Tortoise Capital Advisors L.L.C. Raises Stock Holdings in Antero Midstream Corporation $AM

Key Points

• Tortoise Capital Advisors L.L.C. increased its holdings in Antero Midstream Corporation by 31.7%, acquiring an additional 2,242,283 shares, bringing its total to 9,311,881 shares.
• Antero Midstream reported a quarterly earnings per share of $0.26, exceeding analysts' expectations, with revenue rising 13.2% year-over-year to $305.47 million.
• The company recently announced a quarterly dividend of $0.225 per share, providing an annualized yield of 5.1% and a payout ratio of 94.74%.

Tortoise Capital Advisors L.L.C. increased its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 31.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,311,881 shares of the pipeline company's stock after acquiring an additional 2,242,283 shares during the quarter. Antero Midstream accounts for approximately 2.0% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 15th largest position. Tortoise Capital Advisors L.L.C. owned approximately 1.94% of Antero Midstream worth $167,614,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Transce3nd LLC acquired a new stake in Antero Midstream in the 1st quarter valued at $29,000. UMB Bank n.a. increased its stake in Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock valued at $62,000 after purchasing an additional 2,188 shares in the last quarter. Brooklyn Investment Group increased its stake in Antero Midstream by 41.2% during the 1st quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock valued at $82,000 after purchasing an additional 1,328 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in Antero Midstream by 20.5% during 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 in the last quarter. Finally, GAMMA Investing LLC increased its stake in Antero Midstream by 34.0% during 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 in the last quarter. Institutional investors own 53.97% of the company's stock.

Insider Buying and Selling at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the transaction, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% of the company's stock.

Antero Midstream Price Performance

Shares of AM traded up $0.06 during midday trading on Wednesday, hitting $17.83. 565,990 shares of the company traded hands, compared to its average volume of 3,088,836. The stock has a 50-day moving average of $17.93 and a 200-day moving average of $17.60. Antero Midstream Corporation has a one year low of $14.06 and a one year high of $19.08. The firm has a market cap of $8.53 billion, a P/E ratio of 18.76 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03.

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

Antero Midstream Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley boosted their price target 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. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. 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 report on Friday, August 1st. The Goldman Sachs Group lifted their price objective 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. Finally, Zacks Research raised shares of Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Antero Midstream currently has an average rating of "Hold" and an average target price of $18.50.

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.