Caisse de depot et placement du Quebec Makes New $1.61 Million Investment in Antero Midstream Corporation $AM

Caisse de depot et placement du Quebec acquired a new position in shares of Antero Midstream Corporation (NYSE:AM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 70,800 shares of the pipeline company’s stock, valued at approximately $1,611,000.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. bought a new position in Antero Midstream during the second quarter worth $869,045,000. Invesco Ltd. increased its stake 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 purchasing an additional 776,791 shares in the last quarter. State Street Corp increased its stake in Antero Midstream by 1.7% in the fourth 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 stake in Antero Midstream by 12.5% in the fourth 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. Finally, Bank of New York Mellon Corp raised its holdings in shares of Antero Midstream by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after purchasing an additional 920,948 shares during the period. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

AM stock opened at $22.32 on Friday. The company has a market capitalization of $10.59 billion, a P/E ratio of 26.57 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 Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The business has a 50-day simple moving average of $22.30 and a two-hundred day simple moving average of $22.05.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 EPS for the quarter, hitting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The firm had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. During the same period in the prior year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Research analysts expect that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.0%. Antero Midstream’s dividend payout ratio is 107.14%.

Insider Buying and Selling at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of the sale, the director directly owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This represents a 6.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction 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 transaction, the insider owned 83,900 shares in the company, valued at approximately $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

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

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.