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

Key Points

• Antero Midstream declared a quarterly dividend of $0.225 per share, payable on August 12 to shareholders of record on July 29. The dividend implies an annualized yield of about 4.0%.
• The company’s dividend appears covered for now, with a payout ratio of 81.8%, and analysts expect future earnings of $1.26 per share, which would lower the payout ratio to about 71.4%.
• In its latest quarterly results, Antero Midstream reported $0.25 EPS, missing estimates by a penny, while revenue of $314.21 million beat expectations and rose 7.9% year over year.

Antero Midstream Corporation (NYSE:AM - Get Free Report) declared a quarterly dividend on Wednesday, July 15th. Investors of record on Wednesday, July 29th will be given a dividend of 0.225 per share by the pipeline company on Wednesday, August 12th. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Wednesday, July 29th.

Antero Midstream has decreased its dividend payment by an average of 0.1%annually over the last three years. 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 decline. Equities analysts expect Antero Midstream to earn $1.26 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 71.4%.

Antero Midstream Stock Performance

Shares of AM stock opened at $22.39 on Thursday. The company has a market capitalization of $10.63 billion, a P/E ratio of 26.03 and a beta of 0.64. Antero Midstream has a fifty-two week low of $16.77 and a fifty-two week high of $23.83. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day moving average price of $21.89 and a two-hundred day moving average price of $21.17.

Antero Midstream (NYSE:AM - Get Free Report) last issued its earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Antero Midstream had a return on equity of 20.38% and a net margin of 33.90%.The firm had revenue of $314.21 million during the quarter, compared to the consensus estimate of $311.30 million. During the same quarter in the prior year, the business posted $0.25 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. Analysts expect that Antero Midstream will post 1.1 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on AM. Morgan Stanley raised Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 target price on the stock in a research note on Wednesday, April 22nd. Weiss Ratings lowered shares of Antero Midstream from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday, June 25th. The Goldman Sachs Group set a $24.00 price objective on Antero Midstream in a research report on Tuesday. Finally, UBS Group boosted their price target on Antero Midstream from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, March 25th. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $24.25.

Antero Midstream Company Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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