Antero Midstream Corporation (NYSE:AM) Shares Sold by Morningstar Investment Management LLC

Key Points

• Morningstar Investment Management LLC has reduced its stake in Antero Midstream Corporation by 54.0%, selling 24,131 shares, and now holds 20,562 shares valued at $370,000.
• Recent analyst ratings show a mixed outlook, with Morgan Stanley maintaining an "underweight" rating but increasing the target price to $17.00, while Wall Street Zen upgraded the stock from "hold" to "buy."
• Antero Midstream announced a $0.225 quarterly dividend, amounting to a 5.33% yield, with a payout ratio of 103.45%.

Morningstar Investment Management LLC decreased its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 54.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,562 shares of the pipeline company's stock after selling 24,131 shares during the period. Morningstar Investment Management LLC's holdings in Antero Midstream were worth $370,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AM. Vanguard Group Inc. increased its stake in Antero Midstream by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 35,868,153 shares of the pipeline company's stock valued at $541,250,000 after purchasing an additional 96,788 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Antero Midstream by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,112,929 shares of the pipeline company's stock worth $137,516,000 after acquiring an additional 71,361 shares during the period. Tortoise Capital Advisors L.L.C. grew its stake in shares of Antero Midstream by 2.0% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 7,069,598 shares of the pipeline company's stock worth $106,680,000 after acquiring an additional 135,886 shares during the period. Geode Capital Management LLC grew its stake in shares of Antero Midstream by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 6,106,502 shares of the pipeline company's stock worth $92,174,000 after acquiring an additional 25,001 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Antero Midstream by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 5,991,546 shares of the pipeline company's stock valued at $107,848,000 after buying an additional 295,432 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

Insider Transactions at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the sale, the director directly owned 73,645 shares in the company, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

AM has been the subject of several recent research reports. Morgan Stanley restated an "underweight" rating and set a $17.00 target price (up from $16.00) on shares of Antero Midstream in a research report on Tuesday, June 3rd. Wells Fargo & Company boosted their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd.

Antero Midstream Price Performance

Shares of AM stock traded up $0.16 during mid-day trading on Friday, hitting $18.51. The company had a trading volume of 2,742,350 shares, compared to its average volume of 3,165,767. The company has a market capitalization of $8.87 billion, a P/E ratio of 19.48 and a beta of 1.01. The stock's 50 day moving average price is $18.10 and its 200-day moving average price is $17.35. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.42 and a quick ratio of 1.42. Antero Midstream Corporation has a 52-week low of $13.12 and a 52-week high of $19.08.

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 for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.61%. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities research analysts forecast that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, July 23rd. Antero Midstream's payout ratio is 103.45%.

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.