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

Equitrans Midstream Co. (NYSE:ETRN) announced a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Shareholders 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 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Monday, May 6th.

Equitrans Midstream has decreased its dividend by an average of 12.6% per year over the last three years. Equitrans Midstream has a dividend payout ratio of 53.1% meaning 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 Trading Up 0.1 %

NYSE:ETRN opened at $12.90 on Wednesday. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76. The business’s 50-day simple moving average is $11.57 and its 200-day simple moving average is $10.40. Equitrans Midstream has a fifty-two week low of $4.65 and a fifty-two week high of $13.10. The stock has a market capitalization of $5.63 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.71 and a beta of 1.97.

Equitrans Midstream (NYSE:ETRN) last announced its earnings results on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.16 by $0.16. The firm had revenue of $360.60 million for the quarter, compared to the consensus estimate of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. Sell-side analysts expect that Equitrans Midstream will post 0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ETRN. Morgan Stanley reduced their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. TheStreet raised Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, December 27th. Finally, Barclays boosted their target price on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.86.

Equitrans Midstream Company Profile

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.