Wellington Management Group LLP Boosts 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 raised its holdings in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 64.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 563,040 shares of the pipeline company's stock after buying 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 & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. CWM LLC grew its position in Antero Midstream by 7.1% during the first quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after buying an additional 629 shares in the last quarter. Private Advisor Group LLC grew its position in Antero Midstream by 1.6% during the first quarter. Private Advisor Group LLC now owns 40,726 shares of the pipeline company's stock worth $733,000 after buying an additional 640 shares in the last quarter. Commerce Bank grew its position in Antero Midstream by 5.0% during the first quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock worth $301,000 after buying an additional 800 shares in the last quarter. State of Alaska Department of Revenue grew its position in Antero Midstream by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 194,907 shares of the pipeline company's stock worth $3,507,000 after buying an additional 845 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Antero Midstream by 0.4% during the first quarter. QRG Capital Management Inc. now owns 253,566 shares of the pipeline company's stock worth $4,564,000 after buying an additional 899 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Antero Midstream

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 value of $685,604.05. Following the completion of the sale, the insider owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.86% of the company's stock.

Antero Midstream Trading Down 0.2%

NYSE AM opened at $17.74 on Thursday. Antero Midstream Corporation has a 1-year low of $14.06 and a 1-year high of $19.08. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. The stock has a 50-day moving average of $17.93 and a 200-day moving average of $17.60. The firm has a market cap of $8.49 billion, a PE ratio of 18.67 and a beta of 0.97.

Antero Midstream (NYSE:AM - Get Free Report) last released its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating 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 company had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. During the same quarter in the previous year, the company posted $0.23 EPS. Antero Midstream's revenue for the quarter was up 13.2% on a year-over-year basis. As a group, sell-side analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.

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