BI Asset Management Fondsmaeglerselskab A S Takes Position in Antero Midstream Corporation $AM

BI Asset Management Fondsmaeglerselskab A S bought a new position in Antero Midstream Corporation (NYSE:AM) in the third quarter, HoldingsChannel.com reports. The fund bought 137,678 shares of the pipeline company’s stock, valued at approximately $2,676,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp grew its position in Antero Midstream by 22.3% in the third quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after acquiring an additional 1,430,138 shares during the period. Norges Bank acquired a new stake in shares of Antero Midstream in the 2nd quarter valued at $80,504,000. Goldman Sachs Group Inc. grew its holdings in shares of Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after purchasing an additional 1,400,368 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Antero Midstream by 5.5% during the 3rd quarter. Boston Trust Walden Corp now owns 3,738,016 shares of the pipeline company’s stock worth $72,667,000 after purchasing an additional 194,480 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Antero Midstream by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 2,546,698 shares of the pipeline company’s stock valued at $48,260,000 after purchasing an additional 361,272 shares during the last quarter. Institutional investors own 53.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AM. Wells Fargo & Company upped their price objective on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 23rd. Morgan Stanley increased their price target on Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 12th. Zacks Research cut Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a research note on Monday, December 29th. Finally, Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.17.

Insider Buying and Selling at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $17.59, for a total value of $87,950.00. Following the transaction, the director directly owned 72,622 shares in the company, valued at $1,277,420.98. This represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.86% of the stock is currently owned by company insiders.

Antero Midstream Price Performance

Antero Midstream stock opened at $19.18 on Friday. The business’s 50-day simple moving average is $18.10 and its 200 day simple moving average is $18.11. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.46. The stock has a market cap of $9.13 billion, a price-to-earnings ratio of 19.57 and a beta of 0.81. Antero Midstream Corporation has a 12-month low of $15.07 and a 12-month high of $19.82.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, January 28th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, January 28th. This represents a $0.90 annualized dividend and a dividend yield of 4.7%. Antero Midstream’s payout ratio is currently 91.84%.

Antero Midstream 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.