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

Equitrans Midstream Co. (NYSE:ETRN) announced a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Stockholders of record on Tuesday, May 7th will be given 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 of this dividend 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 payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Equitrans Midstream stock traded up $0.03 on Tuesday, hitting $12.89. The stock had a trading volume of 4,794,736 shares, compared to its average volume of 6,333,704. Equitrans Midstream has a 52-week low of $4.65 and a 52-week high of $13.10. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.66 and a beta of 1.97. The company’s 50 day moving average price is $11.51 and its 200 day moving average price is $10.38.

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

Analyst Ratings Changes

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