Federated Hermes Inc. Acquires 154,521 Shares of Antero Midstream Corporation (NYSE:AM)

Federated Hermes Inc. grew its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 500.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,400 shares of the pipeline company's stock after acquiring an additional 154,521 shares during the period. Federated Hermes Inc.'s holdings in Antero Midstream were worth $3,337,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Transce3nd LLC purchased a new stake in shares of Antero Midstream in the 1st quarter worth about $29,000. UMB Bank n.a. raised its stake in Antero Midstream by 170.8% in 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 in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in Antero Midstream by 20.5% in 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 period. GAMMA Investing LLC lifted its holdings in Antero Midstream by 34.0% in the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after buying an additional 2,165 shares during the period. Finally, CWM LLC boosted its position in Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock valued at $170,000 after acquiring an additional 629 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Stock Up 0.4%

AM traded up $0.07 during midday trading on Friday, reaching $18.53. The company's stock had a trading volume of 702,137 shares, compared to its average volume of 3,157,730. Antero Midstream Corporation has a 1 year low of $13.77 and a 1 year high of $19.08. The stock's 50-day moving average is $18.08 and its 200-day moving average is $17.43. The firm has a market capitalization of $8.86 billion, a price-to-earnings ratio of 19.50 and a beta of 0.97. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45.

Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly 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 company had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. During the same quarter in the prior year, the business posted $0.23 EPS. The firm's quarterly revenue was up 13.2% compared to the same quarter last year. As a group, research analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. Antero Midstream's payout ratio is currently 94.74%.

Wall Street Analyst Weigh In

AM has been the subject of several research reports. Wells Fargo & Company increased their target price 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. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley raised their price objective on Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a research report on Wednesday.

Insider Activity

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the sale, the director owned 73,645 shares in the company, 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 SEC, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.