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

Antero Midstream Co. (NYSE:AM)’s stock price reached a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $16.09 and last traded at $16.06, with a volume of 763677 shares changing 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 $0.225 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.90 annualized dividend and a dividend yield of 5.51%. Antero Midstream’s payout ratio is currently 111.11%.

Analyst Ratings Changes

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

Antero Midstream Stock Performance

The company has a debt-to-equity ratio of 1.49, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day simple moving average of $15.36 and a 200-day simple moving average of $14.96. The firm has a market cap of $7.86 billion, a PE ratio of 20.15 and a beta of 2.34.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Antero Midstream

Hedge funds and other institutional investors have recently modified their holdings of the stock. Choreo LLC purchased a new position in shares of Antero Midstream during the 2nd quarter worth approximately $229,000. Federated Hermes Inc. lifted its position in Antero Midstream by 28.5% during the second quarter. Federated Hermes Inc. now owns 45,569 shares of the pipeline company’s stock valued at $672,000 after buying an additional 10,101 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Antero Midstream by 4.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 462,726 shares of the pipeline company’s stock worth $6,821,000 after buying an additional 21,552 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in Antero Midstream by 25.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 57,038 shares of the pipeline company’s stock worth $841,000 after purchasing an additional 11,626 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Antero Midstream during the second quarter valued at approximately $1,980,000. 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.