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 trimmed its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 41.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Invesco Ltd. grew its stake in shares of Antero Midstream by 2.0% in the first quarter. Invesco Ltd. now owns 30,631,765 shares of the pipeline company's stock valued at $551,372,000 after buying an additional 586,966 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its position in shares of Antero Midstream by 31.7% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company's stock worth $167,614,000 after acquiring an additional 2,242,283 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Antero Midstream by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company's stock worth $164,653,000 after purchasing an additional 34,596 shares during the last quarter. Bank of New York Mellon Corp grew its position in Antero Midstream by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,991,546 shares of the pipeline company's stock worth $107,848,000 after purchasing an additional 295,432 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Antero Midstream by 17.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company's stock valued at $83,922,000 after acquiring an additional 697,234 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Stock Up 1.1%

Shares of NYSE:AM traded up $0.21 on Wednesday, reaching $18.52. The company had a trading volume of 2,439,308 shares, compared to its average volume of 2,182,724. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.08. The stock has a 50-day moving average price of $17.88 and a 200 day moving average price of $17.78. The stock has a market capitalization of $8.86 billion, a P/E ratio of 19.49 and a beta of 0.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $292.70 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The business's quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $0.225 per share. 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%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AM. Wells Fargo & Company lifted their target price on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note 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. Zacks Research raised Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. The Goldman Sachs Group boosted their target price on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research report on Monday, August 18th. Finally, Morgan Stanley boosted their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.50.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 of the company's stock, valued at $1,864,622.39. This represents a 26.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.86% of the stock is currently owned by company 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.