PNC Financial Services Group Inc. Boosts Holdings in Antero Midstream Corporation (NYSE:AM)

PNC Financial Services Group Inc. boosted its position in Antero Midstream Corporation (NYSE:AM) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,573 shares of the pipeline company’s stock after acquiring an additional 1,717 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Antero Midstream were worth $388,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AM. Envestnet Asset Management Inc. raised its holdings in Antero Midstream by 0.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 492,735 shares of the pipeline company’s stock valued at $7,435,000 after acquiring an additional 2,649 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Antero Midstream by 11.1% in the fourth quarter. Russell Investments Group Ltd. now owns 23,184 shares of the pipeline company’s stock valued at $350,000 after acquiring an additional 2,309 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Antero Midstream in the fourth quarter valued at approximately $5,722,000. Treasurer of the State of North Carolina raised its holdings in Antero Midstream by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 149,041 shares of the pipeline company’s stock valued at $2,249,000 after acquiring an additional 940 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Antero Midstream by 13.9% in the fourth quarter. Sterling Capital Management LLC now owns 35,431 shares of the pipeline company’s stock valued at $535,000 after acquiring an additional 4,313 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Morgan Stanley raised their price objective 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, Wells Fargo & Company raised their price objective 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.

Insider Activity at Antero Midstream

In other news, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the transaction, the director directly owned 73,645 shares of the company’s stock, valued at $1,390,417.60. The trade was a 6.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.86% of the stock is owned by insiders.

Antero Midstream Stock Up 0.0%

AM stock opened at $18.21 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a twelve month low of $14.06 and a twelve month high of $19.08. The company’s 50 day moving average is $18.04 and its two-hundred day moving average is $17.50. The stock has a market cap of $8.71 billion, a P/E ratio of 19.16 and a beta of 0.97.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $305.47 million for 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 quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. Research analysts expect that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

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

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.