Altus Midstream (NASDAQ:ALTM) declared a quarterly dividend on Thursday, December 10th, Zacks reports. Investors of record on Friday, February 26th will be paid a dividend of 1.50 per share on Wednesday, March 31st. This represents a $6.00 dividend on an annualized basis and a yield of 10.91%. The ex-dividend date is Thursday, February 25th.
Altus Midstream has a dividend payout ratio of 130.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Altus Midstream to earn $4.60 per share next year, which means the company may not be able to cover its $6.00 annual dividend with an expected future payout ratio of 130.4%.
Shares of NASDAQ:ALTM opened at $54.98 on Tuesday. The company has a market capitalization of $893.21 million, a price-to-earnings ratio of -0.55 and a beta of 3.97. Altus Midstream has a 52 week low of $9.40 and a 52 week high of $56.15. The company has a quick ratio of 1.01, a current ratio of 1.23 and a debt-to-equity ratio of 7.97. The firm has a 50 day moving average of $50.70 and a 200 day moving average of $39.44.
Altus Midstream Company Profile
Altus Midstream Company owns gas gathering, processing, and transmission assets in the Permian Basin of West Texas. As of December 31, 2019, its assets included approximately 178 miles of in-service natural gas gathering, 55 miles of residue gas, and 38 miles of natural gas liquids (NGL) pipelines; three cryogenic processing trains; and an NGL truck loading terminal with six lease automatic custody transfer units and eight NGL bullet tanks.
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