Connor Clark & Lunn Investment Management Ltd. Takes $46.01 Million Position in Antero Midstream Corporation $AM

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Antero Midstream Corporation (NYSE:AM) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,022,284 shares of the pipeline company’s stock, valued at approximately $46,007,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Antero Midstream during the 2nd quarter worth $869,045,000. Bank of New York Mellon Corp acquired a new stake in Antero Midstream in the 2nd quarter valued at about $157,371,000. Norges Bank acquired a new stake in Antero Midstream in the 4th quarter valued at about $66,998,000. Kayne Anderson Capital Advisors LP purchased a new position in Antero Midstream during the 2nd quarter valued at about $49,883,000. Finally, Orbis Allan Gray Ltd purchased a new position in Antero Midstream during the 4th quarter valued at about $25,084,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Stock Down 0.0%

Shares of NYSE AM opened at $22.14 on Tuesday. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The firm’s 50 day moving average price is $22.24 and its 200 day moving average price is $21.97. The firm has a market cap of $10.51 billion, a P/E ratio of 26.35 and a beta of 0.65. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. During the same period in the previous year, the firm posted $0.29 EPS. Antero Midstream’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Antero Midstream Corporation will post 1.09 earnings per share for the current year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Wednesday, July 29th. Antero Midstream’s dividend payout ratio is presently 107.14%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings lowered Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.50.

Insider Activity

In related news, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider directly owned 83,900 shares of the company’s stock, valued at approximately $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the completion of the sale, the director owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. The trade was a 6.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Antero Midstream Profile

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.