Antero Midstream Corporation (NYSE:AM) Shareholders to Receive $0.23 Quarterly Dividend

Antero Midstream Corporation (NYSE:AM) announced a quarterly dividend on Wednesday, October 14th. Investors of record on Wednesday, October 28th will be paid a dividend of $0.2250 per share by the pipeline company on Wednesday, November 11th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, October 28th.

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 tumble. Equities research analysts expect Antero Midstream to earn $1.29 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 69.8%.

Antero Midstream Trading Down 1.7%

NYSE AM opened at $20.73 on Thursday. The stock has a 50-day simple moving average of $21.69 and a 200 day simple moving average of $21.86. The company has a market capitalization of $9.84 billion, a PE ratio of 24.67 and a beta of 0.72. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.83. Antero Midstream has a 12 month low of $16.96 and a 12 month high of $23.83.

Antero Midstream (NYSE:AM) last released its earnings results on Wednesday, July 29th. The pipeline company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Antero Midstream had a return on equity of 20.19% and a net margin of 32.41%. The firm had revenue of $327.24 million for the quarter, compared to analyst estimates of $326.43 million. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Research analysts forecast that Antero Midstream will post 1.09 EPS for the current year.

Insider Buying and Selling at Antero Midstream

In related news, Director Brooks J. Klimley sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $21.27, for a total transaction of $106,350.00. Following the sale, the director owned 68,204 shares of the company’s stock, valued at approximately $1,450,699.08. This trade represents a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sheri Pearce sold 16,000 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $22.01, for a total value of $352,160.00. Following the sale, the insider directly owned 83,900 shares in the company, valued at $1,846,639. The trade was a 16.02% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AM. BlackRock Inc. acquired a new stake in shares of Antero Midstream during the second quarter worth about $869,045,000. Bank of New York Mellon Corp lifted its holdings in shares of Antero Midstream by 11.2% during the 1st quarter. Bank of New York Mellon Corp now owns 9,129,288 shares of the pipeline company’s stock valued at $208,148,000 after purchasing an additional 920,948 shares in the last quarter. Kayne Anderson Capital Advisors LP bought a new position in shares of Antero Midstream during the 2nd quarter valued at about $49,883,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Antero Midstream during the 2nd quarter valued at about $46,007,000. Finally, RR Advisors LLC bought a new position in shares of Antero Midstream during the 2nd quarter valued at about $34,435,000. 53.97% of the stock is owned by institutional investors and hedge funds.

Antero Midstream Company Profile

Antero Midstream Corporation (NYSE: AM) owns, operates and develops midstream energy infrastructure that supports natural gas, natural gas liquids and oil production in the Appalachian Basin. The company primarily serves Antero Resources Corporation, providing the gathering and processing services needed to move production from well sites into downstream markets.

Antero Midstream’s operations include natural gas gathering, compression and processing, as well as water handling and related services.