Antero Midstream Corp (NYSE:AM) to Issue $0.31 Quarterly Dividend

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Antero Midstream Corp (NYSE:AM) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Investors of record on Friday, November 1st will be paid a dividend of 0.308 per share by the pipeline company on Wednesday, November 13th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 16.68%. The ex-dividend date of this dividend is Thursday, October 31st.

Antero Midstream has increased its dividend payment by an average of 34.0% per year over the last three years and has increased its dividend every year for the last 3 years. Antero Midstream has a dividend payout ratio of 73.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Antero Midstream to earn $0.93 per share next year, which means the company may not be able to cover its $1.23 annual dividend with an expected future payout ratio of 132.3%.

Shares of NYSE AM opened at $7.39 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.49 and a quick ratio of 0.49. The company has a market cap of $3.78 billion, a P/E ratio of 22.38, a PEG ratio of 1.82 and a beta of 1.31. Antero Midstream has a 1 year low of $6.55 and a 1 year high of $18.23. The firm has a 50-day simple moving average of $7.22 and a two-hundred day simple moving average of $10.44.

Antero Midstream (NYSE:AM) last announced its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.07). The firm had revenue of $255.62 million during the quarter, compared to the consensus estimate of $283.69 million. Antero Midstream had a return on equity of 10.52% and a net margin of 29.31%. Antero Midstream’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts expect that Antero Midstream will post 0.7 EPS for the current year.

Several analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of Antero Midstream from $15.00 to $9.00 and set an “outperform” rating for the company in a research note on Monday, September 9th. UBS Group downgraded shares of Antero Midstream from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $13.00 in a research note on Thursday, August 1st. ValuEngine raised shares of Antero Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Raymond James downgraded shares of Antero Midstream from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus downgraded shares of Antero Midstream from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $14.00 to $11.00 in a research note on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.67.

In other news, insider K. Phil Yoo sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.97, for a total transaction of $104,550.00. Following the transaction, the insider now directly owns 301,955 shares of the company’s stock, valued at $2,104,626.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director W Howard Keenan, Jr. sold 2,855,848 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $6.81, for a total transaction of $19,448,324.88. Company insiders own 7.91% of the company’s stock.

Antero Midstream Company Profile

Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.

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Dividend History for Antero Midstream (NYSE:AM)

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