Thrivent Financial for Lutherans Grows Stock Holdings in Antero Midstream Corporation $AM

Key Points

• Thrivent Financial for Lutherans increased its Antero Midstream stake by 41.8% in the fourth quarter, buying an additional 216,416 shares and bringing its total holding to 733,861 shares worth about $13.1 million.
• Insider selling has also been notable, including sales by Director Brooks J. Klimley and insider Michael N. Kennedy; insiders have sold 213,269 shares worth about $4.7 million over the last three months.
• Antero Midstream reported quarterly EPS of $0.25, slightly below estimates, while revenue came in above expectations at $314.2 million. The company also pays a quarterly dividend of $0.225 per share, implying an annualized yield of about 4.0%.

Thrivent Financial for Lutherans boosted its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 41.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 733,861 shares of the pipeline company's stock after buying an additional 216,416 shares during the quarter. Thrivent Financial for Lutherans owned 0.15% of Antero Midstream worth $13,056,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in shares of Antero Midstream in the 3rd quarter worth approximately $25,000. Elevation Wealth Partners LLC acquired a new position in Antero Midstream during the fourth quarter worth $27,000. Quent Capital LLC acquired a new position in Antero Midstream during the third quarter worth $28,000. Hantz Financial Services Inc. boosted its position in Antero Midstream by 138.1% during the third quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company's stock worth $52,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Antero Midstream by 401.4% in the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company's stock valued at $53,000 after purchasing an additional 2,224 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the transaction, the director owned 69,680 shares of the company's stock, valued at $1,613,788.80. This represents a 6.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael N. Kennedy sold 100,000 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This trade represents a 6.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 213,269 shares of company stock worth $4,713,681 in the last three months. 0.86% of the stock is owned by insiders.

Antero Midstream Trading Up 1.3%

Antero Midstream stock opened at $22.28 on Tuesday. The stock has a 50-day moving average price of $22.19 and a 200 day moving average price of $19.95. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83. The stock has a market cap of $10.58 billion, a PE ratio of 25.90 and a beta of 0.68. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89.

Antero Midstream (NYSE:AM - Get Free Report) last released its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The firm had revenue of $314.21 million during the quarter, compared to analysts' expectations of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. Antero Midstream's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the company posted $0.25 earnings per share. Equities research analysts predict that Antero Midstream Corporation will post 1.14 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. Antero Midstream's dividend payout ratio (DPR) is 104.65%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Friday, March 6th. Zacks Research cut shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Wells Fargo & Company lifted their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Friday, March 13th. UBS Group upped their price target on shares of Antero Midstream from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, March 25th. Finally, The Goldman Sachs Group increased their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $24.00.

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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