Texas Permanent School Fund Corp grew its holdings in shares of Antero Midstream Co. (NYSE:AM – Free Report) by 32.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in AM. Covestor Ltd boosted its holdings in shares of Antero Midstream by 2,155.9% in the first quarter. Covestor Ltd now owns 2,301 shares of the pipeline company’s stock worth $25,000 after buying an additional 2,199 shares during the period. Machina Capital S.A.S. acquired a new position in shares of Antero Midstream in the first quarter worth about $27,000. TCI Wealth Advisors Inc. boosted its holdings in shares of Antero Midstream by 257.5% in the fourth quarter. TCI Wealth Advisors Inc. now owns 2,849 shares of the pipeline company’s stock worth $31,000 after buying an additional 2,052 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Antero Midstream by 666.7% in the fourth quarter. Parallel Advisors LLC now owns 5,160 shares of the pipeline company’s stock worth $56,000 after buying an additional 4,487 shares during the period. Finally, Signaturefd LLC acquired a new stake in shares of Antero Midstream during the fourth quarter worth approximately $59,000. Institutional investors own 51.00% of the company’s stock.
Insider Activity
In other news, insider Michael N. Kennedy sold 300,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 1,060,730 shares in the company, valued at approximately $11,105,843.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Sheri Pearce sold 19,600 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $10.25, for a total value of $200,900.00. Following the completion of the sale, the insider now directly owns 155,267 shares of the company’s stock, valued at approximately $1,591,486.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael N. Kennedy sold 300,000 shares of the business’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 $11,105,843.10. The disclosure for this sale can be found here. 0.52% of the stock is owned by corporate insiders.
Antero Midstream Trading Up 0.2 %
Antero Midstream (NYSE:AM – Get Free Report) last posted its quarterly earnings results on Wednesday, April 26th. The pipeline company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $249.58 million. As a group, sell-side analysts expect that Antero Midstream Co. will post 0.81 EPS for the current year.
Antero Midstream Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Tuesday, July 25th. This represents a $0.90 annualized dividend and a dividend yield of 7.66%. Antero Midstream’s dividend payout ratio is presently 130.43%.
Wall Street Analyst Weigh In
AM has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Antero Midstream from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Friday, July 21st. Morgan Stanley raised their price target on shares of Antero Midstream from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, July 20th. Capital One Financial restated an “equal weight” rating on shares of Antero Midstream in a report on Thursday, April 20th. UBS Group initiated coverage on shares of Antero Midstream in a report on Wednesday, May 10th. They set a “buy” rating and a $14.00 price target for the company. Finally, StockNews.com lowered shares of Antero Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.25.
Antero Midstream Profile
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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