Johnson Investment Counsel Inc. Invests $2.63 Million in Antero Midstream Corporation $AM

Johnson Investment Counsel Inc. purchased a new stake in shares of Antero Midstream Corporation (NYSE:AM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 138,700 shares of the pipeline company’s stock, valued at approximately $2,628,000.

Several other large investors have also recently bought and sold shares of the stock. Apollon Wealth Management LLC boosted its position in Antero Midstream by 12.7% during the second quarter. Apollon Wealth Management LLC now owns 30,506 shares of the pipeline company’s stock valued at $578,000 after purchasing an additional 3,434 shares during the last quarter. US Bancorp DE boosted its position in Antero Midstream by 1.6% during the second quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock valued at $722,000 after purchasing an additional 610 shares during the last quarter. Columbus Macro LLC boosted its position in Antero Midstream by 11.8% during the second quarter. Columbus Macro LLC now owns 554,835 shares of the pipeline company’s stock valued at $10,514,000 after purchasing an additional 58,641 shares during the last quarter. Maryland State Retirement & Pension System boosted its position in Antero Midstream by 6.1% during the second quarter. Maryland State Retirement & Pension System now owns 318,146 shares of the pipeline company’s stock valued at $6,029,000 after purchasing an additional 18,181 shares during the last quarter. Finally, WESPAC Advisors LLC acquired a new position in Antero Midstream during the second quarter valued at approximately $489,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 39,155 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the transaction, the insider owned 106,489 shares in the company, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.86% of the company’s stock.

Antero Midstream Price Performance

Shares of NYSE AM opened at $18.38 on Tuesday. The firm has a market cap of $8.79 billion, a P/E ratio of 19.34 and a beta of 0.85. 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 1-year low of $14.22 and a 1-year high of $19.82. The business’s 50 day moving average is $18.44 and its 200-day moving average is $18.01.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share 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 analyst estimates of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. Equities research analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a dividend of $0.225 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.9%. Antero Midstream’s dividend payout ratio (DPR) is 94.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AM shares. Wells Fargo & Company upped their price objective 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. Weiss Ratings restated a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on Antero Midstream from $15.50 to $17.50 and gave the company a “neutral” rating in a research note on Monday, August 18th. Morgan Stanley upped their price objective on Antero Midstream from $17.00 to $19.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Finally, Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average 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.