State of Michigan Retirement System Raises Stake in Antero Midstream Co. (NYSE:AM)

State of Michigan Retirement System raised its position in shares of Antero Midstream Co. (NYSE:AMFree Report) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,625 shares of the pipeline company’s stock after purchasing an additional 1,900 shares during the quarter. State of Michigan Retirement System’s holdings in Antero Midstream were worth $1,176,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its holdings in Antero Midstream by 78.5% during the fourth quarter. Lindbrook Capital LLC now owns 2,089 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 919 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Antero Midstream by 360.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,240 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 1,753 shares in the last quarter. MCF Advisors LLC purchased a new position in shares of Antero Midstream in the first quarter worth $34,000. Parkside Financial Bank & Trust lifted its holdings in shares of Antero Midstream by 175.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,031 shares of the pipeline company’s stock worth $38,000 after buying an additional 1,930 shares in the last quarter. Finally, Pacifica Partners Inc. purchased a new position in shares of Antero Midstream in the first quarter worth $48,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Antero Midstream Price Performance

Antero Midstream stock opened at $14.76 on Friday. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 18.45 and a beta of 2.38. The firm’s fifty day moving average is $14.52 and its 200 day moving average is $13.56. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.48. Antero Midstream Co. has a 52-week low of $11.37 and a 52-week high of $15.10.

Antero Midstream (NYSE:AMGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The business had revenue of $279.05 million for the quarter, compared to analysts’ expectations of $277.25 million. Antero Midstream had a net margin of 36.67% and a return on equity of 20.82%. Antero Midstream’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.21 EPS. Sell-side analysts forecast that Antero Midstream Co. will post 0.87 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend was Tuesday, April 23rd. Antero Midstream’s dividend payout ratio (DPR) is 112.50%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AM. StockNews.com raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Thursday. Tudor, Pickering, Holt & Co. downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating and boosted their target price for the stock from $12.00 to $13.00 in a report on Tuesday, March 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Antero Midstream presently has an average rating of “Hold” and a consensus price target of $12.70.

View Our Latest Stock Analysis on Antero Midstream

Antero Midstream Profile

(Free Report)

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. 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.

Further Reading

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Institutional Ownership by Quarter for Antero Midstream (NYSE:AM)

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