Western Wealth Management LLC Makes New Investment in Antero Midstream Corporation $AM

Western Wealth Management LLC bought a new position in Antero Midstream Corporation (NYSE:AM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,392 shares of the pipeline company’s stock, valued at approximately $579,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its position 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 during the last quarter. State Street Corp grew its position in Antero Midstream by 1.7% during the 4th quarter. State Street Corp now owns 11,337,298 shares of the pipeline company’s stock valued at $201,691,000 after purchasing an additional 187,912 shares during the last quarter. Geode Capital Management LLC increased its stake in Antero Midstream by 12.5% during the 4th 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. Bank of New York Mellon Corp increased its stake in Antero Midstream by 11.2% during the 1st 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. Finally, Goldman Sachs Group Inc. raised its holdings in Antero Midstream by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock worth $69,739,000 after buying an additional 1,400,368 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on AM shares. Weiss Ratings downgraded shares of Antero Midstream from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 25th. 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 research report on Monday. Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 price objective on the stock in a research report on Wednesday, April 22nd. Finally, The Goldman Sachs Group set a $24.00 target price on Antero Midstream in a research note on Tuesday, July 14th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.50.

Antero Midstream Price Performance

Shares of NYSE:AM opened at $22.02 on Tuesday. Antero Midstream Corporation has a fifty-two week low of $16.96 and a fifty-two week high of $23.83. The business has a 50-day simple moving average of $22.02 and a two-hundred day simple moving average of $21.60. 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 market cap of $10.45 billion, a price-to-earnings ratio of 26.21 and a beta of 0.65.

Antero Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 12th. Stockholders of record on Wednesday, July 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, July 29th. Antero Midstream’s payout ratio is presently 107.14%.

Antero Midstream Company 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.