Connor Clark & Lunn Investment Management Ltd. Has $6.79 Million Stake in Antero Midstream Corporation (NYSE:AM)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Antero Midstream Corporation by 56.6%, owning approximately 0.08% of the company, valued at $6.79 million.
• The company reported $0.26 earnings per share (EPS) for the last quarter, surpassing expectations, with a net margin of 39.53% and revenue growth of 13.2% year-over-year.
• Antero Midstream declared a quarterly dividend of $0.225 per share, representing an annualized yield of 4.9%, with a payout ratio of 94.74%.

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 56.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 377,371 shares of the pipeline company's stock after acquiring an additional 136,448 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.08% of Antero Midstream worth $6,793,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AM. Boston Trust Walden Corp acquired a new position in shares of Antero Midstream in the first quarter valued at approximately $51,269,000. SIR Capital Management L.P. acquired a new position in shares of Antero Midstream in the fourth quarter valued at approximately $35,058,000. Balyasny Asset Management L.P. grew its position in shares of Antero Midstream by 7,769.7% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,028,014 shares of the pipeline company's stock valued at $15,513,000 after purchasing an additional 1,014,951 shares during the last quarter. Northern Trust Corp grew its position in shares of Antero Midstream by 22.5% in the fourth quarter. Northern Trust Corp now owns 4,105,379 shares of the pipeline company's stock valued at $61,950,000 after purchasing an additional 753,939 shares during the last quarter. Finally, Barclays PLC grew its position in Antero Midstream by 32.7% during the fourth quarter. Barclays PLC now owns 1,770,853 shares of the pipeline company's stock worth $26,722,000 after buying an additional 436,091 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company's stock.

Insiders Place Their Bets

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was 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 in the company, valued at approximately $1,390,417.60. This represents a 6.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Antero Midstream Price Performance

NYSE:AM traded down $0.29 during trading hours on Friday, reaching $17.91. 3,557,306 shares of the company were exchanged, compared to its average volume of 2,984,372. The company has a market capitalization of $8.57 billion, a P/E ratio of 18.85 and a beta of 0.97. Antero Midstream Corporation has a 1-year low of $14.06 and a 1-year high of $19.08. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day moving average of $18.02 and a 200 day moving average of $17.51.

Antero Midstream (NYSE:AM - Get Free Report) last released its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%. The firm had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. During the same period in the prior year, the company earned $0.23 earnings per share. The company's quarterly revenue was up 13.2% on a year-over-year basis. Research analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were paid a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a yield of 5.0%. 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.