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

Several other institutional investors have also recently modified their holdings of AM. LPL Financial LLC lifted its stake in Antero Midstream by 11.4% during the 1st quarter. LPL Financial LLC now owns 355,245 shares of the pipeline company's stock worth $6,394,000 after acquiring an additional 36,468 shares in the last quarter. Inspire Advisors LLC acquired a new stake in Antero Midstream during the 1st quarter worth approximately $206,000. Applied Finance Capital Management LLC acquired a new position in shares of Antero Midstream during the first quarter worth about $215,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Antero Midstream during the first quarter worth about $2,720,000. Finally, Choreo LLC lifted its holdings in Antero Midstream by 19.3% in the 1st quarter. Choreo LLC now owns 16,462 shares of the pipeline company's stock valued at $296,000 after purchasing an additional 2,668 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Trading Down 1.7%

Antero Midstream stock traded down $0.32 during trading hours on Tuesday, reaching $18.34. 2,098,618 shares of the company's stock traded hands, compared to its average volume of 3,169,162. The firm's 50 day moving average is $18.10 and its 200-day moving average is $17.40. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 19.33 and a beta of 0.97. Antero Midstream Corporation has a fifty-two week low of $13.51 and a fifty-two week high of $19.08.

Antero Midstream (NYSE:AM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping 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 company had revenue of $305.47 million for the quarter, compared to analyst estimates of $292.70 million. During the same period last year, the business posted $0.23 earnings per share. The business's revenue for the quarter was up 13.2% compared to the same quarter last year. On average, analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, July 23rd. Antero Midstream's dividend payout ratio is presently 94.74%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the business'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 transaction of $94,400.00. Following the completion of the sale, the director owned 73,645 shares in the company, valued at $1,390,417.60. The trade was a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by insiders.

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.