Equitrans Midstream (NYSE:ETRN) Issues Quarterly Earnings Results

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

Equitrans Midstream Stock Performance

Shares of NYSE ETRN traded down $0.51 during trading on Wednesday, reaching $13.02. 2,157,596 shares of the stock traded hands, compared to its average volume of 6,294,238. Equitrans Midstream has a 52-week low of $4.65 and a 52-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. The company has a 50-day moving average of $11.89 and a 200-day moving average of $10.55. The stock has a market capitalization of $5.68 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.85 and a beta of 1.97.

Equitrans Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders 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 yield of 4.61%. Equitrans Midstream’s dividend payout ratio (DPR) is presently 67.42%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ETRN. Morgan Stanley dropped their price target on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Barclays boosted their price target on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. Finally, US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.86.

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.