Norges Bank Makes New Investment in Antero Midstream Corporation $AM

Norges Bank bought a new position in Antero Midstream Corporation (NYSE:AM) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,248,256 shares of the pipeline company’s stock, valued at approximately $80,504,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. LPL Financial LLC boosted its stake in Antero Midstream by 11.4% in the 1st quarter. LPL Financial LLC now owns 355,245 shares of the pipeline company’s stock valued at $6,394,000 after buying an additional 36,468 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of Antero Midstream by 39.4% during the first quarter. Natixis Advisors LLC now owns 153,910 shares of the pipeline company’s stock valued at $2,770,000 after acquiring an additional 43,499 shares during the period. Commerce Bank boosted its stake 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 valued at $301,000 after purchasing an additional 800 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings 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 worth $388,000 after purchasing an additional 1,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Antero Midstream by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,839,780 shares of the pipeline company’s stock worth $69,116,000 after purchasing an additional 11,465 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

Analyst Ratings Changes

AM has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted 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. Morgan Stanley lifted their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research report on Wednesday, November 12th. Wall Street Zen cut Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 19th. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a research report on Monday. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Antero Midstream presently has an average rating of “Hold” and an average target price of $18.83.

Antero Midstream Stock Up 0.7%

Shares of AM opened at $18.22 on Friday. The business’s fifty day moving average price is $18.13 and its two-hundred day moving average price is $18.17. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 18.59 and a beta of 0.82. Antero Midstream Corporation has a 52 week low of $14.22 and a 52 week high of $19.82. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The business had revenue of $294.82 million for the quarter, compared to analysts’ expectations of $287.30 million. Antero Midstream had a return on equity of 22.61% and a net margin of 40.07%.The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. On average, analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.9%. The ex-dividend date was Wednesday, October 22nd. Antero Midstream’s dividend payout ratio is currently 91.84%.

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.