Antero Midstream Corporation $AM Shares Bought by Alps Advisors Inc.

Key Points

• Alps Advisors increased its Antero Midstream stake by 8.3% in the third quarter, adding 84,664 shares to bring its holdings to about 1.10 million shares, valued at $22.2 million.
• Antero Midstream’s latest quarter fell short of estimates: earnings were $0.28 per share versus $0.30 expected, and revenue was $327 million versus $341 million expected, though revenue grew 10.9% year over year.
• The company declared a quarterly dividend of $0.225 per share, equivalent to a 4.7% annualized yield. Analysts’ consensus rating was Hold, with an average price target of $24.40.

Alps Advisors Inc. increased its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 8.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,099,428 shares of the pipeline company's stock after acquiring an additional 84,664 shares during the quarter. Alps Advisors Inc. owned approximately 0.23% of Antero Midstream worth $22,164,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Antero Midstream in the 2nd quarter valued at about $869,045,000. Bank of New York Mellon Corp purchased a new position in Antero Midstream during the second quarter valued at approximately $157,371,000. Kayne Anderson Capital Advisors LP purchased a new position in Antero Midstream during the second quarter valued at approximately $49,883,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Antero Midstream during the second quarter valued at approximately $46,007,000. Finally, RR Advisors LLC bought a new position in Antero Midstream in the second quarter worth approximately $34,435,000. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Stock Performance

Shares of AM stock opened at $19.02 on Friday. The business's fifty day simple moving average is $21.13 and its 200-day simple moving average is $21.60. The company has a market cap of $8.98 billion, a PE ratio of 13.39 and a beta of 0.71. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.42. Antero Midstream Corporation has a 12-month low of $17.12 and a 12-month high of $23.83.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). Antero Midstream had a net margin of 53.45% and a return on equity of 33.53%. The business had revenue of $327.02 million for the quarter, compared to analysts' expectations of $340.62 million. During the same quarter in the prior year, the company posted $0.24 EPS. The business's revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that Antero Midstream Corporation will post 1.45 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 11th. Shareholders of record on Wednesday, October 28th will be paid a $0.2250 dividend. The ex-dividend date is Wednesday, October 28th. This represents a $0.90 dividend on an annualized basis and a yield of 4.7%. Antero Midstream's dividend payout ratio (DPR) is 63.38%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AM. Weiss Ratings upgraded Antero Midstream from a "buy (b)" rating to a "buy (a-)" rating in a report on Friday, October 30th. Capital One Financial upgraded Antero Midstream from an "equal weight" rating to an "overweight" rating and set a $25.00 price target on the stock in a report on Tuesday, September 22nd. Wells Fargo & Company boosted their price target on Antero Midstream from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Monday, November 2nd. Zacks Research cut Antero Midstream from a "hold" rating to a "strong sell" rating in a research note on Monday, October 19th. Finally, UBS Group decreased their price objective on Antero Midstream from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $24.40.

About Antero Midstream

Antero Midstream Corporation owns and operates natural gas gathering, compression and water-handling infrastructure in the Appalachian Basin. Its assets support production in the Marcellus and Utica shale regions of West Virginia and Ohio.

The company's services include gathering and compression of natural gas, as well as water transportation and related infrastructure used in shale development. Antero Midstream's operations primarily serve Antero Resources, connecting its production areas with downstream pipelines and supporting its water needs.

Antero Midstream was established in 2014 as Antero Resources' midstream partnership and later converted to a corporation.

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