American Century Companies Inc. Buys 99,729 Shares of Antero Midstream Corporation $AM

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. lifted its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,185,426 shares of the pipeline company's stock after acquiring an additional 99,729 shares during the quarter. American Century Companies Inc. owned 0.46% of Antero Midstream worth $39,338,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Transce3nd LLC purchased a new stake in shares of Antero Midstream in the first quarter valued at about $29,000. UMB Bank n.a. increased its stake 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 buying an additional 2,188 shares during the period. TD Waterhouse Canada Inc. increased its stake 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 buying an additional 963 shares during the period. GAMMA Investing LLC increased its stake 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 buying an additional 2,165 shares during the period. Finally, CWM LLC increased its stake in Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after buying an additional 629 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Antero Midstream Stock Up 0.4%

Shares of NYSE AM traded up $0.0750 during midday trading on Tuesday, reaching $17.6550. The company's stock had a trading volume of 242,184 shares, compared to its average volume of 3,093,565. 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 fifty-two week low of $14.06 and a fifty-two week high of $19.08. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 18.60 and a beta of 0.97. The stock has a 50 day simple moving average of $17.94 and a 200-day simple moving average of $17.59.

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

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $0.225 dividend. 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 is 94.74%.

Insider Activity

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business's 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 directly owned 73,645 shares in the company, valued at $1,390,417.60. The trade was a 6.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sheri Pearce sold 39,155 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. This trade represents a 26.88% 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 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.