Russell Investments Group Ltd. Increases Position in Antero Midstream Corporation $AM

Key Points

• Russell Investments Group Ltd. increased its holdings in Antero Midstream Corporation by 94.4%, owning 45,070 shares valued at $811,000 following the acquisition of 21,886 additional shares in the first quarter.
• Antero Midstream reported a quarterly earnings per share (EPS) of $0.26, surpassing expectations, with revenues climbing by 13.2% year-over-year to $305.47 million.
• The company declared a quarterly dividend of $0.225 per share, resulting in an annualized dividend yield of 5.1%, with a payout ratio of 94.74%.

Russell Investments Group Ltd. lifted its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 94.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,070 shares of the pipeline company's stock after buying an additional 21,886 shares during the quarter. Russell Investments Group Ltd.'s holdings in Antero Midstream were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AM. Transce3nd LLC purchased a new stake in shares of Antero Midstream during the first quarter worth about $29,000. UMB Bank n.a. grew its position in shares of Antero Midstream by 170.8% during the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after purchasing an additional 2,188 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Antero Midstream by 34.0% during the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after purchasing an additional 2,165 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Antero Midstream during the 4th quarter valued at approximately $159,000. Finally, CWM LLC grew its holdings in Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock valued at $170,000 after buying an additional 629 shares in the last quarter. Institutional investors own 53.97% of the company's stock.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of Antero Midstream stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the sale, the insider directly owned 106,489 shares of the company's stock, valued at $1,864,622.39. The trade was a 26.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.86% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wells Fargo & Company raised their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Morgan Stanley raised their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. The Goldman Sachs Group raised their price target on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a report on Monday, August 18th. Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Finally, Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Antero Midstream presently has a consensus rating of "Hold" and a consensus target price of $18.50.

Antero Midstream Stock Up 1.3%

NYSE AM traded up $0.24 on Thursday, reaching $18.10. 2,786,774 shares of the stock traded hands, compared to its average volume of 2,099,916. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.03 and a current ratio of 1.03. The company has a fifty day moving average price of $17.85 and a 200-day moving average price of $17.66. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 19.05 and a beta of 0.92. Antero Midstream Corporation has a 12 month low of $14.06 and a 12 month high of $19.08.

Antero Midstream (NYSE:AM - Get Free Report) last issued its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.Antero Midstream's revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. As a group, research analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a yield of 5.0%. Antero Midstream's payout ratio is 94.74%.

Antero Midstream Company 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.