Millennium Management LLC Buys 356,982 Shares of Antero Midstream Co. (NYSE:AM)

Millennium Management LLC grew its stake in Antero Midstream Co. (NYSE:AM) by 19.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,218,167 shares of the pipeline company’s stock after purchasing an additional 356,982 shares during the quarter. Millennium Management LLC’s holdings in Antero Midstream were worth $33,472,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AM. Financial Management Professionals Inc. increased its stake in shares of Antero Midstream by 58.6% during the fourth quarter. Financial Management Professionals Inc. now owns 2,706 shares of the pipeline company’s stock valued at $41,000 after buying an additional 1,000 shares during the period. Atomi Financial Group Inc. grew its holdings in Antero Midstream by 7.9% during the 4th quarter. Atomi Financial Group Inc. now owns 33,787 shares of the pipeline company’s stock worth $510,000 after acquiring an additional 2,465 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Antero Midstream by 22.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 928,015 shares of the pipeline company’s stock valued at $14,004,000 after purchasing an additional 171,730 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Antero Midstream by 15.3% in the 4th quarter. First Citizens Bank & Trust Co. now owns 20,294 shares of the pipeline company’s stock valued at $306,000 after purchasing an additional 2,689 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Antero Midstream by 84.3% in the 4th quarter. Blue Trust Inc. now owns 5,712 shares of the pipeline company’s stock valued at $86,000 after purchasing an additional 2,612 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Antero Midstream Stock Performance

Shares of Antero Midstream stock opened at $18.98 on Monday. The company has a market capitalization of $9.10 billion, a PE ratio of 22.87 and a beta of 0.99. The company has a 50-day simple moving average of $17.31 and a two-hundred day simple moving average of $16.30. Antero Midstream Co. has a one year low of $13.12 and a one year high of $19.14. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.17 and a current ratio of 1.17.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Wednesday, April 30th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.02. Antero Midstream had a net margin of 36.24% and a return on equity of 18.82%. The firm had revenue of $291.13 million for the quarter, compared to the consensus estimate of $277.79 million. During the same quarter in the previous year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Antero Midstream Co. will post 0.95 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Wednesday, April 23rd. Antero Midstream’s payout ratio is presently 103.45%.

Wall Street Analyst Weigh In

AM has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of Antero Midstream from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. StockNews.com raised Antero Midstream from a “hold” rating to a “buy” rating in a research report on Thursday, April 3rd.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.