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

Antero Midstream Corporation (NYSE:AM - Get Free Report) declared a quarterly dividend on Wednesday, July 9th, RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date is Wednesday, July 23rd.

Antero Midstream has a payout ratio of 81.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. 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 Trading Down 0.8%

Shares of Antero Midstream stock traded down $0.14 during midday trading on Thursday, reaching $17.42. 2,124,638 shares of the company's stock traded hands, compared to its average volume of 2,983,921. The stock has a 50 day moving average of $18.35 and a 200-day moving average of $17.13. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market cap of $8.35 billion, a PE ratio of 20.02 and a beta of 1.01. Antero Midstream has a 12 month low of $13.12 and a 12 month high of $19.09.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley reiterated an "underweight" rating and issued a $17.00 price objective (up previously from $16.00) on shares of Antero Midstream in a report on Tuesday, June 3rd. Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a report on Thursday, April 3rd.

Insider Transactions at Antero Midstream

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AM. Royal Bank of Canada lifted its position in shares of Antero Midstream by 0.8% during the 1st quarter. Royal Bank of Canada now owns 180,928 shares of the pipeline company's stock valued at $3,256,000 after buying an additional 1,371 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Antero Midstream by 174.9% during the 1st quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company's stock valued at $1,508,000 after buying an additional 53,281 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Antero Midstream by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company's stock valued at $69,739,000 after buying an additional 1,400,368 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Antero Midstream by 4.8% during the 1st 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 during the period. 53.97% of the stock is owned by hedge funds and other institutional investors.

About Antero Midstream

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.