Victory Capital Management Inc. Trims Stock Holdings in Antero Midstream Corporation (NYSE:AM)

Victory Capital Management Inc. lessened its stake in Antero Midstream Corporation (NYSE:AM) by 42.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,814 shares of the pipeline company’s stock after selling 83,070 shares during the period. Victory Capital Management Inc.’s holdings in Antero Midstream were worth $2,031,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AM. LPL Financial LLC lifted its holdings in Antero Midstream by 1.5% in the fourth quarter. LPL Financial LLC now owns 318,777 shares of the pipeline company’s stock worth $4,810,000 after acquiring an additional 4,710 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Antero Midstream by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 35,868,153 shares of the pipeline company’s stock worth $541,250,000 after purchasing an additional 96,788 shares in the last quarter. Elo Mutual Pension Insurance Co acquired a new position in shares of Antero Midstream during the fourth quarter valued at approximately $220,000. Norges Bank acquired a new position in Antero Midstream during the fourth quarter worth about $62,578,000. Finally, New Age Alpha Advisors LLC bought a new position in shares of Antero Midstream in the fourth quarter valued at $431,000. Institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $18.88, for a total value of $94,400.00. Following the sale, the director directly owned 73,645 shares in the company, valued at $1,390,417.60. This represents a 6.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AM shares. Morgan Stanley restated an “underweight” rating and set a $17.00 price target (up previously from $16.00) on shares of Antero Midstream in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Antero Midstream from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd.

Antero Midstream Stock Down 1.2%

AM opened at $16.87 on Tuesday. Antero Midstream Corporation has a twelve month low of $13.12 and a twelve month high of $19.08. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.42 and a current ratio of 1.42. The business has a 50 day moving average price of $18.17 and a 200 day moving average price of $17.34. The firm has a market cap of $8.08 billion, a P/E ratio of 19.39 and a beta of 1.01.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Wednesday, April 30th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $291.13 million for the quarter, compared to the consensus estimate of $277.79 million. Antero Midstream had a net margin of 37.35% and a return on equity of 19.75%. Antero Midstream’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.21 earnings per share. Research analysts forecast that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $0.225 dividend. The ex-dividend date is Wednesday, July 23rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.33%. Antero Midstream’s payout ratio is 103.45%.

About Antero Midstream

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.