Bank of New York Mellon Corp Raises Holdings in Antero Midstream Corporation $AM

Bank of New York Mellon Corp increased its position in shares of Antero Midstream Corporation (NYSE:AM) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,418,323 shares of the pipeline company’s stock after buying an additional 426,777 shares during the period. Bank of New York Mellon Corp’s holdings in Antero Midstream were worth $121,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AM. US Bancorp DE grew its stake in Antero Midstream by 1.6% in the second quarter. US Bancorp DE now owns 38,108 shares of the pipeline company’s stock valued at $722,000 after purchasing an additional 610 shares during the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Antero Midstream during the first quarter valued at about $306,000. Amundi boosted its holdings in shares of Antero Midstream by 3,121.9% in the 1st quarter. Amundi now owns 125,913 shares of the pipeline company’s stock valued at $2,263,000 after buying an additional 122,005 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Antero Midstream by 12.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 553,317 shares of the pipeline company’s stock valued at $9,960,000 after buying an additional 60,582 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Antero Midstream in the 1st quarter worth approximately $8,402,000. 53.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Antero Midstream Price Performance

Shares of AM opened at $17.70 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $18.35 and its 200-day moving average price is $18.13. Antero Midstream Corporation has a 1-year low of $14.22 and a 1-year high of $19.82. The firm has a market capitalization of $8.43 billion, a PE ratio of 18.06 and a beta of 0.88.

Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, October 29th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). The firm had revenue of $294.82 million during the quarter, compared to analysts’ expectations of $287.30 million. Antero Midstream had a return on equity of 22.53% and a net margin of 40.07%.The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business earned $0.21 EPS. On average, equities research analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current year.

Antero Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, October 22nd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.1%. Antero Midstream’s payout ratio is 91.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AM shares. Zacks Research cut shares of Antero Midstream from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 19th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Antero Midstream in a report on Wednesday, October 8th. Morgan Stanley boosted their target price on Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Wells Fargo & Company upped their target price on Antero Midstream from $17.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Finally, Wall Street Zen downgraded Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Antero Midstream presently has an average rating of “Hold” and an average price target of $18.50.

Antero Midstream Company 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.