Equitrans Midstream Co. (NYSE:ETRN) to Issue 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 paid 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 4.65%. The ex-dividend date of this dividend is Monday, May 6th.

Equitrans Midstream has decreased its dividend by an average of 12.6% annually over the last three years. Equitrans Midstream has a payout ratio of 53.1% indicating that 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

NYSE ETRN opened at $12.89 on Wednesday. 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 firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.71 and a beta of 1.97. The firm’s 50 day simple moving average is $11.57 and its 200 day simple moving average is $10.40. Equitrans Midstream has a 1 year low of $4.65 and a 1 year high of $13.10.

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

Analysts Set New Price Targets

Several research firms recently issued reports on ETRN. TheStreet upgraded shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, December 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research report on Thursday, March 7th. Morgan Stanley dropped 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. Finally, Barclays increased their price objective on shares of 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 equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.