34,891 Shares in Antero Midstream Corporation (NYSE:AM) Purchased by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC has invested $626,000 in Antero Midstream Corporation, acquiring 34,891 shares during the first quarter.
• Antero Midstream reported $0.26 EPS for the latest quarter, exceeding estimates, with revenue rising by 13.2% year-over-year to $305.47 million.
• The company declared a quarterly dividend of $0.225 per share, resulting in an annualized dividend of $0.90 and a yield of 4.9%.

CCM Investment Group LLC acquired a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,891 shares of the pipeline company's stock, valued at approximately $626,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Trust Walden Corp purchased a new stake in Antero Midstream in the 1st quarter valued at about $51,269,000. SIR Capital Management L.P. purchased a new stake in Antero Midstream in the 4th quarter valued at about $35,058,000. Nuveen LLC purchased a new stake in Antero Midstream in the 1st quarter valued at about $25,226,000. Balyasny Asset Management L.P. increased its stake in Antero Midstream by 7,769.7% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,028,014 shares of the pipeline company's stock valued at $15,513,000 after buying an additional 1,014,951 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Antero Midstream by 22.5% in the 4th quarter. Northern Trust Corp now owns 4,105,379 shares of the pipeline company's stock valued at $61,950,000 after buying an additional 753,939 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the transaction, the director directly owned 73,645 shares of the company's stock, valued at $1,390,417.60. This represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AM has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley lifted their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th.

Antero Midstream Price Performance

NYSE:AM traded down $0.18 during trading hours on Friday, hitting $18.03. The stock had a trading volume of 633,872 shares, compared to its average volume of 3,118,276. The company has a 50 day simple moving average of $18.04 and a two-hundred day simple moving average of $17.50. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. Antero Midstream Corporation has a one year low of $14.06 and a one year high of $19.08. The firm has a market capitalization of $8.62 billion, a price-to-earnings ratio of 18.98 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 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 firm had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. During the same period last year, the firm earned $0.23 EPS. The business's quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Wednesday, July 23rd. Antero Midstream's dividend payout ratio is presently 94.74%.

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.