250,000 Shares in Antero Midstream Corporation $AM Acquired by Corigliano Investment Advisers LLC

Key Points

• Corigliano Investment Advisers LLC has invested $4.5 million in Antero Midstream Corporation, acquiring 250,000 shares, which constitutes about 2% of their overall investment portfolio.
• Insider Sheri Pearce sold 39,155 shares of Antero Midstream, representing a 26.88% decrease in her ownership, and earned approximately $685,604 from the sale.
• The company reported $0.26 earnings per share for the last quarter, surpassing analysts' estimates of $0.24, and its revenue was up 13.2% year-over-year, totaling $305.47 million.

Corigliano Investment Advisers LLC acquired a new position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 250,000 shares of the pipeline company's stock, valued at approximately $4,500,000. Antero Midstream makes up 2.0% of Corigliano Investment Advisers LLC's holdings, making the stock its 22nd largest position. Corigliano Investment Advisers LLC owned 0.05% of Antero Midstream at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of Antero Midstream by 174.9% during the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company's stock worth $1,508,000 after purchasing an additional 53,281 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Antero Midstream by 17.2% during the 1st quarter. Advisors Asset Management Inc. now owns 515,020 shares of the pipeline company's stock worth $9,270,000 after purchasing an additional 75,633 shares during the last quarter. Amundi grew its holdings in shares of Antero Midstream by 3,121.9% during the first quarter. Amundi now owns 125,913 shares of the pipeline company's stock worth $2,263,000 after buying an additional 122,005 shares in the last quarter. Perbak Capital Partners LLP acquired a new stake in shares of Antero Midstream in the first quarter valued at about $363,000. Finally, PDT Partners LLC lifted its stake in shares of Antero Midstream by 43.9% in the first quarter. PDT Partners LLC now owns 570,672 shares of the pipeline company's stock worth $10,272,000 after buying an additional 174,162 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company's stock.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider owned 106,489 shares in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.86% of the company's stock.

Analyst Ratings Changes

AM has been the subject of a number of recent research reports. Morgan Stanley increased 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. Zacks Research raised Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. The Goldman Sachs Group lifted their price objective on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company raised their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $18.50.

Antero Midstream Stock Down 0.9%

Shares of Antero Midstream stock traded down $0.17 on Monday, reaching $18.09. 3,360,559 shares of the company were exchanged, compared to its average volume of 3,070,987. The stock's 50 day moving average price is $17.84 and its 200-day moving average price is $17.68. 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 1-year low of $14.06 and a 1-year high of $19.08. The company has a market cap of $8.65 billion, a P/E ratio of 19.04 and a beta of 0.92.

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

Antero Midstream Announces Dividend

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

About Antero Midstream

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.