Hsbc Holdings PLC Boosts Stake in Antero Midstream Corporation $AM

Hsbc Holdings PLC increased its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 291.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,600 shares of the pipeline company’s stock after acquiring an additional 44,356 shares during the period. Hsbc Holdings PLC’s holdings in Antero Midstream were worth $1,061,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in 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 acquiring an additional 776,791 shares during the period. State Street Corp increased its holdings in shares of Antero Midstream by 1.7% in the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock valued at $201,691,000 after purchasing an additional 187,912 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 1,161,684 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Antero Midstream by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,208,340 shares of the pipeline company’s stock valued at $146,026,000 after purchasing an additional 359,879 shares during the period. Finally, Goldman Sachs Group Inc. lifted 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 valued at $69,739,000 after purchasing an additional 1,400,368 shares during the period. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AM shares. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a research report on Wednesday, April 22nd. UBS Group lifted their price target on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. Finally, Weiss Ratings lowered Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and an average target price of $24.00.

Antero Midstream Stock Performance

NYSE:AM opened at $22.48 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $10.68 billion, a P/E ratio of 26.14 and a beta of 0.64. The firm has a 50-day moving average price of $21.84 and a two-hundred day moving average price of $21.10. Antero Midstream Corporation has a twelve month low of $16.77 and a twelve month high of $23.83.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). The business had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. As a group, research analysts expect that Antero Midstream Corporation will post 1.11 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s dividend payout ratio is 104.65%.

Insiders Place Their Bets

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

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.