Public Employees Retirement System of Ohio Invests $2.22 Million in Antero Midstream Corporation $AM

Public Employees Retirement System of Ohio purchased a new stake in shares of Antero Midstream Corporation (NYSE:AM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 97,531 shares of the pipeline company’s stock, valued at approximately $2,219,000.

Several other institutional investors and hedge funds also recently made changes to their positions in AM. BlackRock Inc. bought a new position in Antero Midstream in the 2nd quarter valued at approximately $869,045,000. Invesco Ltd. increased its holdings in shares of Antero Midstream by 3.4% in the 4th quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company’s stock worth $417,069,000 after purchasing an additional 776,791 shares in the last quarter. State Street Corp raised its stake in shares of Antero Midstream by 1.7% in the fourth quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock worth $201,691,000 after purchasing an additional 187,912 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Antero Midstream by 12.5% in the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock worth $186,328,000 after purchasing an additional 1,161,684 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Antero Midstream by 11.2% during the first quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after purchasing an additional 920,948 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Insider Activity

In other news, insider Sheri Pearce sold 16,000 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total transaction of $352,160.00. Following the completion of the sale, the insider owned 83,900 shares of the company’s stock, valued at $1,846,639. This represents a 16.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 68,204 shares in the company, valued at $1,450,699.08. This trade represents a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

AM has been the topic of several recent analyst reports. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday, July 14th. Weiss Ratings cut shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, August 3rd. 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, August 3rd. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.50.

Antero Midstream Price Performance

Shares of AM opened at $22.61 on Monday. The firm has a fifty day simple moving average of $22.31 and a two-hundred day simple moving average of $22.12. The firm has a market cap of $10.73 billion, a PE ratio of 26.92 and a beta of 0.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a 1-year low of $16.96 and a 1-year high of $23.83.

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

Antero Midstream Dividend Announcement

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

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.