Intech Investment Management LLC Acquires 312,174 Shares of Antero Midstream Corporation $AM

Key Points

• Intech Investment Management boosted its Antero Midstream stake by 68.1% in the fourth quarter, adding 312,174 shares to bring its total holdings to 770,783 shares valued at about $13.7 million.
• Several other institutional investors also increased positions, and institutions now own 53.97% of the company’s stock. However, insiders have been selling shares recently, including a 100,000-share sale by Michael N. Kennedy under a Rule 10b5-1 plan.
• Antero Midstream reported quarterly EPS of $0.25, narrowly missing estimates, while revenue came in slightly above expectations and rose 7.9% year over year. The company also paid a quarterly dividend of $0.225 per share, representing a 4.3% yield.

Intech Investment Management LLC grew its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 68.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 770,783 shares of the pipeline company's stock after purchasing an additional 312,174 shares during the period. Intech Investment Management LLC owned approximately 0.16% of Antero Midstream worth $13,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Antero Midstream by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company's stock valued at $186,328,000 after purchasing an additional 1,161,684 shares during the period. Bleakley Financial Group LLC raised its position in shares of Antero Midstream by 15.9% in the fourth quarter. Bleakley Financial Group LLC now owns 18,336 shares of the pipeline company's stock valued at $326,000 after purchasing an additional 2,520 shares during the period. Hantz Financial Services Inc. raised its position in shares of Antero Midstream by 23.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,305 shares of the pipeline company's stock valued at $59,000 after purchasing an additional 617 shares during the period. Global Retirement Partners LLC raised its position in shares of Antero Midstream by 130.5% in the fourth quarter. Global Retirement Partners LLC now owns 5,216 shares of the pipeline company's stock valued at $93,000 after purchasing an additional 2,953 shares during the period. Finally, Covestor Ltd raised its position in shares of Antero Midstream by 437.7% in the fourth quarter. Covestor Ltd now owns 4,307 shares of the pipeline company's stock valued at $77,000 after purchasing an additional 3,506 shares during the period. Institutional investors own 53.97% of the company's stock.

Insider Buying and Selling at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the completion of the sale, the director owned 69,680 shares of the company's stock, valued at approximately $1,613,788.80. This represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael N. Kennedy sold 100,000 shares of the company's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider directly owned 1,500,594 shares of the company's stock, valued at $32,893,020.48. This trade represents a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 213,269 shares of company stock worth $4,713,681 over the last 90 days. Company insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on AM. The Goldman Sachs Group boosted their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. Zacks Research lowered shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 2nd. Morgan Stanley raised shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price on the stock in a report on Wednesday, April 22nd. UBS Group upped their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company upped their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Antero Midstream has an average rating of "Hold" and an average target price of $24.00.

Antero Midstream Price Performance

AM stock opened at $20.91 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. Antero Midstream Corporation has a one year low of $16.77 and a one year high of $23.83. The stock has a market cap of $9.93 billion, a PE ratio of 24.31 and a beta of 0.68. The firm has a 50 day simple moving average of $21.98 and a two-hundred day simple moving average of $20.20.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company had revenue of $314.21 million during the quarter, compared to analysts' expectations of $311.30 million. During the same period in the prior year, the firm earned $0.25 EPS. Antero Midstream's quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts predict that Antero Midstream Corporation will post 1.13 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream's payout ratio is currently 104.65%.

Antero Midstream Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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