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

Equitrans Midstream Co. (NYSE:ETRN) announced a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Investors 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 yield of 4.39%. The ex-dividend date 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 52.2% 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 Up 1.6 %

Shares of NYSE:ETRN opened at $13.66 on Friday. Equitrans Midstream has a 1 year low of $4.65 and a 1 year high of $14.21. The company has a market capitalization of $5.92 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.93. The business has a fifty day moving average price of $12.06 and a two-hundred day moving average price of $10.62. 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 posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $364.27 million during the quarter, compared to analyst estimates of $345.79 million. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts forecast that Equitrans Midstream will post 0.86 earnings per share for the current year.

Analyst Ratings Changes

ETRN has been the subject of several research analyst reports. Barclays raised their price target on shares of 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 downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. 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 report on Thursday, February 22nd. Wells Fargo & Company lifted their price objective on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. One 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, Equitrans Midstream currently has a consensus rating of “Hold” and a consensus 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.