Everence Capital Management Inc. Makes New Investment in Antero Midstream Co. (NYSE:AM)

Everence Capital Management Inc. acquired a new stake in shares of Antero Midstream Co. (NYSE:AM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 29,890 shares of the pipeline company’s stock, valued at approximately $451,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its stake in Antero Midstream by 1.5% in the 3rd quarter. State Street Corp now owns 11,086,787 shares of the pipeline company’s stock worth $166,856,000 after purchasing an additional 160,593 shares during the period. Geode Capital Management LLC boosted its position in shares of Antero Midstream by 4.3% in the third quarter. Geode Capital Management LLC now owns 6,081,501 shares of the pipeline company’s stock worth $91,549,000 after buying an additional 251,987 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Antero Midstream by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,790,528 shares of the pipeline company’s stock valued at $57,047,000 after buying an additional 22,936 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Antero Midstream by 5.8% during the second quarter. Westwood Holdings Group Inc. now owns 3,359,310 shares of the pipeline company’s stock valued at $49,516,000 after buying an additional 184,911 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Antero Midstream by 12.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,906,052 shares of the pipeline company’s stock worth $28,686,000 after acquiring an additional 203,967 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

Shares of AM stock opened at $15.56 on Monday. The firm has a market cap of $7.49 billion, a P/E ratio of 19.21 and a beta of 2.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.09 and a quick ratio of 1.09. Antero Midstream Co. has a fifty-two week low of $11.58 and a fifty-two week high of $16.00. The stock’s 50-day moving average is $15.20 and its two-hundred day moving average is $14.91.

Antero Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend was Wednesday, October 23rd. Antero Midstream’s payout ratio is presently 111.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company cut Antero Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research note on Wednesday, December 18th. StockNews.com raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a research report on Monday, December 30th.

Insider Buying and Selling at Antero Midstream

In other Antero Midstream news, Director Brooks J. Klimley sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $14.66, for a total transaction of $146,600.00. Following the transaction, the director now directly owns 74,100 shares in the company, valued at $1,086,306. This trade represents a 11.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.