Equitrans Midstream Co. (NYSE:ETRN) Declares $0.15 Quarterly Dividend

Equitrans Midstream Co. (NYSE:ETRN) declared a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Investors of record on Tuesday, May 7th will be paid a dividend of 0.15 per share on Wednesday, May 15th. This represents a $0.60 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Monday, May 6th.

Equitrans Midstream has decreased its dividend payment by an average of 12.6% per year over the last three years. Equitrans Midstream has a dividend payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Equitrans Midstream to earn $1.13 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 53.1%.

Equitrans Midstream Stock Performance

Shares of ETRN opened at $13.66 on Friday. The company has a market cap of $5.92 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.93. The firm has a 50-day moving average of $12.06 and a 200-day moving average of $10.62. Equitrans Midstream has a one year low of $4.65 and a one year high of $14.21. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.76.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. As a group, equities analysts forecast that Equitrans Midstream will post 0.86 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ETRN shares. Barclays raised their price target on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company increased their target price on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. Finally, Morgan Stanley lowered their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.19.

About Equitrans Midstream

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.