Corigliano Investment Advisers LLC Buys Shares of 282,000 Antero Midstream Corporation $AM

Corigliano Investment Advisers LLC purchased a new position in Antero Midstream Corporation (NYSE:AM) during the fourth quarter, HoldingsChannel reports. The firm purchased 282,000 shares of the pipeline company’s stock, valued at approximately $5,017,000. Antero Midstream makes up about 1.8% of Corigliano Investment Advisers LLC’s investment portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of AM. Norges Bank bought a new stake in shares of Antero Midstream during the 4th quarter valued at $66,998,000. Orbis Allan Gray Ltd bought a new position in Antero Midstream in the 4th quarter worth $25,084,000. Goldman Sachs Group Inc. raised its holdings 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 worth $69,739,000 after purchasing an additional 1,400,368 shares during the period. SIR Capital Management L.P. lifted its position in Antero Midstream by 1,086.9% during the third quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock valued at $26,892,000 after purchasing an additional 1,266,794 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Antero Midstream by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company’s stock valued at $186,328,000 after purchasing an additional 1,161,684 shares in the last quarter. 53.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the completion of the transaction, the insider owned 1,500,594 shares of the company’s stock, valued at $32,893,020.48. This represents a 6.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the completion of the sale, the insider owned 580,565 shares in the company, valued at $12,714,373.50. This represents a 10.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Antero Midstream Stock Performance

NYSE AM opened at $21.40 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.89. Antero Midstream Corporation has a twelve month low of $16.77 and a twelve month high of $23.83. The business has a 50-day moving average price of $21.56 and a 200-day moving average price of $20.54. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 24.88 and a beta of 0.66.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The business had revenue of $314.21 million during the quarter, compared to analysts’ expectations of $311.30 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, equities research analysts predict that Antero Midstream Corporation will post 1.12 EPS for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Investors of record on Wednesday, April 29th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. Antero Midstream’s dividend payout ratio is currently 104.65%.

Analysts Set New Price Targets

Several research analysts have recently commented on AM shares. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Antero Midstream in a research note on Wednesday, June 3rd. UBS Group boosted their price objective on Antero Midstream from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, March 25th. Wells Fargo & Company increased their target price on shares of Antero Midstream from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, March 13th. Morgan Stanley raised shares of Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price target on the stock in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group upped their price target on shares of Antero Midstream from $18.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $24.00.

Antero Midstream Profile

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.