Jennison Associates LLC Raises Stock Position in Antero Midstream Corporation (NYSE:AM)

Jennison Associates LLC increased its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,080,982 shares of the pipeline company's stock after purchasing an additional 49,456 shares during the quarter. Jennison Associates LLC owned 0.23% of Antero Midstream worth $19,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Antero Midstream in the first quarter valued at approximately $29,000. UMB Bank n.a. lifted its position in Antero Midstream by 170.8% during the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after buying an additional 2,188 shares during the period. TD Waterhouse Canada Inc. raised its holdings in shares of Antero Midstream by 20.5% in 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 during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Antero Midstream in the fourth quarter valued at about $119,000. Finally, Harvest Fund Management Co. Ltd grew its stake in Antero Midstream by 5,787.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 8,242 shares of the pipeline company's stock valued at $124,000 after purchasing an additional 8,102 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Trading Down 4.2%

AM traded down $0.76 during mid-day trading on Monday, reaching $17.22. The stock had a trading volume of 2,620,204 shares, compared to its average volume of 2,977,368. The stock has a market capitalization of $8.25 billion, a P/E ratio of 19.79 and a beta of 1.01. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.42 and a current ratio of 1.42. The firm's fifty day simple moving average is $18.36 and its two-hundred day simple moving average is $17.27. Antero Midstream Corporation has a 52 week low of $13.12 and a 52 week high of $19.09.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $291.13 million for the quarter, compared to the consensus estimate of $277.79 million. Antero Midstream had a return on equity of 19.75% and a net margin of 37.35%. The firm's revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 EPS. On average, equities analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $0.225 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.23%. Antero Midstream's payout ratio is 103.45%.

Insider Buying and Selling at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the transaction, the director directly owned 73,645 shares in the company, valued at approximately $1,390,417.60. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Morgan Stanley reissued an "underweight" rating and set a $17.00 price objective (up previously from $16.00) on shares of Antero Midstream in a research report on Tuesday, June 3rd.

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.