Royal Bank of Canada Has $19.45 Million Holdings in Antero Midstream Corporation $AM

Royal Bank of Canada lifted its position in Antero Midstream Corporation (NYSE:AM) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 852,859 shares of the pipeline company’s stock after purchasing an additional 66,012 shares during the quarter. Royal Bank of Canada’s holdings in Antero Midstream were worth $19,445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Antero Midstream during the fourth quarter worth $66,998,000. Orbis Allan Gray Ltd bought a new stake in Antero Midstream in the 4th quarter valued at $25,084,000. Goldman Sachs Group Inc. raised its stake in shares of 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 valued at $69,739,000 after buying an additional 1,400,368 shares in the last quarter. SIR Capital Management L.P. raised its stake in shares of Antero Midstream by 1,086.9% in the 3rd quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock valued at $26,892,000 after buying an additional 1,266,794 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 worth $186,328,000 after acquiring an additional 1,161,684 shares during the period. 53.97% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Sheri Pearce sold 16,000 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $22.01, for a total value of $352,160.00. Following the transaction, the insider directly owned 83,900 shares in the company, valued at $1,846,639. This represents a 16.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brooks J. Klimley sold 5,000 shares of Antero Midstream stock in a transaction 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 sale, the director directly owned 68,204 shares of the company’s stock, valued at $1,450,699.08. This represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Antero Midstream Trading Up 1.5%

AM stock opened at $21.48 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream Corporation has a twelve month low of $16.96 and a twelve month high of $23.83. The company has a market cap of $10.20 billion, a P/E ratio of 25.58 and a beta of 0.65. The business has a fifty day moving average of $22.03 and a 200-day moving average of $21.67.

Antero Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Wednesday, July 29th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, July 29th. This represents a $0.90 dividend on an annualized basis and a yield of 4.2%. Antero Midstream’s dividend payout ratio is presently 107.14%.

Wall Street Analyst Weigh In

AM has been the topic of several recent research reports. Weiss Ratings lowered shares of Antero Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday. The Goldman Sachs Group set a $24.00 price target on shares of Antero Midstream in a research note on Tuesday, July 14th. Wells Fargo & Company lifted their price objective on Antero Midstream from $23.00 to $24.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Morgan Stanley raised Antero Midstream from an “underweight” rating to an “equal weight” rating and set a $26.00 target price for the company in a report on Wednesday, April 22nd. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.50.

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.