Northern Trust Corp Sells 84,315 Shares of Antero Midstream Corporation $AM

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 lowered its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,021,064 shares of the pipeline company's stock after selling 84,315 shares during the quarter. Northern Trust Corp owned about 0.84% of Antero Midstream worth $72,379,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Transce3nd LLC bought a new position in Antero Midstream during the 1st quarter valued at $29,000. UMB Bank n.a. grew its position in shares of Antero Midstream by 170.8% in the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock valued at $62,000 after purchasing an additional 2,188 shares during the last quarter. Brooklyn Investment Group grew its position in Antero Midstream by 41.2% during the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock worth $82,000 after buying an additional 1,328 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Antero Midstream by 20.5% during the fourth quarter. TD Waterhouse Canada Inc. now owns 5,657 shares of the pipeline company's stock worth $85,000 after buying an additional 963 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in 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 purchasing an additional 2,165 shares in the last quarter. 53.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AM shares. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Wells Fargo & Company upped their target price on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. The Goldman Sachs Group increased their price objective on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Zacks Research upgraded shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Finally, Morgan Stanley increased their price target 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. One equities 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 stock. Based on data from MarketBeat, Antero Midstream currently has a consensus rating of "Hold" and an average price target of $18.50.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the business's 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 transaction, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. The trade was 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 through the SEC website. 0.86% of the stock is currently owned by insiders.

Antero Midstream Stock Down 0.4%

AM traded down $0.08 during midday trading on Friday, hitting $17.77. The company had a trading volume of 2,271,925 shares, compared to its average volume of 3,084,454. Antero Midstream Corporation has a 52 week low of $14.06 and a 52 week 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 company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 18.70 and a beta of 0.97. The stock's 50 day moving average price is $17.92 and its 200 day moving average price is $17.61.

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, beating analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The business's revenue was up 13.2% on a year-over-year basis. During the same period last year, the company earned $0.23 earnings per share. On average, research analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a yield of 5.1%. Antero Midstream's 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.