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Antero Midstream (AM) Update - Feb 22

Posted: Sat Feb 22, 2020 9:21 am
by dan_s
We sent out updated profiles for AR and AM this morning. I want to be clear that AM is a C-Corp and not an MLP.

AM is the midstream company that was created and is controlled by AR.

From everything AM indicates in their Q4 press release, the company intends to keep their quarterly dividend at $0.3075 or $1.23/year for annual yield 25.8% based Feb, 21 closing price of $4.76.
Based on the company's detailed guidance, they should have DCF coverage of 1.1X.
Based on my forecast model, AM should generate approximately $730 million cash flow from operations. This compares to the 2020 capital program of $300-$325 million.

AR's hedging program insulates them from the low natural gas prices for two years.

Re: Antero Midstream (AM) Update - Feb 22

Posted: Thu Apr 30, 2020 10:44 am
by k1f
Where is the current profile of AR on the EPG website?

Re: Antero Midstream (AM) Update - Feb 22

Posted: Thu Apr 30, 2020 12:22 pm
by dan_s
When we dropped it from the Sweet 16, AR's profile went into the "black hole".

I will repost it under the High Yield tab. I will also update and repost the forecast/valuation model for AR.