Picton Mahoney Asset Management Makes New Investment in Antero Midstream Corporation $AM

Picton Mahoney Asset Management acquired a new position in Antero Midstream Corporation (NYSE:AM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 45,728 shares of the pipeline company’s stock, valued at approximately $890,000.

Other large investors have also bought and sold shares of the company. Royal Bank of Canada grew its stake in Antero Midstream by 0.8% in the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company’s stock valued at $3,256,000 after acquiring an additional 1,371 shares during the period. AQR Capital Management LLC boosted its stake in shares of Antero Midstream by 174.9% in the 1st quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company’s stock worth $1,508,000 after buying an additional 53,281 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after purchasing an additional 1,400,368 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Antero Midstream by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company’s stock valued at $17,029,000 after acquiring an additional 43,335 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Antero Midstream by 16.7% in the second quarter. Envestnet Asset Management Inc. now owns 645,904 shares of the pipeline company’s stock valued at $12,240,000 after buying an additional 92,587 shares during the period. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

Shares of NYSE AM opened at $22.94 on Friday. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of 26.67 and a beta of 0.77. The company has a current ratio of 3.41, a quick ratio of 3.41 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $19.59 and a 200 day moving average of $18.63. Antero Midstream Corporation has a 12-month low of $15.07 and a 12-month high of $23.10.

Antero Midstream (NYSE:AM) last posted its quarterly earnings data on Wednesday, February 11th. The pipeline company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.24 by $0.04. The firm had revenue of $297.00 million for the quarter, compared to the consensus estimate of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. On average, research analysts anticipate that Antero Midstream Corporation will post 0.95 earnings per share for the current year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, January 28th were paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, January 28th. Antero Midstream’s dividend payout ratio (DPR) is presently 104.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company increased their target price on Antero Midstream from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, February 13th. The Goldman Sachs Group boosted their price objective on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Morgan Stanley raised their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Zacks Research downgraded Antero Midstream from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.33.

Insider Activity

In related news, Director Brooks J. Klimley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $17.59, for a total value of $87,950.00. Following the sale, the director directly owned 72,622 shares in the company, valued at approximately $1,277,420.98. The trade was a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.86% of the company’s stock.

About Antero Midstream

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.