Victory Capital Management Inc. Acquires 218,559 Shares of Antero Midstream Corporation $AM

Key Points

• Victory Capital Management increased its stake in Antero Midstream by 64.6% in Q3, buying 218,559 shares to hold 556,708 shares worth about $10.82 million (≈0.12% of the company).
• Other large institutions also built positions — notably Norges Bank ($80.5M), Bank of New York Mellon (7.85M shares, ~$152.6M) and Goldman Sachs — leaving institutional investors with roughly 53.97% ownership of AM.
• Antero Midstream topped quarterly estimates with $0.28 EPS (vs. $0.24 expected) and $297M revenue, and pays a quarterly dividend of $0.225 (annual $0.90, ~3.9% yield) despite a high payout ratio of 104.65%.

Victory Capital Management Inc. raised its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 64.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 556,708 shares of the pipeline company's stock after purchasing an additional 218,559 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of Antero Midstream worth $10,822,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AM. Norges Bank purchased a new stake in shares of Antero Midstream during the second quarter valued at $80,504,000. Bank of New York Mellon Corp lifted its stake in Antero Midstream by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company's stock valued at $152,574,000 after acquiring an additional 1,430,138 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock valued at $69,739,000 after acquiring an additional 1,400,368 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Antero Midstream in the second quarter worth approximately $20,044,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Antero Midstream in the second quarter worth approximately $18,811,000. Institutional investors own 53.97% of the company's stock.

Insider Buying and Selling

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the completion of the sale, the director directly owned 72,622 shares of the company's stock, valued at approximately $1,277,420.98. This represents a 6.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sheri Pearce sold 14,000 shares of Antero Midstream stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $22.76, for a total transaction of $318,640.00. Following the transaction, the insider directly owned 99,900 shares in the company, valued at $2,273,724. This represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 44,000 shares of company stock valued at $976,840. 0.86% of the stock is owned by corporate insiders.

Antero Midstream Trading Up 2.4%

Shares of Antero Midstream stock opened at $23.12 on Thursday. Antero Midstream Corporation has a 1-year low of $15.07 and a 1-year high of $23.13. The company's fifty day simple moving average is $19.89 and its 200-day simple moving average is $18.75. The company has a debt-to-equity ratio of 1.63, a current ratio of 3.41 and a quick ratio of 3.41. The stock has a market capitalization of $10.94 billion, a PE ratio of 26.89 and a beta of 0.77.

Antero Midstream (NYSE:AM - Get Free Report) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.04. The company had revenue of $297.00 million for the quarter, compared to analysts' expectations of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.Antero Midstream's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. As a group, equities analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were paid a dividend of $0.225 per share. The ex-dividend date was Wednesday, January 28th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.9%. Antero Midstream's payout ratio is 104.65%.

Analyst Upgrades and Downgrades

AM has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price objective 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. Zacks Research cut Antero Midstream from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Weiss Ratings raised Antero Midstream from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, March 6th. Morgan Stanley upped their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an "underweight" rating in a research report on Wednesday, November 12th. Finally, Wells Fargo & Company increased their target price on Antero Midstream from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $21.33.

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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