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

Antero Midstream Corporation (NYSE:AM) declared a quarterly dividend on Wednesday, April 15th. Investors of record on Wednesday, April 29th will be given 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 payment by an average of 0.1%annually over the last three years. Antero Midstream has a payout ratio of 81.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 0.1%

AM stock opened at $21.28 on Thursday. 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’s 50-day simple moving average is $22.16 and its 200 day simple moving average is $19.51. Antero Midstream has a 52 week low of $16.24 and a 52 week high of $23.83. The company has a market capitalization of $10.07 billion, a PE ratio of 24.74 and a beta of 0.75.

Antero Midstream (NYSE:AM) last released its quarterly earnings results on Wednesday, February 11th. The pipeline company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). Antero Midstream had a net margin of 34.77% and a return on equity of 20.12%. The business had revenue of $297.00 million during the quarter, compared to analyst estimates of $292.46 million. During the same quarter last year, the company posted $0.23 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Antero Midstream will post 0.95 earnings per share for the current year.

Insider Transactions at Antero Midstream

In other news, insider Yvette K. Schultz sold 25,000 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $22.81, for a total value of $570,250.00. Following the completion of the transaction, the insider owned 649,834 shares of the company’s stock, valued at approximately $14,822,713.54. This represents a 3.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sheri Pearce sold 14,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,273,724. This trade represents a 12.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 44,000 shares of company stock valued at $1,004,690. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AM. Norges Bank bought a new position in shares of Antero Midstream in the fourth quarter worth about $66,998,000. Bank of New York Mellon Corp raised its holdings in Antero Midstream by 22.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 7,848,461 shares of the pipeline company’s stock valued at $152,574,000 after buying an additional 1,430,138 shares during the last quarter. Orbis Allan Gray Ltd bought a new position in Antero Midstream in the 4th quarter valued at approximately $25,084,000. Goldman Sachs Group Inc. raised its holdings in Antero Midstream by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,874,379 shares of the pipeline company’s stock valued at $69,739,000 after buying an additional 1,400,368 shares during the last quarter. Finally, SIR Capital Management L.P. raised its holdings in Antero Midstream by 1,086.9% in the 3rd quarter. SIR Capital Management L.P. now owns 1,383,349 shares of the pipeline company’s stock valued at $26,892,000 after buying an additional 1,266,794 shares during the last quarter. 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.