Vanguard Group Inc. Cuts Stock Holdings in Antero Midstream Corporation $AM

Key Points

• Vanguard Group trimmed its stake in Antero Midstream by 3.1% in Q4, selling 1,137,274 shares and now holds 36,075,910 shares (7.57%) worth about $641.8 million.
• Antero Midstream declared a quarterly dividend of $0.225 (annualized $0.90) for a yield of 4.1%, with an ex-dividend date of April 29 and a payout ratio of 104.65%.
• The stock has a consensus "Hold" rating with a $24 price target; the company reported quarterly EPS of $0.25 (missing estimates by $0.01) and revenue of $314.2 million, up 7.9% year-over-year.

Vanguard Group Inc. reduced its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,075,910 shares of the pipeline company's stock after selling 1,137,274 shares during the quarter. Vanguard Group Inc. owned 7.57% of Antero Midstream worth $641,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AM. Richardson Financial Services Inc. grew its position in Antero Midstream by 330.2% during the third quarter. Richardson Financial Services Inc. now owns 1,295 shares of the pipeline company's stock worth $25,000 after buying an additional 994 shares during the period. Root Financial Partners LLC acquired a new stake in Antero Midstream during the third quarter worth approximately $25,000. Elevation Wealth Partners LLC acquired a new stake in Antero Midstream during the fourth quarter worth approximately $27,000. Quent Capital LLC purchased a new position in Antero Midstream during the third quarter worth approximately $28,000. Finally, Global Retirement Partners LLC raised its stake in Antero Midstream by 33.3% during the third quarter. Global Retirement Partners LLC now owns 2,263 shares of the pipeline company's stock worth $44,000 after purchasing an additional 565 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Yvette K. Schultz sold 25,000 shares of Antero Midstream stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $22.81, for a total value of $570,250.00. Following the transaction, the insider directly owned 649,834 shares of the company's stock, valued at $14,822,713.54. This trade represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sheri Pearce sold 14,000 shares of Antero Midstream stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the transaction, the insider directly owned 99,900 shares in the company, valued at approximately $2,273,724. This trade represents a 12.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,000 shares of company stock worth $1,004,690 in the last ninety days. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AM has been the topic of a number of recent analyst reports. Morgan Stanley raised shares of Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price target on the stock in a research note on Wednesday, April 22nd. Zacks Research downgraded shares of Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. UBS Group raised their price objective on shares of Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, March 25th. The Goldman Sachs Group raised their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a report on Tuesday, February 24th. Finally, Wells Fargo & Company lifted their price target on shares of Antero Midstream from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $24.00.

Antero Midstream Stock Up 0.2%

AM stock opened at $21.74 on Monday. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 25.27 and a beta of 0.68. The firm's 50-day moving average is $22.36 and its two-hundred day moving average is $19.70. 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 quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company had revenue of $314.21 million for the quarter, compared to the consensus estimate of $311.30 million. During the same quarter last year, the firm posted $0.25 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. On average, analysts forecast that Antero Midstream Corporation will post 1.13 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Wednesday, April 29th. Antero Midstream's payout ratio is presently 104.65%.

About Antero Midstream

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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