Johnson Investment Counsel Inc. Makes New $2.63 Million Investment in Antero Midstream Corporation $AM

Johnson Investment Counsel Inc. acquired a new position in shares of Antero Midstream Corporation (NYSE:AM) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 138,700 shares of the pipeline company’s stock, valued at approximately $2,628,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Invesco Ltd. increased its stake in Antero Midstream by 2.0% during the 1st quarter. Invesco Ltd. now owns 30,631,765 shares of the pipeline company’s stock worth $551,372,000 after acquiring an additional 586,966 shares during the period. Tortoise Capital Advisors L.L.C. boosted its holdings in shares of Antero Midstream by 31.7% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company’s stock valued at $167,614,000 after purchasing an additional 2,242,283 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Antero Midstream by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,147,525 shares of the pipeline company’s stock valued at $164,653,000 after purchasing an additional 34,596 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Antero Midstream by 5.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,991,546 shares of the pipeline company’s stock valued at $107,848,000 after purchasing an additional 295,432 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Antero Midstream by 17.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,662,358 shares of the pipeline company’s stock valued at $83,922,000 after purchasing an additional 697,234 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AM. Wall Street Zen raised Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Morgan Stanley raised their target price on Antero Midstream from $17.00 to $19.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. The Goldman Sachs Group raised their target price on Antero Midstream from $15.50 to $17.50 and gave the company a “neutral” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Antero Midstream in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.50.

Antero Midstream Trading Down 0.2%

NYSE AM opened at $18.38 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a twelve month low of $14.22 and a twelve month high of $19.82. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 19.34 and a beta of 0.85. The business’s fifty day moving average is $18.44 and its 200 day moving average is $18.01.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $305.47 million for the quarter, compared to the consensus estimate of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.Antero Midstream’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. As a group, sell-side analysts expect that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, October 22nd. Antero Midstream’s dividend payout ratio (DPR) is currently 94.74%.

Insider Transactions at Antero Midstream

In related news, insider Sheri Pearce sold 39,155 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares of the company’s stock, valued at $1,864,622.39. This trade represents a 26.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Antero Midstream Profile

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.