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Janine McArdle, director of Antero Midstream Corp (NYSE 🙂, recently purchased additional shares of the company. The $7.18 billion midstream operator, which boasts a solid 6.05% dividend yield and has maintained dividend payments for 8 consecutive years, it has returned an impressive 26.68% so far this year. According to a recent SEC filing, McArdle acquired 1,174 shares of Antero common stock. Midstream 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 owns 68,320 shares of the company. According to InvestingPro, the stock is currently trading. near its 52-week high, with additional information available in the comprehensive Pro Research Report.
In other recent news, Antero Midstream Partners LP saw a slight drop in performance in the third quarter, primarily due to lower water contributions. Goldman Sachs has adjusted its outlook on the company, lowering the price target to $14.50 from $15.00 previously, while maintaining a neutral rating. Despite these challenges, Antero Midstream has kept its EBITDA guidance stable for the year, forecasting between $1,035 million and $1,075 million. However, possible incremental deferrals by its sponsor, Antero Resources (NYSE:), could impact its water segment.
The company’s third-quarter results also revealed a 2% year-over-year increase in EBITDA to $256 million and a 32% increase in free cash flow after dividends to $40 million. Antero Midstream management is committed to debt reduction and expects a decrease in capital expenditures in the fourth quarter of 2024. The Torreys Peak compressor station is progressing as planned and strong international LPG prices are positively impacting the financial position of the company. These are recent developments and do not offer a complete view of the company.
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