Pacer Advisors Inc. Cuts Stock Holdings in Antero Midstream Corporation $AM

Key Points

• Pacer Advisors cut its Antero Midstream stake by 55.1% in the first quarter, selling 1.87 million shares and retaining 1.52 million shares worth approximately $34.7 million. Institutional investors collectively own 53.97% of the company.
• Antero Midstream shares opened at $22.02, near their 50-day moving average, with a market capitalization of $10.45 billion. The company declared a quarterly dividend of $0.225 per share, representing a 4.1% annualized yield.
• Analysts maintain a generally cautious outlook, with one Buy rating and five Hold ratings. The consensus rating is Hold, with an average price target of $24.50.

Pacer Advisors Inc. trimmed its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 55.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,523,061 shares of the pipeline company's stock after selling 1,867,833 shares during the period. Pacer Advisors Inc. owned approximately 0.32% of Antero Midstream worth $34,726,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. grew its position in Antero Midstream by 3.4% in the fourth quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company's stock worth $417,069,000 after acquiring an additional 776,791 shares in the last quarter. State Street Corp raised its position in Antero Midstream by 1.7% during the fourth quarter. State Street Corp now owns 11,337,298 shares of the pipeline company's stock valued at $201,691,000 after purchasing an additional 187,912 shares in the last quarter. Geode Capital Management LLC lifted its stake in Antero Midstream by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company's stock worth $186,328,000 after purchasing an additional 1,161,684 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Antero Midstream by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company's stock worth $208,148,000 after purchasing an additional 920,948 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock worth $69,739,000 after purchasing an additional 1,400,368 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Antero Midstream Stock Up 0.2%

AM opened at $22.02 on Tuesday. Antero Midstream Corporation has a 12 month low of $16.96 and a 12 month high of $23.83. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The business's 50-day moving average price is $22.02 and its 200-day moving average price is $21.60. The company has a market cap of $10.45 billion, a P/E ratio of 26.21 and a beta of 0.65.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, July 29th. Antero Midstream's dividend payout ratio (DPR) is presently 107.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AM. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. Wells Fargo & Company upped their target price on Antero Midstream from $23.00 to $24.00 and gave the stock an "equal weight" rating in a research note on Monday. Morgan Stanley upgraded shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of Antero Midstream from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $24.50.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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