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

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 yield of 4.65%. The ex-dividend date of this dividend is Monday, May 6th.

Equitrans Midstream has decreased its dividend payment by an average of 12.6% annually over the last three years. Equitrans Midstream has a dividend payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

ETRN stock opened at $12.89 on Wednesday. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76. Equitrans Midstream has a one year low of $4.65 and a one year high of $13.10. The stock has a market cap of $5.62 billion, a PE ratio of 14.48, a P/E/G ratio of 1.71 and a beta of 1.97. The firm has a 50 day simple moving average of $11.57 and a two-hundred day simple moving average of $10.40.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The business had revenue of $360.60 million during the quarter, compared to analysts’ expectations of $348.04 million. During the same quarter in the previous year, the company earned $0.13 EPS. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that Equitrans Midstream will post 0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ETRN. TheStreet upgraded shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a report on Wednesday, December 27th. 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 report on Thursday, February 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. Finally, Barclays increased 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. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Equitrans Midstream 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.