CIBC Bancorp USA Inc. Purchases New Stake in Antero Midstream Corporation $AM

CIBC Bancorp USA Inc. acquired a new position in Antero Midstream Corporation (NYSE:AM) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 701,756 shares of the pipeline company’s stock, valued at approximately $13,642,000. CIBC Bancorp USA Inc. owned 0.15% of Antero Midstream at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in shares of Antero Midstream by 0.8% during the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock worth $3,256,000 after purchasing an additional 1,371 shares during the period. AQR Capital Management LLC grew its position in shares of Antero Midstream by 174.9% during the 1st quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock valued at $1,508,000 after buying an additional 53,281 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after buying an additional 1,400,368 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Antero Midstream by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock worth $17,029,000 after acquiring an additional 43,335 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Antero Midstream by 7.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,188 shares of the pipeline company’s stock worth $1,633,000 after acquiring an additional 6,104 shares during the period. Institutional investors own 53.97% of the company’s stock.

Insider Transactions at Antero Midstream

In other news, insider Yvette K. Schultz sold 25,000 shares of the firm’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $22.81, for a total transaction of $570,250.00. Following the transaction, the insider directly owned 649,834 shares of the company’s stock, valued at approximately $14,822,713.54. This trade represents a 3.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $23.16, for a total transaction of $115,800.00. Following the completion of the sale, the director directly owned 69,680 shares of the company’s stock, valued at $1,613,788.80. The trade was a 6.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 44,000 shares of company stock valued at $1,004,690. 0.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings upgraded Antero Midstream from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 6th. Wells Fargo & Company increased their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, March 13th. The Goldman Sachs Group raised their price target on Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Finally, Zacks Research lowered Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Antero Midstream currently has a consensus rating of “Hold” and an average target price of $22.00.

Antero Midstream Trading Up 1.4%

Shares of NYSE:AM opened at $23.07 on Friday. The company has a quick ratio of 3.41, a current ratio of 3.41 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $20.54 and its 200 day moving average price is $18.96. The company has a market cap of $10.91 billion, a PE ratio of 26.82 and a beta of 0.77. Antero Midstream Corporation has a fifty-two week low of $15.07 and a fifty-two week high of $23.35.

Antero Midstream (NYSE:AM) last posted its earnings results on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The firm had revenue of $297.00 million during the quarter, compared to analysts’ expectations of $292.46 million. During the same quarter in the prior year, the firm earned $0.23 EPS. Antero Midstream’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th were paid a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 3.9%. Antero Midstream’s dividend payout ratio is presently 104.65%.

Antero Midstream Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company’s core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.