Antero Midstream Corporation $AM Shares Acquired by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. has increased its stake in Antero Midstream Corporation by 211.9%, acquiring a total of 78,604 shares valued at approximately $1.49 million.
• Multiple institutional investors have made notable adjustments to their holdings in Antero Midstream, leading to a total institutional ownership of 53.97%.
• Analysts have recently raised price targets for Antero Midstream, with the average target now at $18.50, while the company's stock has a current price of around $18.08.

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 211.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 78,604 shares of the pipeline company's stock after purchasing an additional 53,402 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Antero Midstream were worth $1,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Antero Midstream during the 1st quarter worth approximately $529,000. Sequoia Financial Advisors LLC raised its position in shares of Antero Midstream by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company's stock worth $289,000 after purchasing an additional 975 shares during the period. Silver Oak Securities Incorporated acquired a new stake in shares of Antero Midstream during the 1st quarter worth approximately $459,000. KBC Group NV raised its position in shares of Antero Midstream by 18.5% during the 1st quarter. KBC Group NV now owns 17,628 shares of the pipeline company's stock worth $317,000 after purchasing an additional 2,757 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Antero Midstream by 102.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company's stock worth $852,000 after purchasing an additional 23,922 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AM has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a report on Monday, August 18th. Morgan Stanley increased their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Weiss Ratings reissued a "buy (a-)" rating on shares of Antero Midstream in a report on Wednesday, October 8th. Finally, Wells Fargo & Company increased their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $18.50.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $18.08 on Friday. The stock has a fifty day moving average price of $18.40 and a two-hundred day moving average price of $18.01. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $8.65 billion, a P/E ratio of 19.03 and a beta of 0.85. Antero Midstream Corporation has a 1 year low of $14.22 and a 1 year high of $19.82.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The firm's quarterly revenue was up 13.2% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Research analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Antero Midstream's dividend payout ratio (DPR) is presently 94.74%.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction on 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 trade represents a 26.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.86% 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.

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