Janine McArdle, a director at Antero Midstream Corp (NYSE:AM), recently purchased additional shares in the company. The $7.18 billion midstream operator, which boasts a robust 6.05% dividend yield and has maintained dividend payments for 8 consecutive years, has delivered an impressive 26.68% return year-to-date. According to a recent SEC filing, McArdle acquired 1,174 shares of Antero Midstream's common stock at a price of $15.11 per share. This transaction, completed on December 13, 2024, amounts to a total investment of $17,739. Following this acquisition, McArdle holds 68,320 shares in the company. According to InvestingPro, the stock is currently trading near its 52-week high, with additional insights available in the comprehensive Pro Research Report.
In other recent news, Antero Midstream Partners LP experienced a slight dip in their third-quarter performance, primarily due to lower water contributions. Goldman Sachs has adjusted its outlook on the company, lowering the price target to $14.50 from the previous $15.00, while maintaining a neutral rating. Despite these challenges, Antero Midstream has kept its EBITDA guidance for the year steady, forecasting between $1,035 million and $1,075 million. However, potential incremental deferrals from their sponsor, Antero Resources (NYSE:AR), could impact their water segment.
The company's third-quarter results also revealed a 2% year-over-year increase in EBITDA to $256 million and a 32% rise in free cash flow after dividends to $40 million. Antero Midstream's management is committed to reducing debt, expecting a decline in capital expenditures in the fourth quarter of 2024. The Torreys Peak Compressor Station is progressing as planned, and strong international LPG pricing is positively affecting the company's financial position. These are recent developments and do not serve as a comprehensive view of the company.
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