Vestcor Inc Invests $328,000 in Antero Midstream Co. (NYSE:AM)

Vestcor Inc bought a new stake in Antero Midstream Co. (NYSE:AM) during the fourth quarter, HoldingsChannel.com reports. The fund bought 21,755 shares of the pipeline company’s stock, valued at approximately $328,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Financial Management Professionals Inc. boosted its stake in shares of Antero Midstream by 58.6% in the fourth quarter. Financial Management Professionals Inc. now owns 2,706 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 1,000 shares during the period. Brooklyn Investment Group acquired a new position in shares of Antero Midstream in the third quarter worth about $48,000. Blue Trust Inc. boosted its holdings in Antero Midstream by 84.3% in the fourth quarter. Blue Trust Inc. now owns 5,712 shares of the pipeline company’s stock valued at $86,000 after purchasing an additional 2,612 shares during the last quarter. GAMMA Investing LLC grew its stake in Antero Midstream by 44.5% during the 4th quarter. GAMMA Investing LLC now owns 6,372 shares of the pipeline company’s stock valued at $96,000 after purchasing an additional 1,962 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Antero Midstream by 17.8% during the 4th quarter. Allworth Financial LP now owns 6,305 shares of the pipeline company’s stock worth $104,000 after purchasing an additional 951 shares during the last quarter. Institutional investors and hedge funds own 53.97% of the company’s stock.

Antero Midstream Stock Up 2.6 %

Shares of Antero Midstream stock opened at $17.45 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average price of $16.34 and a 200 day moving average price of $15.55. Antero Midstream Co. has a fifty-two week low of $13.12 and a fifty-two week high of $17.47. The firm has a market cap of $8.35 billion, a P/E ratio of 21.02 and a beta of 2.33.

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

Antero Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Wednesday, January 29th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date was Wednesday, January 29th. Antero Midstream’s dividend payout ratio is presently 108.43%.

Analysts Set New Price Targets

Several research firms have recently commented on AM. Wells Fargo & Company increased their target price on Antero Midstream from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. StockNews.com downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating in a research note on Saturday.

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.