Antero Midstream Corporation $AM Shares Purchased by Advisors Asset Management Inc.

Key Points

• Advisors Asset Management Inc. increased its stake in Antero Midstream Corporation by 17.2% during the 1st quarter, now owning 515,020 shares worth approximately $9.27 million.
• Antero Midstream reported $0.26 EPS for the latest quarter, exceeding expectations, with revenue of $305.47 million, a 13.2% increase year-over-year.
• The company announced a quarterly dividend of $0.225 per share, resulting in an annualized dividend yield of 5.0%, with a payout ratio of 94.74%.

Advisors Asset Management Inc. increased its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 17.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 515,020 shares of the pipeline company's stock after purchasing an additional 75,633 shares during the quarter. Advisors Asset Management Inc. owned 0.11% of Antero Midstream worth $9,270,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Antero Midstream during the 1st quarter valued at about $529,000. Sequoia Financial Advisors LLC increased its holdings in Antero Midstream by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company's stock valued at $289,000 after acquiring an additional 975 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in Antero Midstream during the 1st quarter valued at about $459,000. KBC Group NV increased its holdings in Antero Midstream by 18.5% during the 1st quarter. KBC Group NV now owns 17,628 shares of the pipeline company's stock valued at $317,000 after acquiring an additional 2,757 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in Antero Midstream during the 1st quarter valued at about $495,000. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AM shares. Zacks Research upgraded shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Morgan Stanley lifted their price target 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. Finally, The Goldman Sachs Group lifted their price target 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 analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $18.50.

Antero Midstream Trading Up 0.7%

Shares of AM traded up $0.13 during mid-day trading on Tuesday, hitting $18.23. The company had a trading volume of 576,027 shares, compared to its average volume of 3,056,538. The business's 50-day simple moving average is $17.82 and its 200-day simple moving average is $17.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a 1-year low of $14.06 and a 1-year high of $19.08. The stock has a market cap of $8.72 billion, a PE ratio of 19.17 and a beta of 0.92.

Antero Midstream (NYSE:AM - Get Free Report) last released its 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 business had revenue of $305.47 million for the quarter, compared to analysts' expectations of $292.70 million. During the same period last year, the company earned $0.23 earnings per share. The company's quarterly revenue was up 13.2% on a year-over-year basis. Sell-side analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. Antero Midstream's dividend payout ratio (DPR) is currently 94.74%.

Insiders Place Their Bets

In other Antero Midstream 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 transaction of $685,604.05. Following the transaction, the insider directly owned 106,489 shares of the company's stock, 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 filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is currently owned by company insiders.

Antero Midstream 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.