Virtus Advisers LLC Takes $649,000 Position in Antero Midstream Corporation $AM

Virtus Advisers LLC bought a new position in shares of Antero Midstream Corporation (NYSE:AM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 28,528 shares of the pipeline company’s stock, valued at approximately $649,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in Antero Midstream in the second quarter worth about $869,045,000. Bank of New York Mellon Corp acquired a new position in Antero Midstream during the 2nd quarter valued at about $157,371,000. Norges Bank acquired a new position in Antero Midstream during the 4th quarter valued at about $66,998,000. Orbis Allan Gray Ltd bought a new position in shares of Antero Midstream in the 4th quarter valued at about $25,084,000. Finally, Goldman Sachs Group Inc. boosted its stake 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 valued at $69,739,000 after purchasing an additional 1,400,368 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analyst Ratings Changes

AM has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $24.50.

Insider Transactions at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the transaction, the director owned 68,204 shares in the company, valued at $1,450,699.08. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of Antero Midstream stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the transaction, the insider owned 83,900 shares in the company, valued at $1,846,639. This trade represents a 16.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by insiders.

Antero Midstream Price Performance

Antero Midstream stock opened at $22.28 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $10.58 billion, a P/E ratio of 26.52 and a beta of 0.65. The business has a 50-day moving average of $22.21 and a 200-day moving average of $21.92. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.27. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The firm had revenue of $327.24 million during the quarter, compared to analysts’ expectations of $326.43 million. During the same quarter in the previous year, the company earned $0.29 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Antero Midstream Corporation will post 1.09 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th were issued a $0.225 dividend. The ex-dividend date of this dividend was Wednesday, July 29th. This represents a $0.90 annualized dividend and a dividend yield of 4.0%. Antero Midstream’s payout ratio is 107.14%.

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.