Antero Midstream Corporation $AM Stock Holdings Lifted by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. NY increased its stake in Antero Midstream Corporation by 11.2%, owning nearly 1.93 million shares valued at approximately $36.5 million as of the end of the second quarter.
• Other institutional investors have also been active, with Invesco Ltd. increasing its holdings by 2.0% and Tortoise Capital Advisors L.L.C. boosting theirs by 31.7% in the first quarter, indicating strong institutional interest in Antero.
• Antero Midstream recently announced a quarterly dividend of $0.225 per share, representing a yield of 4.8%, while its payout ratio stands at 94.74%.

Miller Howard Investments Inc. NY grew its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,925,498 shares of the pipeline company's stock after purchasing an additional 194,282 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.40% of Antero Midstream worth $36,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of AM. Boston Trust Walden Corp purchased a new stake in Antero Midstream during the first quarter worth about $51,269,000. Tortoise Capital Advisors L.L.C. boosted its holdings in Antero Midstream by 31.7% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company's stock valued at $167,614,000 after purchasing an additional 2,242,283 shares during the period. Nuveen LLC acquired a new position in Antero Midstream during the 1st quarter worth $25,226,000. Goldman Sachs Group Inc. increased its holdings in Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock worth $69,739,000 after purchasing an additional 1,400,368 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Antero Midstream by 17.6% in 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 purchasing an additional 697,234 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company's stock.

Insider Activity

In other news, insider Sheri Pearce sold 39,155 shares of Antero Midstream stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.86% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective 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. Morgan Stanley raised their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Zacks Research raised shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. The Goldman Sachs Group raised their price target on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a research note on Monday, August 18th. Finally, Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $18.50.

Antero Midstream Trading Down 0.3%

Shares of AM stock traded down $0.05 on Friday, reaching $18.57. 7,260,613 shares of the stock were exchanged, compared to its average volume of 2,163,338. The firm has a 50 day moving average of $17.92 and a two-hundred day moving average of $17.81. Antero Midstream Corporation has a 1-year low of $14.22 and a 1-year high of $19.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. The stock has a market cap of $8.89 billion, a P/E ratio of 19.55 and a beta of 0.92.

Antero Midstream (NYSE:AM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The company had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. During the same period in the previous year, the firm earned $0.23 earnings per share. Antero Midstream's revenue for the quarter was up 13.2% on a year-over-year basis. On average, research analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

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

About Antero Midstream

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.