BNP Paribas Financial Markets Raises Stock Position in Antero Midstream Corporation $AM

Key Points

• BNP Paribas Financial Markets boosted its Antero Midstream stake by 19% in the fourth quarter, buying 254,088 additional shares and bringing its total holding to 1,592,910 shares worth about $28.3 million.
• Antero Midstream reported mixed quarterly results, with earnings of $0.25 per share missing estimates by $0.01, while revenue of $314.21 million came in slightly above expectations and rose 7.9% year over year.
• The company paid a quarterly dividend of $0.225 per share, annualizing to $0.90 and yielding about 4.2%, though its payout ratio is elevated at 104.65%.

BNP Paribas Financial Markets increased its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,592,910 shares of the pipeline company's stock after buying an additional 254,088 shares during the period. BNP Paribas Financial Markets owned about 0.33% of Antero Midstream worth $28,338,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its stake in Antero Midstream by 23.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company's stock worth $59,000 after acquiring an additional 617 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Antero Midstream by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 120,765 shares of the pipeline company's stock worth $2,148,000 after acquiring an additional 660 shares during the last quarter. Choreo LLC lifted its stake in Antero Midstream by 5.0% in the fourth quarter. Choreo LLC now owns 14,183 shares of the pipeline company's stock worth $253,000 after acquiring an additional 679 shares during the last quarter. GAMMA Investing LLC lifted its stake in Antero Midstream by 6.9% in the fourth quarter. GAMMA Investing LLC now owns 10,884 shares of the pipeline company's stock worth $194,000 after acquiring an additional 701 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Antero Midstream by 68.1% in the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company's stock worth $31,000 after acquiring an additional 708 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company's stock.

Antero Midstream Stock Up 1.4%

Shares of NYSE:AM opened at $21.57 on Friday. The company has a market capitalization of $10.24 billion, a PE ratio of 25.08 and a beta of 0.66. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. Antero Midstream Corporation has a twelve month low of $16.77 and a twelve month high of $23.83. The firm has a 50 day simple moving average of $21.84 and a 200-day simple moving average of $20.31.

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

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Stockholders of record on Wednesday, April 29th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Wednesday, April 29th. Antero Midstream's payout ratio is currently 104.65%.

Wall Street Analyst Weigh In

AM has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 25th. Wells Fargo & Company lifted their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Friday, March 13th. Morgan Stanley upgraded shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price target for the company in a research note on Wednesday, April 22nd. Weiss Ratings upgraded shares of Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Friday, March 6th. Finally, The Goldman Sachs Group lifted their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $24.00.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the sale, the insider owned 99,900 shares in the company, valued at approximately $2,273,724. The trade was a 12.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yvette K. Schultz sold 69,269 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the transaction, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 213,269 shares of company stock worth $4,713,681 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Antero Midstream Profile

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.

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