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PBNAF - Antero Midstream: A Very High Yield But Could Be In Jeopardy
Pembina Pipeline Corp Pfd 5 Yr Reset Cl A Ser 1%
Antero Midstream boasts a 15% yield, but that could be the market telling us to expect a cut.
The company is highly dependent on Antero Resources for business.
Antero Resources is cutting back heavily on capital spending next year in response to various market issues.
The long-term fundamentals are good but 2021 may be challenging.
The company is well financed but the dividend coverage is a bit tight, so Antero Midstream may struggle to maintain its dividend in the face of capex cuts.