SCS Capital Management LLC Acquires New Holdings in Antero Midstream Corporation $AM

Key Points

• SCS Capital Management LLC has acquired 13,953 shares of Antero Midstream Corporation valued at approximately $251,000.
• Multiple institutional investors, including Boston Trust Walden Corp and Goldman Sachs, have significantly increased their holdings in Antero Midstream, indicating a strong institutional interest in the company.
• Analysts have recently upgraded Antero Midstream's stock ratings, with some firms setting higher price targets, highlighting a positive outlook for the company's performance.

SCS Capital Management LLC acquired a new stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,953 shares of the pipeline company's stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also bought and sold shares of AM. Boston Trust Walden Corp purchased a new position in Antero Midstream in the first quarter worth $51,269,000. SIR Capital Management L.P. purchased a new position in Antero Midstream in the fourth quarter worth $35,058,000. Tortoise Capital Advisors L.L.C. grew its holdings in Antero Midstream by 31.7% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company's stock worth $167,614,000 after purchasing an additional 2,242,283 shares during the last quarter. Nuveen LLC purchased a new position in Antero Midstream in the first quarter worth $25,226,000. Finally, Goldman Sachs Group Inc. grew its holdings in Antero Midstream by 56.6% in the first 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 during the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on AM. Morgan Stanley lifted their price target on shares of 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 shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. The Goldman Sachs Group lifted their price target on shares of Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a report on Monday, August 18th. Wells Fargo & Company lifted their price objective 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. Finally, Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Antero Midstream presently has an average rating of "Hold" and a consensus target price of $18.50.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of 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 document filed with the SEC, which is available at this hyperlink. 0.86% of the stock is owned by corporate insiders.

Antero Midstream Stock Performance

Shares of AM stock opened at $18.63 on Friday. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 19.61 and a beta of 0.92. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average of $17.83 and a 200 day moving average of $17.74. Antero Midstream Corporation has a 1 year low of $14.22 and a 1 year high of $19.08.

Antero Midstream (NYSE:AM - Get Free Report) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm's quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. As a group, research analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. Antero Midstream's payout ratio is currently 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.

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