MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Antero Midstream Corporation $AM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Antero Midstream Corporation by 17.6%, owning approximately 4.66 million shares valued at $83.9 million after acquiring 697,234 additional shares in the first quarter.
• Institutional investors collectively own 53.97% of Antero Midstream, with notable increases in stakes from UMB Bank n.a. (up 170.8%) and Brooklyn Investment Group (up 41.2%) during the same period.
• Analysts have raised Antero Midstream’s ratings, with Zacks moving it from "hold" to "strong buy" and several firms increasing their price targets to a consensus of $18.50, indicating positive market sentiment for the stock.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 17.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,662,358 shares of the pipeline company's stock after buying an additional 697,234 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.97% of Antero Midstream worth $83,922,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AM. Transce3nd LLC purchased a new position in shares of Antero Midstream during the first quarter valued at approximately $29,000. UMB Bank n.a. lifted its stake in shares of Antero Midstream by 170.8% during the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock valued at $62,000 after buying an additional 2,188 shares during the period. Brooklyn Investment Group lifted its stake in shares of Antero Midstream by 41.2% during the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock valued at $82,000 after buying an additional 1,328 shares during the period. GAMMA Investing LLC lifted its stake in shares of Antero Midstream by 34.0% during the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock valued at $154,000 after buying an additional 2,165 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in shares of Antero Midstream during the fourth quarter valued at approximately $159,000. 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 the stock in a transaction on 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Antero Midstream Price Performance

Antero Midstream stock opened at $18.23 on Friday. Antero Midstream Corporation has a 52-week low of $14.06 and a 52-week high of $19.08. The firm has a fifty day moving average of $17.84 and a 200-day moving average of $17.67. The firm has a market capitalization of $8.72 billion, a P/E ratio of 19.19 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 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 analyst estimates of $292.70 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The business's quarterly revenue was up 13.2% compared to the same quarter last year. As a group, analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were given a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. Antero Midstream's dividend payout ratio is presently 94.74%.

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.

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