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

Key Points

• Antero Midstream Corporation announced a quarterly dividend of $0.23 per share, with a yield of 4.6%, payable on November 5th to investors of record by October 22nd.
• The company has a current payout ratio of 81.8%, indicating its dividend is currently covered by earnings, but future coverage may be at risk if earnings decline.
• Recently, Antero Midstream shares traded at $19.38, reflecting a 1.3% increase, with a market capitalization of $9.27 billion and a 52-week price range between $14.22 and $19.82.

Antero Midstream Corporation (NYSE:AM - Get Free Report) announced a quarterly dividend on Wednesday, October 8th, RTT News reports. Investors of record on Wednesday, October 22nd will be paid a dividend of 0.225 per share by the pipeline company on Wednesday, November 5th. This represents a c) dividend on an annualized basis and a yield of 4.6%.

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 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 Trading Up 1.3%

AM traded up $0.25 during midday trading on Wednesday, reaching $19.38. 1,815,468 shares of the company's stock traded hands, compared to its average volume of 2,390,217. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 20.40 and a beta of 0.85. Antero Midstream has a 52 week low of $14.22 and a 52 week high of $19.82. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a fifty day moving average of $18.43 and a two-hundred day moving average of $18.00.

Antero Midstream (NYSE:AM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. Antero Midstream had a net margin of 39.53% and a return on equity of 21.67%. The firm had revenue of $305.47 million during the quarter, compared to the consensus estimate of $292.70 million. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The company's revenue was up 13.2% on a year-over-year basis. On average, equities analysts anticipate that Antero Midstream will post 0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Antero Midstream news, insider Sheri Pearce sold 39,155 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total value of $685,604.05. Following the sale, the insider directly owned 106,489 shares of the company's stock, valued at approximately $1,864,622.39. This trade represents a 26.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Antero Midstream

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Antero Midstream during the 2nd quarter worth $80,504,000. Boston Trust Walden Corp bought a new position in Antero Midstream during the first quarter worth $51,269,000. Tortoise Capital Advisors L.L.C. raised its stake in Antero Midstream by 31.7% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company's stock worth $167,614,000 after buying an additional 2,242,283 shares during the last quarter. Nuveen LLC bought a new stake in Antero Midstream in the first quarter valued at $25,226,000. Finally, Goldman Sachs Group Inc. increased its stake in 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 in the last quarter. Institutional investors own 53.97% of the company's stock.

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.

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