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

Antero Midstream Corporation (NYSE:AM) declared a quarterly dividend on Wednesday, January 14th. Stockholders of record on Wednesday, January 28th will be given a dividend of 0.225 per share by the pipeline company on Wednesday, February 11th. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, January 28th.

Antero Midstream has decreased its dividend by an average of 0.0%annually over the last three years. Antero Midstream has a dividend 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 tumble. Equities 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 Price Performance

Shares of NYSE AM opened at $17.75 on Thursday. The stock’s 50-day simple moving average is $17.82 and its 200-day simple moving average is $18.01. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $8.45 billion, a PE ratio of 18.13 and a beta of 0.80. Antero Midstream has a fifty-two week low of $15.07 and a fifty-two week high of $19.82.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, October 29th. The pipeline company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. Antero Midstream had a net margin of 40.07% and a return on equity of 22.61%. The company had revenue of $294.82 million for the quarter, compared to analysts’ expectations of $287.30 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Antero Midstream will post 0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

AM has been the subject of several analyst reports. Morgan Stanley upped their price objective on Antero Midstream from $19.00 to $20.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. Wells Fargo & Company raised their target price on shares of Antero Midstream from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 23rd. Weiss Ratings reissued a “buy (b+)” rating on shares of Antero Midstream in a report on Monday, December 29th. Wall Street Zen lowered Antero Midstream from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Zacks Research raised Antero Midstream from a “hold” rating to a “strong-buy” rating in a report on Friday, January 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Antero Midstream presently has an average rating of “Hold” and an average price target of $19.17.

Antero Midstream Company Profile

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.