Antero Midstream Corporation (NYSE:AM) Stake Raised by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its stake in Antero Midstream Corporation by 176.9%, acquiring 43,686 shares to reach a total of 68,385 shares valued at approximately $1.23 million.
• Analysts have raised their price targets for Antero Midstream, with Morgan Stanley and Wells Fargo setting new targets at $19.00, while Wall Street Zen upgraded the stock from a "hold" to a "buy" rating.
• Antero Midstream announced a quarterly dividend of $0.225 per share, resulting in an annualized yield of 4.9% and a high dividend payout ratio of 94.74%.

Ontario Teachers Pension Plan Board raised its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 176.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,385 shares of the pipeline company's stock after acquiring an additional 43,686 shares during the period. Ontario Teachers Pension Plan Board's holdings in Antero Midstream were worth $1,231,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC acquired a new position in shares of Antero Midstream in the first quarter valued at approximately $29,000. UMB Bank n.a. lifted its position in shares of Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after buying an additional 2,188 shares during the last quarter. TD Waterhouse Canada Inc. raised its position in 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 purchasing an additional 963 shares during the last quarter. GAMMA Investing LLC raised its position in 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 purchasing an additional 2,165 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Antero Midstream by 7.1% during the first quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after purchasing an additional 629 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company's stock.

Wall Street Analyst Weigh In

AM has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Morgan Stanley increased 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. Finally, Wells Fargo & Company increased their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st.

Insider Activity

In other news, Director Brooks J. Klimley sold 5,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the transaction, the director owned 73,645 shares of the company's stock, valued at approximately $1,390,417.60. The trade was a 6.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.86% of the company's stock.

Antero Midstream Trading Down 0.6%

Shares of AM stock traded down $0.12 during trading hours on Wednesday, hitting $18.15. 659,375 shares of the company were exchanged, compared to its average volume of 3,134,711. The firm has a market cap of $8.68 billion, a PE ratio of 19.09 and a beta of 0.97. Antero Midstream Corporation has a 1 year low of $13.99 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 firm has a fifty day moving average of $18.05 and a 200 day moving average of $17.47.

Antero Midstream (NYSE:AM - Get Free Report) last posted 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 company had revenue of $305.47 million for 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 21.67%. The business's quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. Analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 5.0%. 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.