Bank of New York Mellon Corp Raises Position in Antero Midstream Corporation (NYSE:AM)

Bank of New York Mellon Corp grew its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,991,546 shares of the pipeline company's stock after acquiring an additional 295,432 shares during the period. Bank of New York Mellon Corp owned about 1.25% of Antero Midstream worth $107,848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in Antero Midstream by 6.5% in the first quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company's stock valued at $289,000 after acquiring an additional 975 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Antero Midstream during the 1st quarter valued at about $495,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Antero Midstream by 102.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company's stock valued at $852,000 after buying an additional 23,922 shares during the period. KBC Group NV raised its stake in Antero Midstream by 18.5% in the first quarter. KBC Group NV now owns 17,628 shares of the pipeline company's stock worth $317,000 after buying an additional 2,757 shares in the last quarter. Finally, Silver Oak Securities Incorporated bought a new position in Antero Midstream in the first quarter worth about $459,000. 53.97% of the stock is owned by institutional investors.

Antero Midstream Stock Down 0.8%

Shares of NYSE:AM traded down $0.14 during midday trading on Thursday, reaching $17.42. The company's stock had a trading volume of 2,124,638 shares, compared to its average volume of 2,978,442. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average of $18.35 and a 200-day moving average of $17.13. The firm has a market capitalization of $8.35 billion, a P/E ratio of 20.02 and a beta of 1.01. Antero Midstream Corporation has a 12-month low of $13.12 and a 12-month high of $19.09.

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

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 5.17%. Antero Midstream's payout ratio is currently 103.45%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction 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 sale, the director directly owned 73,645 shares of the company's stock, valued at approximately $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 can be accessed through this link. 0.61% of the stock is currently owned by company insiders.

Antero Midstream 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.