Norges Bank Purchases Shares of 3,766,025 Antero Midstream Corporation $AM

Norges Bank purchased a new stake in shares of Antero Midstream Corporation (NYSE:AM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,766,025 shares of the pipeline company’s stock, valued at approximately $66,998,000.

Other large investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC purchased a new position in Antero Midstream during the fourth quarter valued at approximately $27,000. Larson Financial Group LLC lifted its holdings in Antero Midstream by 68.1% during the fourth quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 708 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Antero Midstream by 219,900.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after purchasing an additional 2,199 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Antero Midstream by 138.1% during the third quarter. Hantz Financial Services Inc. now owns 2,688 shares of the pipeline company’s stock valued at $52,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Antero Midstream by 401.4% during the second quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after purchasing an additional 2,224 shares in the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.

Insider Buying and Selling at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $23.16, for a total value of $115,800.00. Following the sale, the director owned 69,680 shares in the company, valued at approximately $1,613,788.80. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the sale, the insider owned 1,500,594 shares in the company, valued at $32,893,020.48. This represents a 6.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 213,269 shares of company stock worth $4,713,681. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on AM shares. The Goldman Sachs Group lifted their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. UBS Group lifted their price target on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Wednesday, March 25th. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price on the stock in a report on Wednesday, April 22nd. Weiss Ratings reissued a “buy (a-)” rating on shares of Antero Midstream in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.00.

Antero Midstream Price Performance

AM stock opened at $21.54 on Friday. Antero Midstream Corporation has a one year low of $16.77 and a one year high of $23.83. The company’s fifty day moving average price is $21.80 and its 200-day moving average price is $20.32. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $10.23 billion, a PE ratio of 25.04 and a beta of 0.66.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The company had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. During the same period last year, the firm posted $0.25 EPS. Antero Midstream’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that Antero Midstream Corporation will post 1.12 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 4.2%. The ex-dividend date was Wednesday, April 29th. Antero Midstream’s payout ratio is currently 104.65%.

Antero Midstream Company 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.