Antero Midstream Corporation Announces Quarterly Dividend of $0.23 (NYSE:AM)

Antero Midstream Corporation (NYSE:AM - Get Free Report) announced a quarterly dividend on Wednesday, July 9th, RTT News reports. Shareholders of record on Wednesday, July 23rd will be paid a dividend of 0.225 per share by the pipeline company on Wednesday, August 6th. This represents a $0.90 annualized dividend and a yield of 5.13%.

Antero Midstream has a dividend payout ratio of 81.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities analysts expect Antero Midstream to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 89.1%.

Antero Midstream Stock Down 0.8%

Shares of AM stock opened at $17.54 on Thursday. The stock has a market cap of $8.41 billion, a P/E ratio of 20.16 and a beta of 1.01. Antero Midstream has a 52 week low of $13.12 and a 52 week high of $19.09. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.49. The company's fifty day simple moving average is $18.35 and its two-hundred day simple moving average is $17.13.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The pipeline company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The business had revenue of $291.13 million for the quarter, compared to analysts' expectations of $277.79 million. Antero Midstream had a net margin of 37.35% and a return on equity of 19.75%. The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Analysts predict that Antero Midstream will post 0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Brooks J. Klimley sold 5,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $18.88, for a total value of $94,400.00. Following the sale, the director directly owned 73,645 shares of the company's stock, valued at $1,390,417.60. This represents a 6.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Antero Midstream

A number of hedge funds have recently added to or reduced their stakes in AM. AQR Capital Management LLC grew its stake in Antero Midstream by 174.9% in the 1st quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company's stock worth $1,508,000 after acquiring an additional 53,281 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Antero Midstream by 0.8% during the first quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company's stock valued at $3,256,000 after purchasing an additional 1,371 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Antero Midstream by 4.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 946,082 shares of the pipeline company's stock valued at $17,029,000 after purchasing an additional 43,335 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Antero Midstream by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock valued at $69,739,000 after purchasing an additional 1,400,368 shares in the last quarter. 53.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AM. Wall Street Zen upgraded shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Thursday, April 3rd. Morgan Stanley reissued an "underweight" rating and issued a $17.00 price objective (up from $16.00) on shares of Antero Midstream in a research report on Tuesday, June 3rd.

Antero Midstream Company 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.

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