The Manufacturers Life Insurance Company Purchases Shares of 214,165 Antero Midstream Corporation $AM

The Manufacturers Life Insurance Company purchased a new position in shares of Antero Midstream Corporation (NYSE:AM) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 214,165 shares of the pipeline company’s stock, valued at approximately $4,872,000.

A number of other large investors have also bought and sold shares of the stock. Clearstead Trust LLC purchased a new position in shares of Antero Midstream in the second quarter worth $30,000. Larson Financial Group LLC boosted its position in 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. Arax Advisory Partners grew its holdings in Antero Midstream by 83.9% in the 4th quarter. Arax Advisory Partners now owns 1,734 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 791 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 acquiring an additional 2,199 shares during the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Antero Midstream by 36.4% during the first 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 period. 53.97% of the stock is owned by hedge funds and other institutional investors.

Antero Midstream Price Performance

AM stock opened at $22.44 on Tuesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50 day moving average price of $22.31 and a 200-day moving average price of $22.08. Antero Midstream Corporation has a 52-week low of $16.96 and a 52-week high of $23.83. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 26.71 and a beta of 0.65.

Antero Midstream (NYSE:AM) last issued its quarterly earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. The firm had revenue of $327.24 million during the quarter, compared to the consensus estimate of $326.43 million. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%.The company’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. Equities research analysts forecast that Antero Midstream Corporation will post 1.09 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Investors of record on Wednesday, July 29th were issued a $0.225 dividend. The ex-dividend date was Wednesday, July 29th. This represents a $0.90 annualized dividend and a yield of 4.0%. Antero Midstream’s dividend payout ratio (DPR) is currently 107.14%.

Insider Buying and Selling

In other Antero Midstream news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $21.27, for a total value of $106,350.00. Following the transaction, the director directly owned 68,204 shares in the company, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the completion of the transaction, the insider directly owned 83,900 shares in the company, valued at approximately $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AM. The Goldman Sachs Group set a $24.00 price target on Antero Midstream in a report on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on Antero Midstream from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings downgraded Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.50.

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.