Antero Midstream (NYSE:AM) Sets New 1-Year High After Dividend Announcement

Antero Midstream Co. (NYSE:AM) hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $16.09 and last traded at $16.06, with a volume of 763677 shares trading hands. The stock had previously closed at $15.81.

The newly announced dividend which will be paid on Wednesday, February 12th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.225 per share. The ex-dividend date is Wednesday, January 29th. This represents a $0.90 dividend on an annualized basis and a yield of 5.51%. Antero Midstream’s dividend payout ratio is currently 111.11%.

Analysts Set New Price Targets

AM has been the topic of several analyst reports. Wells Fargo & Company cut shares of Antero Midstream from an “overweight” rating to an “equal weight” rating and set a $16.00 price target on the stock. in a research note on Wednesday, December 18th. StockNews.com downgraded Antero Midstream from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Antero Midstream Price Performance

The firm has a market cap of $7.86 billion, a PE ratio of 20.15 and a beta of 2.34. The firm’s fifty day simple moving average is $15.36 and its two-hundred day simple moving average is $14.96. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.49.

Insider Buying and Selling

In related news, Director Brooks J. Klimley sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $14.66, for a total value of $146,600.00. Following the transaction, the director now directly owns 74,100 shares of the company’s stock, valued at approximately $1,086,306. The trade was a 11.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Antero Midstream

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in Antero Midstream in the 3rd quarter worth $38,000. Financial Management Professionals Inc. lifted its position in shares of Antero Midstream by 58.6% in the fourth quarter. Financial Management Professionals Inc. now owns 2,706 shares of the pipeline company’s stock worth $41,000 after buying an additional 1,000 shares in the last quarter. Blue Trust Inc. boosted its stake in Antero Midstream by 149.4% during the third quarter. Blue Trust Inc. now owns 3,100 shares of the pipeline company’s stock valued at $46,000 after buying an additional 1,857 shares during the last quarter. Brooklyn Investment Group purchased a new position in Antero Midstream during the 3rd quarter valued at approximately $48,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Antero Midstream in the 2nd quarter worth approximately $55,000. Hedge funds and other institutional investors own 53.97% of the company’s stock.

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.