Bank of New York Mellon Corp Boosts Stock Position in Antero Midstream Corporation $AM

Bank of New York Mellon Corp increased its holdings in Antero Midstream Corporation (NYSE:AM) by 7.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,418,323 shares of the pipeline company’s stock after purchasing an additional 426,777 shares during the period. Bank of New York Mellon Corp owned approximately 1.34% of Antero Midstream worth $121,627,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AM. Invesco Ltd. grew its stake in shares of Antero Midstream by 2.0% in the 1st quarter. Invesco Ltd. now owns 30,631,765 shares of the pipeline company’s stock worth $551,372,000 after buying an additional 586,966 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Antero Midstream by 31.7% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company’s stock valued at $167,614,000 after acquiring an additional 2,242,283 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Antero Midstream by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company’s stock worth $164,653,000 after acquiring an additional 34,596 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Antero Midstream by 17.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company’s stock worth $83,922,000 after acquiring an additional 697,234 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after acquiring an additional 1,400,368 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

AM opened at $17.70 on Friday. The business has a fifty day moving average of $18.35 and a 200 day moving average of $18.13. Antero Midstream Corporation has a 52-week low of $14.22 and a 52-week high of $19.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. The stock has a market cap of $8.43 billion, a P/E ratio of 18.06 and a beta of 0.88.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, October 29th. The pipeline company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Antero Midstream had a return on equity of 22.53% and a net margin of 40.07%.The business had revenue of $294.82 million during the quarter, compared to analysts’ expectations of $287.30 million. During the same quarter in the previous year, the business earned $0.21 EPS. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a yield of 5.1%. Antero Midstream’s dividend payout ratio (DPR) is presently 91.84%.

Insider Transactions at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total value of $685,604.05. Following the transaction, the insider directly owned 106,489 shares in the company, valued at $1,864,622.39. This represents a 26.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, October 8th. Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Morgan Stanley lifted their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group increased their target price on shares of Antero Midstream from $15.50 to $17.50 and gave the company a “neutral” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.