Ethic Inc. Has $2.58 Million Stock Position in Antero Midstream Corporation $AM

Key Points

• Ethic Inc. has increased its stake in Antero Midstream Corporation by 13.2% in the first quarter, acquiring an additional 16,499 shares for a total holding worth approximately $2.58 million.
• Several institutional investors, including Invesco Ltd. and Bank of New York Mellon Corp, have also raised their positions in Antero Midstream, highlighting significant interest from institutional investors.
• Antero Midstream recently declared a quarterly dividend of $0.225 per share, representing an annualized yield of 5.0%, with an insider's payout ratio at 94.74%.

Ethic Inc. increased its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 13.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,153 shares of the pipeline company's stock after acquiring an additional 16,499 shares during the period. Ethic Inc.'s holdings in Antero Midstream were worth $2,579,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Antero Midstream in the 1st quarter worth about $29,000. UMB Bank n.a. raised its stake in shares of Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after purchasing an additional 2,188 shares in the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Antero Midstream by 20.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock worth $85,000 after purchasing an additional 963 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Antero Midstream by 34.0% during the 1st 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 in the last quarter. Finally, CWM LLC raised its stake in shares of Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after purchasing an additional 629 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AM shares. The Goldman Sachs Group raised their price target on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley raised their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Zacks Research raised Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Finally, Wells Fargo & Company raised their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.50.

Antero Midstream Stock Performance

Shares of AM stock traded down $0.0220 during trading on Friday, reaching $17.6880. The company had a trading volume of 2,360,843 shares, compared to its average volume of 3,006,691. The firm's 50 day simple moving average is $17.95 and its two-hundred day simple moving average is $17.57. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. Antero Midstream Corporation has a one year low of $14.06 and a one year high of $19.08. The company has a market capitalization of $8.46 billion, a PE ratio of 18.62 and a beta of 0.97.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The business had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. During the same period last year, the business earned $0.23 EPS. The firm's revenue was up 13.2% compared to the same quarter last year. Sell-side analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Wednesday, July 23rd. Antero Midstream's dividend payout ratio (DPR) is presently 94.74%.

Insider Buying and Selling

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the transaction, the director directly owned 73,645 shares of the company's stock, valued at approximately $1,390,417.60. This trade represents a 6.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sheri Pearce sold 39,155 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by company insiders.

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.