Jennison Associates LLC Grows Stake in Antero Midstream Corporation $AM

Jennison Associates LLC lifted its stake in Antero Midstream Corporation (NYSE:AM) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,070,122 shares of the pipeline company’s stock after buying an additional 43,982 shares during the period. Jennison Associates LLC owned approximately 0.23% of Antero Midstream worth $24,399,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AM. Norges Bank purchased a new stake in shares of Antero Midstream during the 4th quarter valued at about $66,998,000. Orbis Allan Gray Ltd acquired a new stake in Antero Midstream in the fourth quarter valued at approximately $25,084,000. Goldman Sachs Group Inc. grew its position in 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 in the last quarter. SIR Capital Management L.P. raised its stake in shares of Antero Midstream by 1,086.9% during the third quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock valued at $26,892,000 after purchasing an additional 1,266,794 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Antero Midstream by 12.5% during 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 purchasing an additional 1,161,684 shares during the period. Institutional investors and hedge funds own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AM. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a report on Wednesday, April 22nd. Finally, UBS Group upped their price objective on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, March 25th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $24.25.

Antero Midstream Stock Performance

Antero Midstream stock opened at $22.58 on Tuesday. The stock has a market cap of $10.73 billion, a P/E ratio of 26.26 and a beta of 0.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average of $21.98 and a 200-day moving average of $21.27. Antero Midstream Corporation has a 52 week low of $16.77 and a 52 week high of $23.83.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). The company had revenue of $314.21 million for the quarter, compared to analyst estimates of $311.30 million. Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS. On average, analysts expect that Antero Midstream Corporation will post 1.1 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s dividend payout ratio (DPR) is currently 104.65%.

Insider Activity

In other news, insider Michael N. Kennedy sold 100,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the sale, the insider owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the stock in a transaction dated 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 transaction, the insider directly owned 580,565 shares in the company, valued at $12,714,373.50. The trade was a 10.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by insiders.

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.