Corigliano Investment Advisers LLC Acquires Shares of 282,000 Antero Midstream Corporation $AM

Corigliano Investment Advisers LLC acquired a new stake in shares of Antero Midstream Corporation (NYSE:AM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 282,000 shares of the pipeline company’s stock, valued at approximately $5,017,000. Antero Midstream comprises about 1.8% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 19th largest holding. Corigliano Investment Advisers LLC owned about 0.06% of Antero Midstream as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Aristeia Capital L.L.C. purchased a new position in Antero Midstream during the 4th quarter valued at about $430,000. Guggenheim Capital LLC increased its stake in shares of Antero Midstream by 7.7% during the fourth quarter. Guggenheim Capital LLC now owns 223,846 shares of the pipeline company’s stock valued at $3,982,000 after buying an additional 15,946 shares during the period. Cetera Investment Advisers raised its holdings in shares of Antero Midstream by 7.8% during the fourth quarter. Cetera Investment Advisers now owns 789,264 shares of the pipeline company’s stock valued at $14,041,000 after acquiring an additional 57,314 shares in the last quarter. Amundi lifted its stake in Antero Midstream by 22.1% in the fourth quarter. Amundi now owns 802,220 shares of the pipeline company’s stock worth $14,271,000 after acquiring an additional 145,264 shares during the period. Finally, BTG Pactual Asset Management US LLC purchased a new stake in Antero Midstream in the fourth quarter worth $3,765,000. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Michael N. Kennedy sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.92, for a total value of $2,192,000.00. Following the completion of the transaction, the insider directly owned 1,500,594 shares in the company, valued at $32,893,020.48. The trade was a 6.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the transaction, the insider directly owned 580,565 shares in the company, valued at $12,714,373.50. This trade represents a 10.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

AM has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, March 13th. UBS Group lifted their target price on shares of Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Antero Midstream in a research report on Wednesday, June 3rd. The Goldman Sachs Group increased their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Finally, Morgan Stanley upgraded shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective for the company in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.00.

Antero Midstream Price Performance

Shares of AM opened at $21.40 on Thursday. Antero Midstream Corporation has a fifty-two week low of $16.77 and a fifty-two week high of $23.83. The firm’s 50-day simple moving average is $21.56 and its two-hundred day simple moving average is $20.54. The stock has a market cap of $10.16 billion, a PE ratio of 24.88 and a beta of 0.66. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99.

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

Antero Midstream Announces Dividend

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

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.