Victory Capital Management Inc. Sells 83,070 Shares of Antero Midstream Corporation (NYSE:AM)

Key Points

• Victory Capital Management Inc. reduced its stake in Antero Midstream Corporation by 42.4%, owning 112,814 shares after selling 83,070 shares in the first quarter.
• Analysts have mixed ratings for Antero Midstream, with Morgan Stanley maintaining an "underweight" rating and a price target of $17.00, while other analysts upgraded it to a "buy".
• Antero Midstream announced a quarterly dividend of $0.225 per share, yielding 5.33%, with a payout ratio of 103.45%.

Victory Capital Management Inc. trimmed its holdings in Antero Midstream Corporation (NYSE:AM - Free Report) by 42.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,814 shares of the pipeline company's stock after selling 83,070 shares during the quarter. Victory Capital Management Inc.'s holdings in Antero Midstream were worth $2,031,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AM. UMB Bank n.a. grew its position in shares of Antero Midstream by 170.8% during the 1st quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after buying an additional 2,188 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of 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. Brown Brothers Harriman & Co. bought a new position in shares of Antero Midstream during the 4th quarter valued at about $119,000. GAMMA Investing LLC lifted its holdings in shares of 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. Finally, EP Wealth Advisors LLC bought a new position in shares of Antero Midstream during the 4th quarter valued at about $159,000. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AM. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd. Wells Fargo & Company boosted their target price on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Morgan Stanley restated an "underweight" rating and issued a $17.00 target price (up previously from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the transaction, the director directly owned 73,645 shares of the company's stock, valued at $1,390,417.60. This represents a 6.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Antero Midstream Stock Up 1.3%

NYSE AM traded up $0.25 during trading on Friday, hitting $18.60. The stock had a trading volume of 1,497,522 shares, compared to its average volume of 3,157,317. Antero Midstream Corporation has a 12 month low of $13.12 and a 12 month high of $19.08. The company has a market capitalization of $8.91 billion, a PE ratio of 19.56 and a beta of 1.01. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.42 and a current ratio of 1.42. The company's 50-day moving average price is $18.10 and its two-hundred day moving average price is $17.35.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. The company 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 21.61% and a net margin of 39.53%. The business's revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. As a group, sell-side analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, July 23rd. Antero Midstream's dividend payout ratio is currently 103.45%.

About Antero Midstream

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.