Antero Midstream Corporation $AM Position Reduced by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Antero Midstream Corporation by 2.1%, now owning 4,021,064 shares valued at approximately $72.4 million.
• Several hedge funds have adjusted their holdings in Antero Midstream, with CWM LLC increasing its position by 7.1% in the same quarter.
• Analysts have mixed views on Antero Midstream, with consensus ratings showing one "Strong Buy," two "Hold," and one "Sell," and an average price target of $18.50.

Northern Trust Corp trimmed its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,021,064 shares of the pipeline company's stock after selling 84,315 shares during the quarter. Northern Trust Corp owned approximately 0.84% of Antero Midstream worth $72,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in AM. Transce3nd LLC bought a new stake in shares of Antero Midstream in the 1st quarter valued at approximately $29,000. UMB Bank n.a. increased its holdings in shares of Antero Midstream by 170.8% in the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock valued at $62,000 after acquiring an additional 2,188 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Antero Midstream by 41.2% in the 1st quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock valued at $82,000 after acquiring an additional 1,328 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Antero Midstream by 20.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock valued at $85,000 after acquiring an additional 963 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Antero Midstream by 34.0% in the 1st quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock valued at $154,000 after acquiring an additional 2,165 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of the 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 directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AM. Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Morgan Stanley raised their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company raised their price target 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, The Goldman Sachs Group raised their price target on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Antero Midstream has a consensus rating of "Hold" and an average price target of $18.50.

Antero Midstream Stock Performance

AM stock traded down $0.08 on Friday, reaching $17.77. The company's stock had a trading volume of 2,271,927 shares, compared to its average volume of 2,412,939. Antero Midstream Corporation has a 52 week low of $14.06 and a 52 week high of $19.08. The company has a market capitalization of $8.50 billion, a P/E ratio of 18.70 and a beta of 0.92. The firm has a fifty day moving average of $17.91 and a two-hundred day moving average of $17.64. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) 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 business had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. During the same period in the prior year, the company posted $0.23 EPS. The business's revenue for the quarter 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 fiscal year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.1%. 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.