Westwood Holdings Group Inc. Boosts Holdings in Antero Midstream Corporation (NYSE:AM)

Key Points

• Westwood Holdings Group Inc. has increased its stake in Antero Midstream Corporation by 14.4%, now owning 2,456,235 shares valued at approximately $44.2 million.
• Several hedge funds have also boosted their positions in Antero Midstream, with significant increases including Gill Capital Partners' 68.1% boost.
• Antero Midstream recently set a quarterly dividend at $0.225 per share, reflecting an annualized yield of 4.9%.

Westwood Holdings Group Inc. raised its stake in Antero Midstream Corporation (NYSE:AM - Free Report) by 14.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,456,235 shares of the pipeline company's stock after buying an additional 308,637 shares during the period. Westwood Holdings Group Inc. owned approximately 0.51% of Antero Midstream worth $44,212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gill Capital Partners LLC lifted its stake in shares of Antero Midstream by 68.1% during the 1st quarter. Gill Capital Partners LLC now owns 40,443 shares of the pipeline company's stock worth $728,000 after purchasing an additional 16,381 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Antero Midstream by 8.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 21,573 shares of the pipeline company's stock valued at $388,000 after purchasing an additional 1,717 shares in the last quarter. Commerce Bank lifted its position in shares of Antero Midstream by 5.0% in the 1st quarter. Commerce Bank now owns 16,739 shares of the pipeline company's stock worth $301,000 after buying an additional 800 shares during the last quarter. Natixis Advisors LLC boosted its position in Antero Midstream by 39.4% during the 1st quarter. Natixis Advisors LLC now owns 153,910 shares of the pipeline company's stock valued at $2,770,000 after purchasing an additional 43,499 shares during the period. Finally, XTX Topco Ltd grew its position in Antero Midstream by 251.8% in the 1st quarter. XTX Topco Ltd now owns 135,174 shares of the pipeline company's stock worth $2,433,000 after purchasing an additional 96,754 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "underweight" rating and issued a $17.00 price target (up from $16.00) on shares of Antero Midstream in a research note on Tuesday, June 3rd. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Wells Fargo & Company increased their price target on Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st.

Insider Buying and Selling at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream 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 in the company, valued at $1,390,417.60. The trade was a 6.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

Antero Midstream Price Performance

Shares of NYSE AM opened at $18.49 on Wednesday. Antero Midstream Corporation has a twelve month low of $13.51 and a twelve month 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 firm has a 50-day moving average of $18.09 and a two-hundred day moving average of $17.41. The company has a market capitalization of $8.85 billion, a price-to-earnings ratio of 19.46 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 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The business's quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. Antero Midstream's dividend payout ratio (DPR) is currently 94.74%.

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.

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