Antero Midstream Corporation $AM Shares Purchased by Tortoise Capital Advisors L.L.C.

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. boosted its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 31.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,311,881 shares of the pipeline company's stock after purchasing an additional 2,242,283 shares during the quarter. Antero Midstream comprises about 2.0% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 15th biggest position. Tortoise Capital Advisors L.L.C. owned 1.94% of Antero Midstream worth $167,614,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AM. Russell Investments Group Ltd. increased its holdings in Antero Midstream by 11.1% during the 4th quarter. Russell Investments Group Ltd. now owns 23,184 shares of the pipeline company's stock worth $350,000 after purchasing an additional 2,309 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Antero Midstream in the 4th quarter valued at $5,722,000. Mariner LLC increased its holdings in shares of Antero Midstream by 28.8% in the 4th quarter. Mariner LLC now owns 105,514 shares of the pipeline company's stock valued at $1,592,000 after acquiring an additional 23,577 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Antero Midstream by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,112,929 shares of the pipeline company's stock valued at $137,516,000 after acquiring an additional 71,361 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in shares of Antero Midstream by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 195,670 shares of the pipeline company's stock valued at $2,953,000 after acquiring an additional 15,624 shares during the period. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Antero Midstream Stock Performance

Shares of Antero Midstream stock traded up $0.20 on Tuesday, reaching $17.78. 2,064,727 shares of the stock were exchanged, compared to its average volume of 3,104,967. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a twelve month low of $14.06 and a twelve month high of $19.08. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 18.71 and a beta of 0.97. The business has a 50 day moving average price of $17.94 and a two-hundred day moving average price of $17.59.

Antero Midstream (NYSE:AM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $305.47 million during 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 for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a $0.225 dividend. 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 5.1%. Antero Midstream's dividend payout ratio is presently 94.74%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AM shares. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Zacks Research raised Antero Midstream from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 21st. Wells Fargo & Company raised their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Morgan Stanley raised their price objective on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group raised their price objective on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research report on Monday, August 18th. One 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 stock. Based on data from MarketBeat.com, Antero Midstream presently has an average rating of "Hold" and a consensus price target of $18.50.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the completion of the transaction, the insider owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. This represents a 26.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the completion of the transaction, the director directly owned 73,645 shares of the company's stock, valued at $1,390,417.60. The trade was a 6.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company's stock.

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.