Antero Midstream Corporation $AM Shares Purchased by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Antero Midstream stake by 26.3% in the first quarter, purchasing 88,900 additional shares and holding 426,913 shares worth approximately $9.7 million. Institutional investors collectively own 53.97% of the company.
• Antero Midstream announced a quarterly dividend of $0.225 per share, or $0.90 annualized, representing a 4.1% yield. The company’s payout ratio is 107.14%.
• Shares opened at $22.02, near their 50-day average, while analysts maintain a generally cautious outlook: five rate the stock Hold and one rates it Buy, with an average price target of $24.50.

California State Teachers Retirement System raised its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 26.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 426,913 shares of the pipeline company's stock after purchasing an additional 88,900 shares during the period. California State Teachers Retirement System owned 0.09% of Antero Midstream worth $9,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its stake in shares of Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company's stock worth $46,000 after acquiring an additional 537 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Antero Midstream by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 21,430 shares of the pipeline company's stock valued at $489,000 after acquiring an additional 537 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Antero Midstream by 23.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company's stock valued at $59,000 after acquiring an additional 617 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Antero Midstream by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company's stock valued at $2,148,000 after purchasing an additional 660 shares during the period. Finally, Choreo LLC increased its position in Antero Midstream by 5.0% during the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company's stock worth $253,000 after purchasing an additional 679 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company's stock.

Antero Midstream Stock Performance

NYSE:AM opened at $22.02 on Tuesday. Antero Midstream Corporation has a 52 week low of $16.96 and a 52 week high of $23.83. The company has a fifty day simple moving average of $22.02 and a two-hundred day simple moving average of $21.60. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. The company has a market cap of $10.45 billion, a price-to-earnings ratio of 26.21 and a beta of 0.65.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream's payout ratio is presently 107.14%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AM shares. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. Weiss Ratings cut shares of Antero Midstream from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, June 25th. Wells Fargo & Company increased their target price on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Morgan Stanley upgraded shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price target for the company in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Antero Midstream presently has an average rating of "Hold" and an average price target of $24.50.

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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