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

Antero Midstream Co. (NYSE:AM) announced a quarterly dividend on Wednesday, April 10th, Wall Street Journal reports. Shareholders of record on Wednesday, April 24th will be paid a dividend of 0.225 per share by the pipeline company on Wednesday, May 8th. This represents a $0.90 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend is Tuesday, April 23rd.

Antero Midstream has decreased its dividend by an average of 9.9% annually over the last three years. Antero Midstream has a payout ratio of 92.8% meaning 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 $1.03 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 87.4%.

Antero Midstream Trading Up 0.7 %

Shares of AM stock opened at $13.92 on Monday. The firm has a market cap of $6.68 billion, a P/E ratio of 18.08 and a beta of 2.25. The business has a 50-day moving average price of $13.50 and a two-hundred day moving average price of $12.87. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.49. Antero Midstream has a 12-month low of $9.69 and a 12-month high of $14.52.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Thursday, February 15th. The pipeline company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.21 by $0.03. The firm had revenue of $260.17 million for the quarter, compared to the consensus estimate of $261.04 million. Antero Midstream had a return on equity of 19.96% and a net margin of 35.69%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.20 earnings per share. Equities analysts anticipate that Antero Midstream will post 0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other Antero Midstream news, insider Sheri Pearce sold 16,394 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $13.67, for a total transaction of $224,105.98. Following the transaction, the insider now owns 170,266 shares in the company, valued at approximately $2,327,536.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Antero Midstream

A number of hedge funds have recently made changes to their positions in AM. Covestor Ltd boosted its position in shares of Antero Midstream by 2,155.9% in the 1st quarter. Covestor Ltd now owns 2,301 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 2,199 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of Antero Midstream by 248.2% in the 1st quarter. Belpointe Asset Management LLC now owns 2,646 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,886 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Antero Midstream by 1,731.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 6,354 shares of the pipeline company’s stock worth $67,000 after purchasing an additional 6,007 shares in the last quarter. KBC Group NV bought a new stake in shares of Antero Midstream in the 4th quarter worth approximately $80,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Antero Midstream in the 2nd quarter worth approximately $82,000. 53.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on AM. StockNews.com upgraded Antero Midstream from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Tudor, Pickering, Holt & Co. downgraded Antero Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $12.00 to $13.00 in a report on Tuesday, March 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.70.

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.