Algert Global LLC Acquires 591,346 Shares of Antero Midstream Corporation $AM

Algert Global LLC boosted its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 105.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,153,609 shares of the pipeline company’s stock after buying an additional 591,346 shares during the quarter. Antero Midstream makes up about 0.4% of Algert Global LLC’s investment portfolio, making the stock its 27th largest holding. Algert Global LLC owned approximately 0.24% of Antero Midstream worth $22,426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Antero Midstream by 22.3% during the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after purchasing an additional 1,430,138 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Antero Midstream by 40.8% in the third quarter. Oppenheimer & Co. Inc. now owns 504,755 shares of the pipeline company’s stock worth $9,812,000 after buying an additional 146,300 shares in the last quarter. American Century Companies Inc. increased its position in Antero Midstream by 21.0% in the third quarter. American Century Companies Inc. now owns 3,081,943 shares of the pipeline company’s stock worth $59,913,000 after buying an additional 535,245 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Antero Midstream in the third quarter worth about $2,676,000. Finally, Franklin Resources Inc. lifted its position in shares of Antero Midstream by 54.3% during the 2nd quarter. Franklin Resources Inc. now owns 614,068 shares of the pipeline company’s stock valued at $11,637,000 after buying an additional 216,022 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Antero Midstream Price Performance

AM stock opened at $23.16 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41. The company’s fifty day moving average price is $20.10 and its 200-day moving average price is $18.83. Antero Midstream Corporation has a one year low of $15.07 and a one year high of $23.34. The company has a market capitalization of $10.96 billion, a PE ratio of 26.93 and a beta of 0.77.

Antero Midstream (NYSE:AM) last announced its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. Antero Midstream’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. On average, equities analysts anticipate that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, January 28th. Antero Midstream’s payout ratio is currently 104.65%.

Insider Activity at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director owned 69,680 shares in the company, valued at $1,613,788.80. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Yvette K. Schultz sold 25,000 shares of Antero Midstream stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $22.81, for a total value of $570,250.00. Following the completion of the sale, the insider directly owned 649,834 shares in the company, valued at approximately $14,822,713.54. The trade was a 3.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 49,000 shares of company stock valued at $1,092,640. Insiders own 0.86% of the company’s stock.

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.