Wellington Management Group LLP Grows Stock Holdings in Antero Midstream Corporation $AM

Wellington Management Group LLP grew its position in Antero Midstream Corporation (NYSE:AM) by 42.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 571,156 shares of the pipeline company’s stock after buying an additional 169,397 shares during the period. Wellington Management Group LLP owned 0.12% of Antero Midstream worth $12,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AM. BlackRock Inc. acquired a new stake in shares of Antero Midstream in the 2nd quarter worth $869,045,000. Invesco Ltd. grew its position in Antero Midstream by 3.4% during the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock worth $417,069,000 after purchasing an additional 776,791 shares during the last quarter. State Street Corp increased its stake 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 valued at $201,691,000 after purchasing an additional 187,912 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Antero Midstream by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock worth $186,328,000 after buying an additional 1,161,684 shares during the last quarter. Finally, Bank of New York Mellon Corp raised 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 worth $208,148,000 after buying an additional 920,948 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AM shares. The Goldman Sachs Group set a $24.00 price objective on shares of Antero Midstream in a report on Tuesday, July 14th. Wells Fargo & Company lifted their price target on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note 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 data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $24.50.

Insider Buying and Selling at Antero Midstream

In related news, insider Sheri Pearce sold 16,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the transaction, the insider directly owned 83,900 shares of the company’s stock, valued at approximately $1,846,639. This represents a 16.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brooks Klimley sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the completion of 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 disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Antero Midstream Stock Performance

NYSE:AM opened at $22.61 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $22.31 and a two-hundred day moving average of $22.13. The stock has a market capitalization of $10.73 billion, a PE ratio of 26.92 and a beta of 0.65. Antero Midstream Corporation has a fifty-two week low of $16.96 and a fifty-two week high of $23.83.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The business had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. Antero Midstream had a net margin of 32.41% and a return on equity of 20.19%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. As a group, research analysts forecast that Antero Midstream Corporation will post 1.09 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

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