Antero Midstream Partners LP (AM) to Issue Dividend Increase – $0.34 Per Share
Antero Midstream Partners LP (NYSE:AM) declared a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Investors of record on Wednesday, November 1st will be given a dividend of 0.34 per share by the pipeline company on Thursday, November 16th. This represents a $1.36 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Tuesday, October 31st. This is a positive change from Antero Midstream Partners’s previous quarterly dividend of $0.32.
Antero Midstream Partners has increased its dividend by an average of 47.9% annually over the last three years. Antero Midstream Partners has a dividend payout ratio of 83.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Antero Midstream Partners to earn $2.08 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 61.5%.
Antero Midstream Partners (AM) traded down 0.41% on Thursday, reaching $31.39. 184,714 shares of the company were exchanged. Antero Midstream Partners has a 12-month low of $27.01 and a 12-month high of $35.74. The stock has a 50 day moving average of $31.86 and a 200 day moving average of $32.90. The firm has a market capitalization of $5.86 billion, a PE ratio of 21.32 and a beta of 1.92.
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Several analysts have issued reports on AM shares. BidaskClub lowered shares of Antero Midstream Partners from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered shares of Antero Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Guggenheim started coverage on shares of Antero Midstream Partners in a research report on Thursday, July 20th. They issued a “buy” rating and a $37.00 price objective on the stock. Scotiabank set a $44.00 price objective on shares of Antero Midstream Partners and gave the company a “buy” rating in a research report on Saturday, July 22nd. Finally, Stifel Nicolaus raised shares of Antero Midstream Partners from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, August 15th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $39.25.
In related news, major shareholder Resources Corp Antero sold 10,000,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $31.11, for a total value of $311,100,000.00. Following the transaction, the insider now directly owns 98,870,335 shares in the company, valued at $3,075,856,121.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 7.91% of the company’s stock.
A hedge fund recently raised its stake in Antero Midstream Partners stock. The Manufacturers Life Insurance Company boosted its position in shares of Antero Midstream Partners LP (NYSE:AM) by 8.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,347 shares of the pipeline company’s stock after buying an additional 410 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Antero Midstream Partners were worth $177,000 at the end of the most recent quarter. 43.22% of the stock is currently owned by institutional investors and hedge funds.
About Antero Midstream Partners
Antero Midstream Partners LP is a limited partnership formed by Antero Resources Corporation (Antero Resources) to own, operate and develop midstream energy assets to service Antero Resources’ production. The Company’s segments include gathering and compression, and water handling and treatment. The gathering and compression segment includes a network of gathering pipelines, compressor stations, and processing and fractionation plants that collect and process natural gas, natural gas liquids (NGLs) and oil from Antero Resources’ wells in West Virginia and Ohio.
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