Antero Midstream Corporation $AM Shares Acquired by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors Inc. OH increased its stake in Antero Midstream by 588.9% in Q4, adding 99,141 shares to hold 115,977 shares worth about $2.06 million.
• Antero Midstream beat Q4 EPS estimates ($0.28 vs. $0.24) with revenue up 3.3% year-over-year, and it pays a quarterly dividend of $0.225 (annualized yield ~3.9%) despite a high payout ratio of 104.65%.
• Analysts are mixed: several firms have raised targets recently, but MarketBeat's consensus rating is "Hold" with an average price target of $22.50.

Fort Washington Investment Advisors Inc. OH lifted its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 588.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,977 shares of the pipeline company's stock after purchasing an additional 99,141 shares during the quarter. Fort Washington Investment Advisors Inc. OH's holdings in Antero Midstream were worth $2,063,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AM. Vanguard Group Inc. raised its stake in Antero Midstream by 0.3% in the third quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company's stock valued at $723,424,000 after buying an additional 124,102 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Antero Midstream by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company's stock worth $179,316,000 after acquiring an additional 71,606 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Antero Midstream by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company's stock worth $152,574,000 after acquiring an additional 1,430,138 shares during the last quarter. Norges Bank acquired a new position in shares of Antero Midstream during the second quarter valued at about $80,504,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock valued at $69,739,000 after acquiring an additional 1,400,368 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Price Performance

Shares of NYSE AM opened at $23.21 on Friday. Antero Midstream Corporation has a 52 week low of $15.07 and a 52 week high of $23.83. The business's 50 day moving average price is $21.20 and its 200 day moving average price is $19.19. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. The firm has a market cap of $10.98 billion, a P/E ratio of 26.99 and a beta of 0.77.

Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The company had revenue of $297.00 million during the quarter, compared to analyst estimates of $292.46 million. During the same period last year, the firm posted $0.23 EPS. Antero Midstream's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Wednesday, January 28th. Antero Midstream's dividend payout ratio (DPR) is 104.65%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. UBS Group lifted their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. Zacks Research cut shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Weiss Ratings upgraded shares of Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, March 6th. Finally, The Goldman Sachs Group upped their target price on Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.50.

Insider Buying and Selling

In related news, insider Sheri Pearce sold 14,000 shares of the business's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the transaction, the insider directly owned 99,900 shares in the company, valued at $2,273,724. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the sale, the director directly owned 69,680 shares in the company, valued at approximately $1,613,788.80. The trade was a 6.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 44,000 shares of company stock valued at $1,004,690 over the last 90 days. Insiders own 0.86% of the company's stock.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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