Antero Midstream GP LP (AMGP) to Issue Dividend Increase – $0.06 Per Share
Antero Midstream GP LP (NASDAQ:AMGP) announced a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Stockholders of record on Wednesday, November 1st will be paid a dividend of 0.059 per share on Thursday, November 23rd. This represents a $0.24 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Tuesday, October 31st. This is a positive change from Antero Midstream GP’s previous quarterly dividend of $0.03.
Shares of Antero Midstream GP (AMGP) traded down 0.93% during mid-day trading on Thursday, hitting $20.27. 137,396 shares of the stock traded hands. Antero Midstream GP has a 52 week low of $17.66 and a 52 week high of $22.87. The stock has a market cap of $3.77 billion and a price-to-earnings ratio of 698.97. The firm’s 50-day moving average is $19.55 and its 200-day moving average is $20.72.
Several equities research analysts recently commented on the company. Stifel Nicolaus set a $24.00 price objective on Antero Midstream GP and gave the company a “hold” rating in a research report on Thursday, August 3rd. Scotiabank reissued a “hold” rating and issued a $24.00 target price on shares of Antero Midstream GP in a report on Wednesday, October 4th. Zacks Investment Research downgraded Antero Midstream GP from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Seaport Global Securities initiated coverage on Antero Midstream GP in a report on Tuesday. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Robert W. Baird set a $28.00 target price on Antero Midstream GP and gave the company a “buy” rating in a report on Friday, June 16th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $26.25.
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About Antero Midstream GP
Antero Midstream GP LP, formerly Antero Resources Midstream Management LLC, owns, operates and develops midstream energy infrastructure. The Company’s segments include gathering and processing and water handling and treatment. The gathering and processing segment consist of long-term, fee-based activities including low-pressure gathering, compression, high-pressure gathering, processing, fractionation, and condensate gathering.
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