Wellington Management Group LLP Raises Stake in Antero Midstream Corporation $AM

Key Points

• Wellington Management Group LLP increased its stake in Antero Midstream Corporation by 64.8% in the first quarter, acquiring an additional 221,332 shares to total 563,040 shares valued at approximately $10.1 million.
• Antero Midstream recently announced a quarterly dividend of $0.225 per share, reflecting an annualized dividend of $0.90 and a yield of 5.1%.
• Multiple research firms have upgraded their ratings on Antero Midstream, with Zacks Research going from "hold" to "strong-buy," indicating positive sentiment towards the company's future growth.

Wellington Management Group LLP boosted its position in Antero Midstream Corporation (NYSE:AM - Free Report) by 64.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 563,040 shares of the pipeline company's stock after purchasing an additional 221,332 shares during the quarter. Wellington Management Group LLP owned about 0.12% of Antero Midstream worth $10,135,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AM. Tower Research Capital LLC TRC raised its stake in Antero Midstream by 222.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,555 shares of the pipeline company's stock valued at $310,000 after purchasing an additional 14,182 shares during the last quarter. Stifel Financial Corp raised its stake in Antero Midstream by 1.7% in the 4th quarter. Stifel Financial Corp now owns 84,853 shares of the pipeline company's stock valued at $1,280,000 after purchasing an additional 1,401 shares during the last quarter. Hsbc Holdings PLC raised its stake in Antero Midstream by 629.1% in the 4th quarter. Hsbc Holdings PLC now owns 85,063 shares of the pipeline company's stock valued at $1,284,000 after purchasing an additional 73,396 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Antero Midstream by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 209,661 shares of the pipeline company's stock valued at $3,164,000 after purchasing an additional 17,198 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in Antero Midstream by 228.7% in the 4th quarter. Voya Investment Management LLC now owns 287,933 shares of the pipeline company's stock valued at $4,345,000 after purchasing an additional 200,327 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company's stock.

Antero Midstream Trading Down 0.6%

AM traded down $0.11 during midday trading on Tuesday, hitting $17.69. The company's stock had a trading volume of 2,117,770 shares, compared to its average volume of 2,251,037. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a 52-week low of $14.06 and a 52-week high of $19.08. The firm has a market cap of $8.46 billion, a P/E ratio of 18.62 and a beta of 0.92. The firm has a 50-day moving average price of $17.88 and a two-hundred day moving average price of $17.65.

Antero Midstream (NYSE:AM - Get Free Report) last issued its earnings results 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. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The business had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company's revenue for the quarter was up 13.2% on a year-over-year basis. On average, research analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.1%. Antero Midstream's payout ratio is presently 94.74%.

Insider Activity

In other news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the sale, the insider owned 106,489 shares in the company, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group lifted their price target on Antero Midstream from $15.50 to $17.50 and gave the company a "neutral" rating in a report on Monday, August 18th. Morgan Stanley lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Wells Fargo & Company lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Finally, Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Antero Midstream presently has a consensus 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.