Equitrans Midstream (NYSE:ETRN) Issues Quarterly Earnings Results

Equitrans Midstream (NYSE:ETRN) released its earnings results on Tuesday. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03, Briefing.com reports. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The firm had revenue of $364.27 million during the quarter, compared to analyst estimates of $345.79 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year.

Equitrans Midstream Price Performance

Shares of NYSE:ETRN traded down $0.51 during midday trading on Wednesday, reaching $13.02. The company’s stock had a trading volume of 2,157,596 shares, compared to its average volume of 6,294,238. The business’s fifty day simple moving average is $11.89 and its 200-day simple moving average is $10.55. The company has a market capitalization of $5.68 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.85 and a beta of 1.97. Equitrans Midstream has a fifty-two week low of $4.65 and a fifty-two week high of $14.21. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76.

Equitrans Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.61%. Equitrans Midstream’s dividend payout ratio (DPR) is presently 67.42%.

Wall Street Analyst Weigh In

ETRN has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. Morgan Stanley cut their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Barclays boosted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $10.86.

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.