider Sheri Pearce sold 39,155 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the transaction, the director directly owned 73,645 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.86% of the company's stock.

Antero Midstream Stock Up 1.1%

AM traded up $0.20 on Tuesday, hitting $17.78. 2,064,729 shares of the company were exchanged, compared to its average volume of 2,945,052. Antero Midstream Corporation has a twelve month low of $14.06 and a twelve month high of $19.08. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 18.71 and a beta of 0.97. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $17.93 and a two-hundred day moving average price of $17.60.

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

Antero Midstream Dividend Announcement

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

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.