Boston Trust Walden Corp Sells 274,146 Shares of Antero Midstream Corporation $AM

Key Points

• Boston Trust Walden Corp cut its stake in Antero Midstream by 7.4% in the first quarter, selling 274,146 shares and leaving it with 3.43 million shares worth about $78.2 million.
• Antero Midstream reported Q1 earnings of $0.25 per share, slightly below estimates, while revenue came in at $314.21 million, topping expectations and rising 7.9% year over year.
• The company paid a quarterly dividend of $0.225 per share, equal to a 4.0% annualized yield, though its payout ratio is high at 104.65%.

Boston Trust Walden Corp reduced its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 7.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,431,551 shares of the pipeline company's stock after selling 274,146 shares during the period. Boston Trust Walden Corp owned about 0.73% of Antero Midstream worth $78,239,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in Antero Midstream by 0.8% during the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company's stock worth $3,256,000 after buying an additional 1,371 shares during the period. AQR Capital Management LLC lifted its holdings in Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company's stock valued at $1,508,000 after buying an additional 53,281 shares during the period. Goldman Sachs Group Inc. boosted its position 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 acquiring an additional 1,400,368 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Antero Midstream by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company's stock valued at $17,029,000 after acquiring an additional 43,335 shares during the last quarter. Finally, M&T Bank Corp grew its holdings in Antero Midstream by 5.9% during the 2nd quarter. M&T Bank Corp now owns 18,106 shares of the pipeline company's stock worth $344,000 after acquiring an additional 1,009 shares during the period. Institutional investors own 53.97% of the company's stock.

Antero Midstream Price Performance

Shares of NYSE AM opened at $22.50 on Friday. The firm's 50-day moving average price is $21.72 and its 200-day moving average price is $20.87. Antero Midstream Corporation has a 1-year low of $16.77 and a 1-year high of $23.83. The firm has a market capitalization of $10.69 billion, a P/E ratio of 26.17 and a beta of 0.64. 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 (NYSE:AM - Get Free Report) last issued its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The firm had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The business's quarterly revenue was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Antero Midstream Corporation will post 1.11 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a $0.225 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 annualized dividend and a yield of 4.0%. Antero Midstream's dividend payout ratio is presently 104.65%.

Insider Buying and Selling

In other Antero Midstream news, 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 value of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares of the company's stock, valued at approximately $12,714,373.50. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the business'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 value of $2,192,000.00. Following the sale, the insider 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. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AM. Weiss Ratings lowered Antero Midstream from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, June 25th. UBS Group raised their target price on Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 25th. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price for the company in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company boosted their price target on Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Friday, March 13th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $24.00.

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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