Dimensional Fund Advisors LP has increased its ownership in Antero Midstream Corporation (NYSE:AM) by 0.8% during the third quarter of 2023. According to its latest filing with the Securities and Exchange Commission (SEC), the investment firm now holds 9,224,028 shares of the pipeline company, valued at approximately $179.32 million. This increase follows the purchase of an additional 71,606 shares during the quarter.
Several other institutional investors have also adjusted their positions in Antero Midstream. Picton Mahoney Asset Management, for instance, acquired a new stake valued at around $890,000. Victory Capital Management Inc. significantly increased its holdings by 64.6%, now owning 556,708 shares worth $10.82 million after purchasing an additional 218,559 shares. American Century Companies Inc. raised its stake by 21.0% to a total of 3,081,943 shares, valued at $59.91 million. Overall, institutional investors and hedge funds control approximately 53.97% of Antero Midstream’s stock.
Market Sentiment and Analyst Ratings
Recent analyst reports have reflected a mixed sentiment towards Antero Midstream. Zacks Research recently raised its fiscal year 2026 earnings per share (EPS) forecast to $1.17, up from $0.96, suggesting improved earnings visibility. They also elevated their Q2 2027 EPS forecast to $0.32. Despite these positive adjustments, Zacks maintains a “Hold” rating on the stock, with the consensus EPS estimate hovering around $0.95 for the full year.
In contrast, some analysts have lowered expectations for certain quarters in 2027, which could dampen long-term earnings projections. For instance, Zacks trimmed its estimates for Q1 and Q3 2027 modestly from $1.23 to $1.21. The overall market remains volatile, influenced by geopolitical uncertainties and fluctuating oil prices, which may limit momentum for midstream companies like Antero.
Recent Insider Trading Activity
In related news, Antero Midstream Director Brooks J. Klimley sold 5,000 shares of the company on December 16, 2023, at an average price of $17.59, totaling $87,950. After this transaction, Klimley retains 72,622 shares valued at approximately $1.28 million, marking a 6.44% reduction in his ownership stake.
Stock Performance Overview
Antero Midstream’s stock opened at $22.94 on a recent trading day. The company boasts a market capitalization of $10.85 billion, with a price-to-earnings (P/E) ratio of 26.67 and a beta of 0.77. Its fifty-day moving average stands at $19.59, while the two-hundred day average is $18.65. Over the past year, the stock has fluctuated between a low of $15.07 and a high of $23.10.
The company recently reported earnings for the fourth quarter, revealing an EPS of $0.28, surpassing the consensus estimate of $0.24. Additionally, Antero generated revenue of $297 million, slightly above the expected $292.46 million. This reflects a 3.3% year-over-year revenue increase.
Antero Midstream has also declared a quarterly dividend of $0.225 per share, paid on February 11, 2024. This translates to an annualized dividend of $0.90 and a yield of 3.9%. The dividend payout ratio currently stands at 104.65%, indicating the company’s commitment to returning value to shareholders despite recent market fluctuations.
Founded in 2014 as a spin-off from Antero Resources, Antero Midstream Corporation is headquartered in Denver, Colorado. The company specializes in midstream services, including the gathering, processing, and transportation of natural gas and crude oil, primarily in the Appalachian Basin.
