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. Stockholders 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 dividend yield of 5.16%. The ex-dividend date of this dividend 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. Equities research 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 Price Performance

Shares of AM stock traded up $0.00 on Friday, reaching $17.44. The company's stock had a trading volume of 1,543,371 shares, compared to its average volume of 2,985,511. The stock's fifty day simple moving average is $18.36 and its 200-day simple moving average is $17.19. Antero Midstream has a 1 year low of $13.12 and a 1 year high of $19.09. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 20.05 and a beta of 1.01. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.49.

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AM. Wall Street Zen raised Antero Midstream from a "hold" rating to a "buy" rating in a research note on Thursday, April 3rd. Morgan Stanley reissued an "underweight" rating and set a $17.00 target price (up previously from $16.00) on shares of Antero Midstream in a research report on Tuesday, June 3rd.

Insider Activity at Antero Midstream

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. Corporate insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On Antero Midstream

Several hedge funds and other institutional investors have recently modified their holdings of AM. Royal Bank of Canada boosted its position in Antero Midstream by 0.8% in 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 during the period. AQR Capital Management LLC boosted its holdings in shares of Antero Midstream by 174.9% in the first quarter. AQR Capital Management LLC now owns 83,752 shares of the pipeline company's stock valued at $1,508,000 after purchasing an additional 53,281 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Antero Midstream by 56.6% in 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Antero Midstream by 4.8% in 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 worth $17,029,000 after purchasing an additional 43,335 shares in the last quarter. 53.97% of the stock is currently owned by hedge funds and other institutional investors.

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.