Invesco Ltd. Raises Holdings in Antero Midstream Corporation (NYSE:AM)

Key Points

• Invesco Ltd. increased its stake in Antero Midstream Corporation by 2.0%, acquiring an additional 586,966 shares, bringing its total ownership to 30,631,765 shares valued at approximately $551.37 million.
• Antero Midstream reported earnings of $0.26 per share for the last quarter, exceeding estimates and marking a 13.2% increase in quarterly revenue year-over-year.
• The company declared a $0.225 quarterly dividend, representing an annualized yield of 4.9%, with the payout ratio currently at 94.74%.

Invesco Ltd. boosted its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,631,765 shares of the pipeline company's stock after purchasing an additional 586,966 shares during the period. Invesco Ltd. owned about 6.39% of Antero Midstream worth $551,372,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Hancock Whitney Corp increased its holdings in Antero Midstream by 1.5% during the 4th quarter. Hancock Whitney Corp now owns 43,085 shares of the pipeline company's stock valued at $650,000 after purchasing an additional 624 shares during the period. CWM LLC increased its holdings 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 purchasing an additional 629 shares during the period. Private Advisor Group LLC increased its holdings in Antero Midstream by 1.6% during the 1st quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock valued at $733,000 after purchasing an additional 640 shares during the period. Commerce Bank grew its holdings in shares of Antero Midstream by 5.0% during the 1st quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock worth $301,000 after acquiring an additional 800 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Antero Midstream by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 194,907 shares of the pipeline company's stock worth $3,507,000 after acquiring an additional 845 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

Antero Midstream Stock Down 1.1%

Shares of Antero Midstream stock traded down $0.20 during midday trading on Tuesday, hitting $18.26. The company had a trading volume of 2,560,103 shares, compared to its average volume of 2,992,666. 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 capitalization of $8.74 billion, a P/E ratio of 19.22 and a beta of 0.97. The company has a 50 day moving average of $18.05 and a 200 day moving average of $17.47. Antero Midstream Corporation has a 52-week low of $13.77 and a 52-week high of $19.08.

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. The company had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%. The firm's quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. On average, equities analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.9%. The ex-dividend date was Wednesday, July 23rd. Antero Midstream's dividend payout ratio (DPR) is currently 94.74%.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total transaction of $94,400.00. Following the sale, the director directly owned 73,645 shares in the company, valued at approximately $1,390,417.60. This trade represents a 6.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AM shares. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company upped their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Finally, Morgan Stanley upped their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th.

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.