Intech Investment Management LLC Sells 97,211 Shares of Antero Midstream Corporation $AM

Key Points

• Intech Investment Management LLC reduced its holdings in Antero Midstream Corporation by 41.6% this past quarter, now owning 136,746 shares valued at approximately $2.46 million.
• Several institutional investors have increased their stakes in Antero Midstream, including UMB Bank, which raised its position by 170.8% in the first quarter.
• Wall Street analysts have mixed reviews on Antero Midstream, with Goldman Sachs raising its target price to $17.50 and Zacks upgrading the stock to a "strong-buy" rating.

Intech Investment Management LLC decreased its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 41.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,746 shares of the pipeline company's stock after selling 97,211 shares during the quarter. Intech Investment Management LLC's holdings in Antero Midstream were worth $2,461,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AM. Allspring Global Investments Holdings LLC acquired a new position in Antero Midstream during the 1st quarter worth $529,000. Sequoia Financial Advisors LLC boosted its position in Antero Midstream by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 16,034 shares of the pipeline company's stock worth $289,000 after acquiring an additional 975 shares during the period. Silver Oak Securities Incorporated acquired a new position in Antero Midstream during the 1st quarter worth $459,000. KBC Group NV lifted its holdings in shares of Antero Midstream by 18.5% in the first quarter. KBC Group NV now owns 17,628 shares of the pipeline company's stock valued at $317,000 after buying an additional 2,757 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Antero Midstream by 102.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,356 shares of the pipeline company's stock valued at $852,000 after buying an additional 23,922 shares during the period. 53.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AM has been the subject of several research analyst reports. Morgan Stanley upped their price objective on Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Wells Fargo & Company upped their price objective on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. The Goldman Sachs Group upped their price objective on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a report on Monday, August 18th. Finally, Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $18.50.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the sale, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.86% of the stock is currently owned by company insiders.

Antero Midstream Stock Down 0.3%

Shares of NYSE AM traded down $0.05 during mid-day trading on Friday, reaching $18.57. 7,260,613 shares of the company traded hands, compared to its average volume of 2,163,338. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $8.89 billion, a PE ratio of 19.55 and a beta of 0.92. The company's fifty day moving average is $17.92 and its two-hundred day moving average is $17.80. Antero Midstream Corporation has a fifty-two week low of $14.22 and a fifty-two week high of $19.08.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $305.47 million for the quarter, compared to analyst estimates of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company's revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. On average, analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Wednesday, July 23rd. Antero Midstream's payout ratio is 94.74%.

Antero Midstream Company 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.