Antero Midstream Corporation $AM Shares Purchased by Royal Bank of Canada

Royal Bank of Canada grew its holdings in shares of Antero Midstream Corporation (NYSE:AM) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 852,859 shares of the pipeline company’s stock after buying an additional 66,012 shares during the period. Royal Bank of Canada owned 0.18% of Antero Midstream worth $19,445,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Arax Advisory Partners lifted its holdings in shares of Antero Midstream by 83.9% during the fourth quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock valued at $31,000 after purchasing an additional 791 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Antero Midstream by 68.1% during the 4th quarter. Larson Financial Group LLC now owns 1,747 shares of the pipeline company’s stock valued at $31,000 after buying an additional 708 shares during the period. Root Financial Partners LLC increased its position in Antero Midstream by 36.4% in the 1st quarter. Root Financial Partners LLC now owns 2,014 shares of the pipeline company’s stock worth $46,000 after purchasing an additional 537 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Antero Midstream by 219,900.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,200 shares of the pipeline company’s stock valued at $39,000 after buying an additional 2,199 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in shares of Antero Midstream by 401.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 2,778 shares of the pipeline company’s stock valued at $53,000 after buying an additional 2,224 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Insider Activity at Antero Midstream

In other news, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the completion of the sale, the director owned 68,204 shares in the company, valued at $1,450,699.08. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Antero Midstream Price Performance

NYSE AM opened at $21.48 on Friday. Antero Midstream Corporation has a 1 year low of $16.96 and a 1 year high of $23.83. The company has a fifty day simple moving average of $22.03 and a 200 day simple moving average of $21.67. 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 company has a market cap of $10.20 billion, a P/E ratio of 25.58 and a beta of 0.65.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s payout ratio is currently 107.14%.

Wall Street Analyst Weigh In

AM has been the topic of several recent research reports. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 22nd. The Goldman Sachs Group set a $24.00 target price on shares of Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings lowered shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday. Finally, Wells Fargo & Company raised their price target on shares of Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.50.

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.