BROOKFIELD Corp ON Sells 240,493 Shares of Antero Midstream Corporation $AM

BROOKFIELD Corp ON decreased its position in Antero Midstream Corporation (NYSE:AMFree Report) by 11.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,935,500 shares of the pipeline company’s stock after selling 240,493 shares during the quarter. BROOKFIELD Corp ON owned 0.41% of Antero Midstream worth $44,129,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in shares of Antero Midstream by 3.4% in the fourth quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after buying an additional 776,791 shares during the last quarter. State Street Corp grew its holdings in Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after acquiring an additional 187,912 shares during the last quarter. Geode Capital Management LLC increased its position in Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after acquiring an additional 1,161,684 shares in the last quarter. Bank of New York Mellon Corp increased its position in Antero Midstream by 11.2% in the 1st quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after acquiring an additional 920,948 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Antero Midstream by 56.6% in 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. 53.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AM shares. Weiss Ratings cut Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a research note on Tuesday, July 14th. Finally, Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Antero Midstream presently has an average rating of “Hold” and a consensus price target of $24.25.

Read Our Latest Stock Report on Antero Midstream

Insider Activity

In other news, insider Yvette K. Schultz sold 69,269 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the sale, the insider directly owned 580,565 shares of the company’s stock, valued at $12,714,373.50. This represents a 10.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the transaction, the insider owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Antero Midstream Price Performance

AM opened at $22.75 on Monday. The company has a fifty day moving average price of $22.07 and a two-hundred day moving average price of $21.41. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83. The firm has a market capitalization of $10.80 billion, a PE ratio of 26.45 and a beta of 0.64.

Antero Midstream (NYSE:AMGet Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The company had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. During the same period last year, the company earned $0.25 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, analysts anticipate that Antero Midstream Corporation will post 1.1 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.0%. Antero Midstream’s dividend payout ratio is presently 104.65%.

Antero Midstream Company Profile

(Free Report)

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

See Also

Institutional Ownership by Quarter for Antero Midstream (NYSE:AM)

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