Principal Financial Group Inc. Lowers Stock Position in Antero Midstream Co. (NYSE:AM)

Principal Financial Group Inc. cut its position in shares of Antero Midstream Co. (NYSE:AM) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 777,129 shares of the pipeline company’s stock after selling 5,658 shares during the quarter. Principal Financial Group Inc. owned approximately 0.16% of Antero Midstream worth $11,727,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AM. FMR LLC grew its position in Antero Midstream by 121.9% during the third quarter. FMR LLC now owns 1,092,755 shares of the pipeline company’s stock valued at $16,446,000 after buying an additional 600,208 shares during the period. Jennison Associates LLC raised its holdings in shares of Antero Midstream by 128.0% in the 4th quarter. Jennison Associates LLC now owns 1,031,526 shares of the pipeline company’s stock worth $15,566,000 after purchasing an additional 579,191 shares during the period. Columbus Macro LLC purchased a new position in Antero Midstream in the fourth quarter valued at approximately $6,977,000. Oppenheimer & Co. Inc. grew its holdings in Antero Midstream by 74.5% during the third quarter. Oppenheimer & Co. Inc. now owns 686,933 shares of the pipeline company’s stock valued at $10,338,000 after purchasing an additional 293,238 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Antero Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 6,081,501 shares of the pipeline company’s stock valued at $91,549,000 after purchasing an additional 251,987 shares during the period. 53.97% of the stock is owned by institutional investors.

Antero Midstream Stock Performance

Shares of AM opened at $16.22 on Friday. Antero Midstream Co. has a 52-week low of $13.12 and a 52-week high of $16.99. The stock’s 50-day simple moving average is $15.95 and its 200 day simple moving average is $15.34. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 19.54 and a beta of 2.31.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, February 12th. The pipeline company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Antero Midstream had a net margin of 36.24% and a return on equity of 18.82%. Research analysts forecast that Antero Midstream Co. will post 0.95 EPS for the current fiscal year.

Antero Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th were issued a $0.225 dividend. The ex-dividend date was Wednesday, January 29th. This represents a $0.90 annualized dividend and a dividend yield of 5.55%. Antero Midstream’s payout ratio is currently 108.43%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wells Fargo & Company upped their price target on Antero Midstream from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th. StockNews.com raised shares of Antero Midstream from a “hold” rating to a “buy” rating in a report on Tuesday, February 4th.

About Antero Midstream

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.