Amundi Acquires 122,005 Shares of Antero Midstream Corporation $AM

Key Points

• Amundi significantly increased its stake in Antero Midstream Corporation by 3,121.9% during Q1, owning 125,913 shares valued at approximately $2.26 million after purchasing an additional 122,005 shares.
• The company's recent earnings report showed an EPS of $0.26, surpassing analysts' expectations, with revenues increasing 13.2% year-over-year to $305.47 million.
• Antero Midstream declared a quarterly dividend of $0.225 per share, yielding 4.9%, with a high dividend payout ratio of 94.74%.

Amundi boosted its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 3,121.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 125,913 shares of the pipeline company's stock after acquiring an additional 122,005 shares during the quarter. Amundi's holdings in Antero Midstream were worth $2,263,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Perbak Capital Partners LLP bought a new position in shares of Antero Midstream during the 1st quarter valued at $363,000. PDT Partners LLC raised its holdings in Antero Midstream by 43.9% during the first quarter. PDT Partners LLC now owns 570,672 shares of the pipeline company's stock valued at $10,272,000 after buying an additional 174,162 shares in the last quarter. Royal Bank of Canada raised its holdings in Antero Midstream by 0.8% during the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company's stock valued at $3,256,000 after buying an additional 1,371 shares in the last quarter. Brasada Capital Management LP bought a new position in Antero Midstream during the first quarter valued at about $540,000. Finally, Baird Financial Group Inc. raised its holdings in Antero Midstream by 9.0% during the first quarter. Baird Financial Group Inc. now owns 18,117 shares of the pipeline company's stock valued at $326,000 after buying an additional 1,500 shares in the last quarter. Institutional investors own 53.97% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AM shares. Zacks Research raised Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. 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 report on Monday, August 18th. Finally, 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 report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $18.50.

Antero Midstream Stock Performance

AM stock traded up $0.21 on Wednesday, reaching $18.52. 2,439,308 shares of the company were exchanged, compared to its average volume of 2,182,724. Antero Midstream Corporation has a 12 month low of $14.22 and a 12 month high of $19.08. The stock's fifty day moving average price is $17.88 and its 200 day moving average price is $17.78. The firm has a market capitalization of $8.86 billion, a PE ratio of 19.49 and a beta of 0.92. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03.

Antero Midstream (NYSE:AM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $292.70 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Antero Midstream's revenue was up 13.2% compared to the same quarter last year. On average, research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently declared 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 4.9%. The ex-dividend date was Wednesday, July 23rd. Antero Midstream's payout ratio is currently 94.74%.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of the business'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 transaction, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is owned by corporate insiders.

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.