Antero Midstream Co. (NYSE:AM) Shares Bought by Texas Permanent School Fund Corp

Posted by on Jul 27th, 2023

Texas Permanent School Fund Corp boosted its stake in shares of Antero Midstream Co. (NYSE:AM – Free Report) by 32.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 292,458 shares of the pipeline company’s stock after purchasing an additional 71,867 shares during the period. Texas Permanent School Fund Corp owned approximately 0.06% of Antero Midstream worth $3,068,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AM. Norges Bank purchased a new position in Antero Midstream in the 4th quarter valued at about $37,729,000. BlackRock Inc. lifted its stake in Antero Midstream by 9.1% in the 1st quarter. BlackRock Inc. now owns 32,917,158 shares of the pipeline company’s stock valued at $357,809,000 after buying an additional 2,743,230 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Antero Midstream by 844.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,102,070 shares of the pipeline company’s stock valued at $22,681,000 after buying an additional 1,879,400 shares in the last quarter. First Trust Advisors LP lifted its stake in Antero Midstream by 51.3% in the 1st quarter. First Trust Advisors LP now owns 5,221,579 shares of the pipeline company’s stock valued at $56,759,000 after buying an additional 1,769,545 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in Antero Midstream by 1,686.9% in the 4th quarter. Voya Investment Management LLC now owns 773,492 shares of the pipeline company’s stock valued at $8,346,000 after buying an additional 730,206 shares in the last quarter. 51.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Antero Midstream from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, July 20th. Capital One Financial reissued an “equal weight” rating on shares of Antero Midstream in a research note on Thursday, April 20th. JPMorgan Chase & Co. decreased their target price on shares of Antero Midstream from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, July 21st. UBS Group assumed coverage on shares of Antero Midstream in a research note on Wednesday, May 10th. They issued a “buy” rating and a $14.00 target price on the stock. Finally, StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.25.

Insider Activity at Antero Midstream

In other Antero Midstream news, insider Sheri Pearce sold 19,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $10.25, for a total value of $200,900.00. Following the completion of the transaction, the insider now owns 155,267 shares of the company’s stock, valued at approximately $1,591,486.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Antero Midstream news, insider Michael N. Kennedy sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $10.47, for a total value of $3,141,000.00. Following the completion of the transaction, the insider now owns 1,060,730 shares of the company’s stock, valued at approximately $11,105,843.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sheri Pearce sold 19,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $10.25, for a total transaction of $200,900.00. Following the completion of the transaction, the insider now directly owns 155,267 shares of the company’s stock, valued at approximately $1,591,486.75. The disclosure for this sale can be found here. 0.52% of the stock is owned by insiders.

Antero Midstream Stock Up 0.2 %

Shares of NYSE AM opened at $11.75 on Thursday. The company has a 50 day simple moving average of $11.09 and a 200-day simple moving average of $10.76. The company has a market capitalization of $5.64 billion, a P/E ratio of 17.03 and a beta of 2.35. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.02 and a quick ratio of 1.02. Antero Midstream Co. has a 1 year low of $8.80 and a 1 year high of $12.13.

Antero Midstream (NYSE:AM – Get Free Report) last posted its earnings results on Wednesday, April 26th. The pipeline company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. Antero Midstream had a net margin of 34.62% and a return on equity of 17.56%. The firm had revenue of $259.48 million during the quarter, compared to the consensus estimate of $249.58 million. On average, equities research analysts predict that Antero Midstream Co. will post 0.81 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Tuesday, July 25th. This represents a $0.90 annualized dividend and a yield of 7.66%. Antero Midstream’s dividend payout ratio (DPR) is presently 130.43%.

About Antero Midstream

(Free Report)

Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure in the Appalachian Basin. 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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Institutional Ownership by Quarter for Antero Midstream (NYSE:AM)

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