Antero Midstream GP LP (AMGP) Raises Dividend to $0.06 Per Share

Antero Midstream GP LP (NASDAQ:AMGP) declared a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Shareholders of record on Wednesday, November 1st will be paid a dividend of 0.059 per share on Thursday, November 23rd. This represents a $0.24 annualized dividend and a yield of 1.16%. The ex-dividend date is Tuesday, October 31st. This is a positive change from Antero Midstream GP’s previous quarterly dividend of $0.03.

Antero Midstream GP (AMGP) opened at 20.27 on Friday. The firm’s 50-day moving average is $19.60 and its 200 day moving average is $20.71. Antero Midstream GP has a 12 month low of $17.66 and a 12 month high of $22.87. The firm has a market capitalization of $3.77 billion and a P/E ratio of 698.97.

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AMGP has been the topic of several research reports. Robert W. Baird set a $28.00 price objective on shares of Antero Midstream GP and gave the company a “buy” rating in a research report on Friday, June 16th. Scotiabank set a $25.00 price objective on shares of Antero Midstream GP and gave the company a “hold” rating in a research report on Friday, July 21st. Stifel Nicolaus set a $24.00 price objective on shares of Antero Midstream GP and gave the company a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Antero Midstream GP from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Finally, Morgan Stanley restated an “overweight” rating on shares of Antero Midstream GP in a research report on Tuesday, September 5th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.25.

About Antero Midstream GP

Antero Midstream GP LP, formerly Antero Resources Midstream Management LLC, owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing and water handling and treatment. The gathering and processing segment consist of long-term, fee-based activities including low-pressure gathering, compression, high-pressure gathering, processing, fractionation, and condensate gathering.

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