Fifth Third Bancorp Has $1.95 Million Stock Position in Antero Midstream Corporation $AM

Fifth Third Bancorp boosted its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 2,428.5% in the 1st quarter, Holdings Channel reports. The firm owned 85,514 shares of the pipeline company’s stock after buying an additional 82,132 shares during the period. Fifth Third Bancorp’s holdings in Antero Midstream were worth $1,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AM. Larson Financial Group LLC raised its holdings in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock worth $31,000 after buying an additional 708 shares in the last quarter. Arax Advisory Partners boosted its stake in Antero Midstream by 83.9% in the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after buying an additional 791 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Antero Midstream by 219,900.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after buying an additional 2,199 shares in the last quarter. Root Financial Partners LLC boosted its stake in Antero Midstream by 36.4% in the first quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock valued at $46,000 after buying an additional 537 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Antero Midstream by 401.4% in the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after acquiring an additional 2,224 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AM shares. Weiss Ratings cut shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. 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 report on Wednesday, March 25th. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a research report on Tuesday, July 14th. Finally, 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. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Antero Midstream has an average rating of “Hold” and a consensus price target of $24.25.

Insider Activity at Antero Midstream

In other news, insider Michael N. Kennedy sold 100,000 shares of Antero Midstream stock in a transaction 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 in the company, valued at approximately $32,893,020.48. The trade was a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the business’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 sale, the insider directly owned 580,565 shares in the company, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Antero Midstream Stock Performance

Shares of AM stock opened at $22.86 on Thursday. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 26.58 and a beta of 0.64. 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 business’s 50-day moving average price is $22.03 and its 200-day moving average price is $21.34. Antero Midstream Corporation has a 12 month low of $16.77 and a 12 month high of $23.83.

Antero Midstream (NYSE:AM) last released its quarterly earnings data 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 firm had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.25 EPS. Equities research analysts forecast that Antero Midstream Corporation will post 1.1 EPS for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date is Wednesday, July 29th. Antero Midstream’s dividend payout ratio is 104.65%.

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.