UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stake in Antero Midstream Corporation $AM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Antero Midstream Corporation (NYSE:AM) by 7.5% during the second quarter, HoldingsChannel reports. The firm owned 798,718 shares of the pipeline company’s stock after selling 64,808 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Antero Midstream were worth $18,171,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Antero Midstream during the second quarter worth about $869,045,000. Invesco Ltd. raised its stake in Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock valued at $417,069,000 after acquiring an additional 776,791 shares during the last quarter. State Street Corp lifted its position in Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after acquiring an additional 187,912 shares during the period. Geode Capital Management LLC grew its stake in shares of Antero Midstream by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after purchasing an additional 1,161,684 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Antero Midstream by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after purchasing an additional 920,948 shares during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AM. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a report on Tuesday, July 14th. Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings downgraded shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $24.50.

Antero Midstream Price Performance

Shares of AM opened at $22.61 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 stock’s 50 day moving average is $22.31 and its two-hundred day moving average is $22.12. Antero Midstream Corporation has a twelve month low of $16.96 and a twelve month high of $23.83. The firm has a market capitalization of $10.73 billion, a PE ratio of 26.92 and a beta of 0.65.

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

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders 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 dividend on an annualized basis and a yield of 4.0%. Antero Midstream’s dividend payout ratio (DPR) is 107.14%.

Insiders Place Their Bets

In other Antero Midstream news, Director Brooks Klimley sold 5,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total transaction of $106,350.00. Following the sale, the director directly owned 68,204 shares in the company, valued at approximately $1,450,699.08. The trade was a 6.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sheri Pearce sold 16,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total transaction of $352,160.00. Following the transaction, the insider directly owned 83,900 shares in the company, valued at approximately $1,846,639. This trade represents a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.

About Antero Midstream

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.