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Why Altus Midstream's Stock Is Trading Higher Today

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Why Altus Midstream's Stock Is Trading Higher Today

Altus Midstream (NASDAQ: ALTM) shares are trading higher on Thursday after the company reported third-quarter earnings results. The company also announced a $1.50 per share dividend beginning in March 2021.

Altus Midstream is the United States-based midstream corporation. Through its consolidated subsidiaries, it owns natural gas gathering, processing, and transmission assets including transmission and gathering pipelines, compressor stations, mechanical refrigeration units, cryogenic units and associated gas treatment facilities in the Permian Basin of West Texas. The majority of the revenue is generated from gas processing services.

Altus Midstream shares were trading up 120.34% at $22.10 on Thursday. The stock has a 52-week high of $56.90 and a 52-week low of $9.40.

 

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Posted-In: why it's movingEarnings News Dividends