Jennison Associates LLC Has $11.74 Million Position in Antero Midstream Co. (NYSE:AM)

Jennison Associates LLC trimmed its stake in Antero Midstream Co. (NYSE:AM) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 937,261 shares of the pipeline company’s stock after selling 9,164 shares during the period. Jennison Associates LLC owned about 0.20% of Antero Midstream worth $11,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AM. Invesco Ltd. raised its holdings in shares of Antero Midstream by 0.4% in the third quarter. Invesco Ltd. now owns 33,534,655 shares of the pipeline company’s stock valued at $401,745,000 after buying an additional 135,163 shares during the last quarter. RR Advisors LLC increased its holdings in shares of Antero Midstream by 2.9% in the third quarter. RR Advisors LLC now owns 6,076,000 shares of the pipeline company’s stock valued at $72,785,000 after purchasing an additional 169,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Antero Midstream by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,503,015 shares of the pipeline company’s stock worth $41,966,000 after purchasing an additional 309,126 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Antero Midstream by 2.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,265,000 shares of the pipeline company’s stock valued at $27,135,000 after buying an additional 46,600 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Antero Midstream by 2.0% during the third quarter. American Century Companies Inc. now owns 1,854,749 shares of the pipeline company’s stock worth $22,220,000 after acquiring an additional 36,374 shares during the last quarter. 53.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on AM. Tudor, Pickering, Holt & Co. downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating and boosted their price target for the stock from $12.00 to $13.00 in a research note on Tuesday, March 12th. StockNews.com cut Antero Midstream from a “buy” rating to a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.70.

Insider Buying and Selling at Antero Midstream

In other news, insider Sheri Pearce sold 16,394 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $13.67, for a total value of $224,105.98. Following the completion of the transaction, the insider now owns 170,266 shares in the company, valued at approximately $2,327,536.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.52% of the company’s stock.

Antero Midstream Trading Up 1.5 %

NYSE AM opened at $14.23 on Friday. Antero Midstream Co. has a one year low of $9.69 and a one year high of $14.52. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $6.83 billion, a P/E ratio of 18.48 and a beta of 2.25. The stock’s 50-day moving average is $13.63 and its 200-day moving average is $12.90.

Antero Midstream (NYSE:AM) last issued its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.03. The company had revenue of $260.17 million during the quarter, compared to the consensus estimate of $261.04 million. Antero Midstream had a net margin of 35.69% and a return on equity of 19.96%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Sell-side analysts anticipate that Antero Midstream Co. will post 0.98 earnings per share for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend is Tuesday, April 23rd. Antero Midstream’s dividend payout ratio (DPR) is currently 116.88%.

Antero Midstream Company 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.