Why Antero Midstream Stock Slumped 13.5% in February
Shares Antero Midstream (NYSE: AM) declined by 13.5% in February, according to data provided by S&P Global Market Intelligence. Among the factors weighing on the midstream company was its outlook for 2020 and the continued weakness in the oil and gas markets.
Antero Midstream reported its fourth-quarter results last month. The number that stood out was the $159 million of distributable cash flow it produced during the quarter. Not only was that total down 5% year over year, but it also only covered its dividend by a tight 1.1 times. Because of that, it wasn't able to retain much money to fund capital expenses, which totaled $126 million during that quarter. As a result, its leverage rose to 3.5 times debt-to-EBITDA.
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Source Fool.com
