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

Key Points

• Quarterly dividend of $0.225 per share announced, payable May 13 to holders of record on April 29 (annualized $0.90, ~4.2% yield).
• The dividend is largely covered but potentially at risk: the payout ratio is about 81.8% (projected to rise to ~89.1% on analysts' $1.01 EPS next year), and the company recently missed quarterly EPS ($0.11 vs $0.24 consensus).
• Insiders sold 44,000 shares (~$1.0M) over the last quarter and own 0.86% of the stock, while institutional investors hold roughly 54%, with Vanguard and Invesco among the largest holders.

Antero Midstream Corporation (NYSE:AM - Get Free Report) announced a quarterly dividend on Wednesday, April 15th. Investors of record on Wednesday, April 29th will be paid a dividend of 0.225 per share by the pipeline company on Wednesday, May 13th. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, April 29th.

Antero Midstream has decreased its dividend by an average of 0.1%per year over the last three years. Antero Midstream has a dividend 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. 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 Stock Up 0.1%

NYSE AM opened at $21.28 on Thursday. The business has a fifty day moving average price of $22.16 and a 200 day moving average price of $19.51. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.41 and a current ratio of 3.41. The company has a market cap of $10.07 billion, a P/E ratio of 24.74 and a beta of 0.75. Antero Midstream has a one year low of $16.24 and a one year high of $23.83.

Antero Midstream (NYSE:AM - Get Free Report) last announced its earnings results on Wednesday, February 11th. The pipeline company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The business had revenue of $297.00 million for the quarter, compared to analyst estimates of $292.46 million. Antero Midstream had a return on equity of 20.12% and a net margin of 34.77%.The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.23 EPS. Research analysts anticipate that Antero Midstream will post 0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sheri Pearce sold 14,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $22.76, for a total transaction of $318,640.00. Following the completion of the transaction, the insider directly owned 99,900 shares in the company, valued at approximately $2,273,724. This represents a 12.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yvette K. Schultz sold 25,000 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $22.81, for a total value of $570,250.00. Following the sale, the insider directly owned 649,834 shares of the company's stock, valued at $14,822,713.54. The trade was a 3.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 44,000 shares of company stock valued at $1,004,690 over the last quarter. 0.86% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Antero Midstream by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 37,213,184 shares of the pipeline company's stock worth $723,424,000 after acquiring an additional 124,102 shares during the last quarter. Invesco Ltd. raised its position in Antero Midstream by 3.4% in the fourth quarter. Invesco Ltd. now owns 23,444,026 shares of the pipeline company's stock valued at $417,069,000 after purchasing an additional 776,791 shares during the period. State Street Corp lifted its stake in Antero Midstream by 1.7% during the fourth quarter. State Street Corp now owns 11,337,298 shares of the pipeline company's stock worth $201,691,000 after purchasing an additional 187,912 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Antero Midstream by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 10,472,491 shares of the pipeline company's stock worth $186,328,000 after buying an additional 1,161,684 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Antero Midstream by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 9,224,028 shares of the pipeline company's stock worth $179,316,000 after buying an additional 71,606 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

About Antero Midstream

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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