BI Asset Management Fondsmaeglerselskab A S Has $8.52 Million Stake in Antero Midstream Corporation $AM

Key Points

• BI Asset Management Fondsmaeglerselskab A S boosted its stake in Antero Midstream by 225.1% in the first quarter, ending with 373,838 shares valued at about $8.52 million.
• Several other institutional investors also increased holdings, and institutions now own 53.97% of the company’s stock, highlighting continued institutional interest.
• Analysts remain cautious overall: Antero Midstream has a consensus Hold rating with an average price target of $24, while the company recently reported earnings of $0.25 per share, slightly below estimates, and maintained a quarterly dividend of $0.225 per share.

BI Asset Management Fondsmaeglerselskab A S increased its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 225.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 373,838 shares of the pipeline company's stock after purchasing an additional 258,847 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.08% of Antero Midstream worth $8,524,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Antero Midstream during the 4th quarter valued at about $66,998,000. Orbis Allan Gray Ltd bought a new position in Antero Midstream during the fourth quarter worth about $25,084,000. Goldman Sachs Group Inc. boosted its holdings in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock valued at $69,739,000 after purchasing an additional 1,400,368 shares in the last quarter. SIR Capital Management L.P. boosted its holdings in Antero Midstream by 1,086.9% during the third quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company's stock valued at $26,892,000 after purchasing an additional 1,266,794 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company's stock valued at $186,328,000 after purchasing an additional 1,161,684 shares during the period. Institutional investors and hedge funds own 53.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group increased their target price on Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. UBS Group upped their price target on Antero Midstream from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, March 25th. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price objective for the company in a research note on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Friday, March 13th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Antero Midstream currently has a consensus rating of "Hold" and an average target price of $24.00.

Insider Transactions at Antero Midstream

In other news, insider Yvette K. Schultz sold 69,269 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the sale, the insider directly owned 580,565 shares of the company's stock, valued at $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael N. Kennedy sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider directly owned 1,500,594 shares of the company's stock, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company's stock.

Antero Midstream Trading Down 0.1%

AM stock opened at $21.70 on Monday. The business has a fifty day moving average price of $21.52 and a 200 day moving average price of $20.60. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. Antero Midstream Corporation has a fifty-two week low of $16.77 and a fifty-two week high of $23.83. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 25.23 and a beta of 0.66.

Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. During the same period in the prior year, the firm posted $0.25 EPS. Antero Midstream's revenue for the quarter was up 7.9% compared to the same quarter last year. Analysts expect that Antero Midstream Corporation will post 1.12 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. Antero Midstream's payout ratio is currently 104.65%.

About Antero Midstream

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.