Bank of New York Mellon Corp Raises Holdings in Antero Midstream Corporation $AM

Bank of New York Mellon Corp lifted its position in Antero Midstream Corporation (NYSE:AM) by 22.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,848,461 shares of the pipeline company’s stock after purchasing an additional 1,430,138 shares during the quarter. Bank of New York Mellon Corp owned about 1.65% of Antero Midstream worth $152,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its position in shares of Antero Midstream by 1.6% during the 2nd 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. Franklin Resources Inc. boosted its stake in Antero Midstream by 54.3% during the second quarter. Franklin Resources Inc. now owns 614,068 shares of the pipeline company’s stock worth $11,637,000 after buying an additional 216,022 shares during the period. Boston Trust Walden Corp increased its position in Antero Midstream by 5.5% during the third quarter. Boston Trust Walden Corp now owns 3,738,016 shares of the pipeline company’s stock valued at $72,667,000 after acquiring an additional 194,480 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Antero Midstream by 6.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,062,611 shares of the pipeline company’s stock valued at $20,657,000 after acquiring an additional 60,628 shares during the last quarter. Finally, Bayforest Capital Ltd raised its stake in shares of Antero Midstream by 479.9% in the third quarter. Bayforest Capital Ltd now owns 37,938 shares of the pipeline company’s stock valued at $738,000 after acquiring an additional 31,396 shares during the period. 53.97% of the stock is owned by institutional investors.

Antero Midstream Stock Up 0.5%

Shares of NYSE:AM opened at $18.82 on Friday. The business’s 50 day moving average is $18.00 and its 200 day moving average is $18.06. The stock has a market cap of $8.96 billion, a P/E ratio of 19.20 and a beta of 0.80. Antero Midstream Corporation has a 52-week low of $15.07 and a 52-week high of $19.82. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.46.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. Antero Midstream had a return on equity of 22.61% 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 period in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Sell-side analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 4.8%. Antero Midstream’s payout ratio is currently 91.84%.

Wall Street Analyst Weigh In

AM has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. Zacks Research raised Antero Midstream from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 2nd. Wells Fargo & Company boosted their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, December 23rd. Finally, Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and an average price target of $19.17.

Insider Buying and Selling at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total transaction of $87,950.00. Following the transaction, the director directly owned 72,622 shares in the company, valued at approximately $1,277,420.98. This trade represents a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company’s stock.

About Antero Midstream

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.