New York State Teachers Retirement System Lowers Position in Antero Midstream Corporation $AM

New York State Teachers Retirement System lessened its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 9.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 340,683 shares of the pipeline company’s stock after selling 35,564 shares during the quarter. New York State Teachers Retirement System’s holdings in Antero Midstream were worth $7,768,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AM. Keybank National Association OH raised its stake in Antero Midstream by 7.0% in the first quarter. Keybank National Association OH now owns 11,079 shares of the pipeline company’s stock valued at $253,000 after purchasing an additional 729 shares in the last quarter. Root Financial Partners LLC grew its stake in Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after buying an additional 537 shares in the last quarter. Comprehensive Money Management Services LLC grew its stake in Antero Midstream by 8.2% in the 1st quarter. Comprehensive Money Management Services LLC now owns 14,545 shares of the pipeline company’s stock worth $332,000 after buying an additional 1,100 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Antero Midstream by 39.0% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 161,205 shares of the pipeline company’s stock worth $3,675,000 after buying an additional 45,228 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Antero Midstream by 6.5% in the 1st quarter. Pictet Asset Management Holding SA now owns 56,140 shares of the pipeline company’s stock worth $1,280,000 after buying an additional 3,415 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 25th. Wells Fargo & Company increased their target price on Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, March 13th. Morgan Stanley upgraded Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. Finally, UBS Group lifted their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.00.

Antero Midstream Trading Up 2.7%

NYSE AM traded up $0.59 during trading on Tuesday, hitting $22.67. 104,102 shares of the company’s stock traded hands, compared to its average volume of 2,710,078. The stock has a fifty day moving average of $21.76 and a two-hundred day moving average of $20.93. Antero Midstream Corporation has a 12-month low of $16.77 and a 12-month high of $23.83. The firm has a market cap of $10.77 billion, a P/E ratio of 26.33 and a beta of 0.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Antero Midstream Corporation will post 1.11 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, April 29th. Antero Midstream’s payout ratio is 104.65%.

Insider Activity at Antero Midstream

In other news, insider Yvette K. Schultz sold 69,269 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total transaction of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares of the company’s stock, valued at approximately $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was 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 in the company, valued at $32,893,020.48. This represents a 6.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

About Antero Midstream

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.