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

Equitrans Midstream Co. (NYSE:ETRN) declared a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.39%. 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 dividend payout ratio of 52.2% indicating that its dividend is sufficiently covered by earnings. Equities 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

ETRN opened at $13.67 on Friday. The firm has a market cap of $5.93 billion, a P/E ratio of 15.18, a PEG ratio of 1.82 and a beta of 1.93. Equitrans Midstream has a 1-year low of $4.65 and a 1-year high of $14.21. The company has a 50 day simple moving average of $12.00 and a two-hundred day simple moving average of $10.59. 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 issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $364.27 million during the quarter, compared to analysts’ expectations of $345.79 million. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $0.22 EPS. Equities analysts forecast that Equitrans Midstream will post 0.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.