Bank of New York Mellon Corp Decreases Stock Holdings in Antero Midstream Co. (NYSE:AM)

Bank of New York Mellon Corp reduced its stake in shares of Antero Midstream Co. (NYSE:AM – Get Rating) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,606,677 shares of the pipeline company’s stock after selling 59,978 shares during the quarter. Bank of New York Mellon Corp’s holdings in Antero Midstream were worth $170,808,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AM. Advisor Group Holdings Inc. increased its position in Antero Midstream by 58.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 33,613 shares of the pipeline company’s stock valued at $365,000 after buying an additional 12,431 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Antero Midstream by 11.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 99,908 shares of the pipeline company’s stock valued at $1,086,000 after buying an additional 10,513 shares in the last quarter. HighTower Advisors LLC increased its position in Antero Midstream by 21.4% during the 1st quarter. HighTower Advisors LLC now owns 76,529 shares of the pipeline company’s stock valued at $829,000 after buying an additional 13,493 shares in the last quarter. Private Advisor Group LLC acquired a new position in Antero Midstream during the 1st quarter valued at about $239,000. Finally, Bank of Montreal Can increased its position in Antero Midstream by 12.1% during the 1st quarter. Bank of Montreal Can now owns 171,400 shares of the pipeline company’s stock valued at $1,889,000 after buying an additional 18,435 shares in the last quarter. 52.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AM. Morgan Stanley increased their price objective on Antero Midstream from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Monday, January 9th. Barclays increased their price objective on Antero Midstream from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, January 18th. StockNews.com began coverage on Antero Midstream in a report on Thursday. They issued a “hold” rating on the stock. Finally, TheStreet raised Antero Midstream from a “c” rating to a “b-” rating in a report on Monday, November 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.00.

Antero Midstream Stock Down 1.0 %

Shares of AM opened at $9.90 on Friday. Antero Midstream Co. has a 52 week low of $8.56 and a 52 week high of $11.61. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 14.56 and a beta of 2.39. The stock’s 50-day moving average price is $10.76 and its 200-day moving average price is $10.54.

Antero Midstream (NYSE:AM – Get Rating) last issued its earnings results on Thursday, February 16th. The pipeline company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Antero Midstream had a return on equity of 17.10% and a net margin of 35.46%. The firm had revenue of $241.60 million for the quarter, compared to the consensus estimate of $235.91 million. During the same quarter in the prior year, the business earned $0.20 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Antero Midstream Co. will post 0.79 EPS for the current year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th were paid a $0.225 dividend. The ex-dividend date was Tuesday, January 24th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 9.09%. Antero Midstream’s payout ratio is 132.35%.

Insider Transactions at Antero Midstream

In related news, Director David H. Keyte bought 10,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were purchased at an average price of $10.01 per share, for a total transaction of $100,100.00. Following the completion of the purchase, the director now directly owns 79,373 shares of the company’s stock, valued at $794,523.73. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.80% of the company’s stock.

About Antero Midstream

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Antero Midstream Corp. is a growth-oriented midstream energy company, which owns, operates, and develops midstream energy assets to service Antero Resources production and completion activity. It operates through the Gathering and Processing and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collect and process production from Antero Resources wells in West Virginia and Ohio.