BROOKFIELD Corp ON Sells 240,493 Shares of Antero Midstream Corporation $AM

BROOKFIELD Corp ON lowered its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 11.1% during the first quarter, HoldingsChannel reports. The firm owned 1,935,500 shares of the pipeline company’s stock after selling 240,493 shares during the quarter. BROOKFIELD Corp ON’s holdings in Antero Midstream were worth $44,129,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AM. Lazard Asset Management LLC grew its position in shares of Antero Midstream by 5.0% in the 1st quarter. Lazard Asset Management LLC now owns 169,025 shares of the pipeline company’s stock valued at $3,854,000 after purchasing an additional 7,977 shares during the period. Gateway Wealth Partners LLC acquired a new stake in Antero Midstream during the 1st quarter worth approximately $650,000. Lombard Odier Asset Management USA Corp bought a new position in Antero Midstream in the first quarter valued at approximately $308,000. Waverly Advisors LLC increased its position in shares of Antero Midstream by 3.9% during the first quarter. Waverly Advisors LLC now owns 457,330 shares of the pipeline company’s stock worth $10,427,000 after acquiring an additional 17,051 shares in the last quarter. Finally, GC Wealth Management RIA LLC acquired a new stake in shares of Antero Midstream during the first quarter worth $215,000. Institutional investors own 53.97% of the company’s stock.

Antero Midstream Trading Down 0.0%

Antero Midstream stock opened at $22.75 on Monday. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 26.45 and a beta of 0.64. The firm has a 50-day moving average of $22.07 and a 200-day moving average of $21.41. 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 Corporation has a one year low of $16.77 and a one year high of $23.83.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The company had revenue of $314.21 million during the quarter, compared to analyst estimates of $311.30 million. During the same period in the prior year, the firm posted $0.25 EPS. Antero Midstream’s revenue was up 7.9% compared to the same quarter last year. On average, equities analysts expect that Antero Midstream Corporation will post 1.1 earnings per share for the current fiscal 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 paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. Antero Midstream’s dividend payout ratio (DPR) is currently 104.65%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in 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 for the company in a research note on Wednesday, April 22nd. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered 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 assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.25.

Insiders Place Their Bets

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the company’s 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 sale, the insider directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 on Monday, May 4th. The shares were 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 position. The SEC filing for this sale provides additional information. 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.