Mackenzie Financial Corp Grows Position in Antero Midstream Corporation (NYSE:AM)

Key Points

• Mackenzie Financial Corp has significantly increased its holdings in Antero Midstream Corporation by 533.4%, owning 414,427 shares valued at approximately $7.46 million.
• Antero Midstream reported a quarterly EPS of $0.26, exceeding expectations and reflecting a 13.2% year-over-year revenue increase to $305.47 million.
• The company declared a quarterly dividend of $0.225 per share, indicating a dividend yield of 4.9% and a payout ratio of 103.45%.

Mackenzie Financial Corp grew its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 533.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 414,427 shares of the pipeline company's stock after acquiring an additional 348,993 shares during the period. Mackenzie Financial Corp owned about 0.09% of Antero Midstream worth $7,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in Antero Midstream by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,112,929 shares of the pipeline company's stock valued at $137,516,000 after purchasing an additional 71,361 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in Antero Midstream by 2.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,069,598 shares of the pipeline company's stock valued at $106,680,000 after acquiring an additional 135,886 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Antero Midstream by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 6,106,502 shares of the pipeline company's stock worth $92,174,000 after purchasing an additional 25,001 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Antero Midstream by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,991,546 shares of the pipeline company's stock valued at $107,848,000 after purchasing an additional 295,432 shares during the period. Finally, Norges Bank purchased a new stake in Antero Midstream in the fourth quarter valued at approximately $62,578,000. Hedge funds and other institutional investors own 53.97% of the company's stock.

Insiders Place Their Bets

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company's stock.

Antero Midstream Price Performance

Shares of AM stock traded up $0.12 during midday trading on Monday, reaching $18.65. 1,933,032 shares of the company traded hands, compared to its average volume of 3,167,993. The firm's 50 day simple moving average is $18.10 and its two-hundred day simple moving average is $17.38. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $8.92 billion, a PE ratio of 19.63 and a beta of 0.97. Antero Midstream Corporation has a 1-year low of $13.12 and a 1-year high of $19.08.

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

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $0.225 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $0.90 annualized dividend and a yield of 4.8%. Antero Midstream's payout ratio is 94.74%.

Wall Street Analyst Weigh In

Several analysts recently commented on AM shares. Wells Fargo & Company upped their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday. Morgan Stanley reiterated an "underweight" rating and issued a $17.00 price objective (up from $16.00) on shares of Antero Midstream in a research report on Tuesday, June 3rd. Finally, Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday.

Antero Midstream Company Profile

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.