Connor Clark & Lunn Investment Management Ltd. Has $6.79 Million Stock Position in Antero Midstream Corporation (NYSE:AM)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in Antero Midstream Corporation (NYSE:AM) by 56.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 377,371 shares of the pipeline company’s stock after buying an additional 136,448 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Antero Midstream worth $6,793,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AM. Boston Trust Walden Corp bought a new stake in Antero Midstream in the 1st quarter valued at about $51,269,000. SIR Capital Management L.P. bought a new stake in shares of Antero Midstream during the 4th quarter worth approximately $35,058,000. Balyasny Asset Management L.P. lifted its holdings in shares of Antero Midstream by 7,769.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,028,014 shares of the pipeline company’s stock worth $15,513,000 after acquiring an additional 1,014,951 shares during the period. Northern Trust Corp lifted its holdings in shares of Antero Midstream by 22.5% during the 4th quarter. Northern Trust Corp now owns 4,105,379 shares of the pipeline company’s stock worth $61,950,000 after acquiring an additional 753,939 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Antero Midstream by 32.7% during the 4th quarter. Barclays PLC now owns 1,770,853 shares of the pipeline company’s stock worth $26,722,000 after acquiring an additional 436,091 shares during the period. Institutional investors own 53.97% of the company’s stock.

Insider Activity

In other news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total transaction of $94,400.00. Following the completion of the transaction, the director owned 73,645 shares of the company’s stock, valued at approximately $1,390,417.60. This trade represents a 6.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.

Antero Midstream Price Performance

Shares of NYSE:AM opened at $18.46 on Tuesday. The company has a market cap of $8.84 billion, a price-to-earnings ratio of 19.44 and a beta of 0.97. 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 firm has a 50 day simple moving average of $18.06 and a 200 day simple moving average of $17.47. Antero Midstream Corporation has a one year low of $13.77 and a one year high of $19.08.

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

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. Antero Midstream’s dividend payout ratio (DPR) is presently 94.74%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AM. Wells Fargo & Company upped their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 1st. Morgan Stanley upped their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd.

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.