Equitrans Midstream (NYSE:ETRN) Issues Earnings Results

Equitrans Midstream (NYSE:ETRN) issued its quarterly earnings data on Tuesday. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03, Briefing.com reports. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The business had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. During the same period in the prior year, the business posted $0.22 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year.

Equitrans Midstream Price Performance

Shares of ETRN stock traded up $0.22 during trading hours on Friday, hitting $13.66. The company’s stock had a trading volume of 4,279,148 shares, compared to its average volume of 6,290,871. The business has a fifty day moving average of $12.00 and a 200-day moving average of $10.59. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 1.75 and a beta of 1.93. Equitrans Midstream has a twelve month low of $4.65 and a twelve month high of $14.21. The company has a current ratio of 0.63, a quick ratio of 0.76 and a debt-to-equity ratio of 4.88.

Equitrans Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be issued 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 yield of 4.39%. Equitrans Midstream’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

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