Brandywine Global Investment Management LLC Purchases 109,248 Shares of Antero Midstream Corporation $AM

Key Points

• Brandywine Global Investment Management LLC increased its stake in Antero Midstream Corporation by 15.8%, acquiring an additional 109,248 shares, bringing the total ownership to approximately 801,621 shares valued at around $14.4 million.
• Recent analyst reports indicate a mixed outlook for Antero Midstream, with Morgan Stanley raising its price target to $19 but maintaining an "underweight" rating, while Wall Street Zen upgraded its rating from "hold" to "buy."
• Antero Midstream announced a quarterly dividend of $0.225, representing an annualized yield of 5.0%, with a payout ratio currently at 94.74%.

Brandywine Global Investment Management LLC raised its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 15.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 801,621 shares of the pipeline company's stock after buying an additional 109,248 shares during the period. Brandywine Global Investment Management LLC owned about 0.17% of Antero Midstream worth $14,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AM. Transce3nd LLC bought a new position in shares of Antero Midstream during the first quarter worth $29,000. UMB Bank n.a. increased its position in Antero Midstream by 170.8% during the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after buying an additional 2,188 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Antero Midstream by 20.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock worth $85,000 after buying an additional 963 shares during the last quarter. GAMMA Investing LLC grew its stake in Antero Midstream by 34.0% in the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock valued at $154,000 after buying an additional 2,165 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in Antero Midstream in the 4th quarter valued at about $159,000. 53.97% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by corporate insiders.

Antero Midstream Trading Down 0.8%

Shares of NYSE AM traded down $0.1350 during midday trading on Tuesday, hitting $17.4150. 2,571,035 shares of the company traded hands, compared to its average volume of 3,131,543. Antero Midstream Corporation has a 12-month low of $14.06 and a 12-month high of $19.08. 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 stock has a 50-day moving average price of $18.00 and a 200 day moving average price of $17.54. The firm has a market cap of $8.33 billion, a P/E ratio of 18.33 and a beta of 0.97.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $292.70 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. Antero Midstream's quarterly revenue was up 13.2% on a year-over-year basis. As a group, analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 5.2%. Antero Midstream's payout ratio is currently 94.74%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley boosted their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday. Finally, Wells Fargo & Company upped their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $18.50.

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.