California Public Employees Retirement System Has $15.93 Million Position in Antero Midstream Corporation $AM

California Public Employees Retirement System lifted its holdings in Antero Midstream Corporation (NYSE:AM) by 6.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 698,788 shares of the pipeline company’s stock after purchasing an additional 41,621 shares during the period. California Public Employees Retirement System owned 0.15% of Antero Midstream worth $15,932,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Invesco Ltd. grew its holdings in Antero Midstream by 3.4% in the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after buying an additional 776,791 shares during the last quarter. State Street Corp lifted its holdings in shares of Antero Midstream by 1.7% during the fourth quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after buying an additional 187,912 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Antero Midstream by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after acquiring an additional 1,161,684 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Antero Midstream by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after acquiring an additional 920,948 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after acquiring an additional 1,400,368 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Yvette K. Schultz sold 69,269 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the transaction, the insider owned 580,565 shares in the company, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the transaction, the insider owned 1,500,594 shares of the company’s stock, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.

Antero Midstream Trading Up 0.7%

Antero Midstream stock opened at $23.01 on Friday. The business has a 50 day moving average price of $22.05 and a two-hundred day moving average price of $21.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. The stock has a market cap of $10.93 billion, a price-to-earnings ratio of 26.76 and a beta of 0.64. Antero Midstream Corporation has a 12 month low of $16.77 and a 12 month high of $23.83.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The firm had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.Antero Midstream’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, equities analysts forecast that Antero Midstream Corporation will post 1.1 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is 104.65%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AM shares. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Antero Midstream presently has a consensus rating of “Hold” and an average price target of $24.25.

Antero Midstream Company 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.