Antero Midstream Corporation $AM Shares Acquired by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. significantly increased its holdings in Antero Midstream Corporation by 266.3%, owning 74,579 shares valued at approximately $1.41 million as of the end of the second quarter.
• Antero Midstream announced a quarterly dividend of $0.225, representing a 5.0% yield, to be paid on November 5th to shareholders of record on October 22nd.
• Analyst ratings for the stock show varied opinions, with Goldman Sachs increasing the price target to $17.50 while Zacks downgraded it to a "hold," indicating mixed sentiments in the market.

First Citizens Bank & Trust Co. grew its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 266.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,579 shares of the pipeline company's stock after acquiring an additional 54,219 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Antero Midstream were worth $1,413,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AM. Transce3nd LLC acquired a new stake in shares of Antero Midstream in the first quarter valued at approximately $29,000. Brooklyn Investment Group lifted its holdings in shares of Antero Midstream by 41.2% during the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock worth $82,000 after purchasing an additional 1,328 shares during the period. Bayforest Capital Ltd lifted its holdings in shares of Antero Midstream by 277.3% during the second quarter. Bayforest Capital Ltd now owns 6,542 shares of the pipeline company's stock worth $124,000 after purchasing an additional 4,808 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Antero Midstream by 34.0% during the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after purchasing an additional 2,165 shares during the period. Finally, CWM LLC lifted its holdings in shares of Antero Midstream by 7.1% during the first quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after purchasing an additional 629 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the firm's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on AM. The Goldman Sachs Group increased their price target on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Antero Midstream in a report on Wednesday, October 8th. Zacks Research downgraded Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Friday, September 19th. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Morgan Stanley increased their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.50.

Antero Midstream Trading Down 1.1%

NYSE:AM opened at $17.84 on Friday. The stock has a fifty day moving average price of $18.39 and a two-hundred day moving average price of $18.04. The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of 18.77 and a beta of 0.85. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. 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 released its quarterly earnings data 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. The firm had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.Antero Midstream's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 earnings per share. As a group, sell-side analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be given a $0.225 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $0.90 annualized dividend and a yield of 5.0%. Antero Midstream's dividend payout ratio is presently 94.74%.

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.

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