Dimensional Fund Advisors LP increased its holdings in Antero Midstream Co. (NYSE:AM – Get Rating) by 15.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,634,704 shares of the pipeline company's stock after acquiring an additional 1,399,840 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.22% of Antero Midstream worth $115,603,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. JGP Wealth Management LLC increased its stake in Antero Midstream by 3.4% in the 1st quarter. JGP Wealth Management LLC now owns 35,609 shares of the pipeline company's stock valued at $388,000 after buying an additional 1,177 shares during the period. Rational Advisors LLC increased its stake in Antero Midstream by 62.0% in the 1st quarter. Rational Advisors LLC now owns 3,806 shares of the pipeline company's stock valued at $41,000 after buying an additional 1,456 shares during the period. Louisiana State Employees Retirement System increased its stake in Antero Midstream by 1.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 85,000 shares of the pipeline company's stock valued at $973,000 after buying an additional 1,500 shares during the period. M&T Bank Corp increased its stake in Antero Midstream by 9.7% in the 1st quarter. M&T Bank Corp now owns 17,683 shares of the pipeline company's stock valued at $193,000 after buying an additional 1,557 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Antero Midstream by 1.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 123,149 shares of the pipeline company's stock valued at $1,339,000 after buying an additional 1,950 shares during the period. 53.92% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on AM shares. Wells Fargo & Company raised shares of Antero Midstream from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $12.00 to $13.00 in a research note on Thursday, April 28th. Barclays decreased their target price on shares of Antero Midstream from $10.00 to $9.00 and set an "underweight" rating on the stock in a research report on Wednesday, July 20th. Finally, TheStreet lowered shares of Antero Midstream from a "b-" rating to a "c" rating in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Antero Midstream has an average rating of "Hold" and an average target price of $11.00.
Antero Midstream Price Performance
Shares of Antero Midstream stock traded down $0.19 on Thursday, hitting $9.83. The company's stock had a trading volume of 91,903 shares, compared to its average volume of 3,863,228. Antero Midstream Co. has a 52-week low of $8.42 and a 52-week high of $11.71. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.42. The firm has a fifty day moving average price of $9.87 and a 200-day moving average price of $10.16. The company has a market capitalization of $4.70 billion, a P/E ratio of 14.52 and a beta of 2.60.
Antero Midstream (NYSE:AM – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The pipeline company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). Antero Midstream had a return on equity of 17.01% and a net margin of 36.84%. The business had revenue of $228.91 million during the quarter, compared to analysts' expectations of $238.28 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Antero Midstream's quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Antero Midstream Co. will post 0.79 earnings per share for the current fiscal year.
Antero Midstream Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Wednesday, July 27th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 9.16%. The ex-dividend date of this dividend is Tuesday, July 26th. Antero Midstream's payout ratio is 130.44%.
Insider Activity at Antero Midstream
In other news, Director David H. Keyte bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, May 12th. The stock was purchased at an average price of $9.80 per share, with a total value of $98,000.00. Following the purchase, the director now owns 59,587 shares of the company's stock, valued at approximately $583,952.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director W Howard Keenan, Jr. sold 68,502 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $10.19, for a total transaction of $698,035.38. Following the completion of the transaction, the director now directly owns 311,778 shares in the company, valued at approximately $3,177,017.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David H. Keyte acquired 10,000 shares of Antero Midstream stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average price of $9.80 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 59,587 shares of the company's stock, valued at $583,952.60. The disclosure for this purchase can be found here. In the last quarter, insiders sold 865,620 shares of company stock valued at $8,963,071. 0.80% of the stock is owned by insiders.
Antero Midstream Company Profile
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Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. It operates through Gathering and Processing, and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.
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