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Antero (AM) Initiates Dividend Payment, Cheers Investors

Zacks Equity Research
ONE Gas (OGS) reports strong Q1 results, courtesy of new rates, colder-than-normal weather and customer growth.

Antero Midstream Corporation AM has cheered investors with the announcement of the first-ever dividend after Antero Midstream GP LP completed the buyout of Antero Midstream Partners LP on Mar 12. On the same day, Antero Midstream GP was transformed into a corporation with a new name – Antero Midstream Corporation.

The first-quarter 2019 dividend of 30.25 cents per share has been approved by the board of directors. Notably, the dividend is 180% higher than Antero Midstream GP’s year-ago quarter distribution and 84% sequentially. Investors should know that the dividend is likely to be paid on May 8, to stockholders of record as of Apr 26.

Moreover, in comparison with the first-quarter 2018 distribution of Antero Midstream Partners LP, the dividend is 47% higher. The sequential increase is 22% when the dividend is compared with the fourth-quarter 2018 distribution of Antero Midstream Partners. Importantly, since Antero Midstream Partners went public in November 2014, there has been 17 successive quarters of dividend or distribution increases.

Based in Denver, CO, Antero Midstream Corp. has ownership stakes in midstream infrastructures that comprise assets related to processing, gathering, compression and fractionation activities.

The stock currently carries a Zacks Rank #3 (Hold). Meanwhile, a few better-ranked players in the energy space are Antero Resources Corp. AR, Royal Dutch Shell plc RDS.A and ProPetro Holding Corp. PUMP. While Antero Resources and NGL Energy sport a Zacks Rank #1 (Strong Buy), ProPetro Holding carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.  

Antero Resources is likely to see earnings growth of 20% over the next five years.

Royal Dutch Shell is expected to see earnings growth of 8% over the next five years, higher than the industry’s 7.6%. 

ProPetro Holding is likely to see 19.5% earnings growth through 2019.

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