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

Equitrans Midstream Co. (NYSE:ETRN) announced a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Stockholders 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 4.65%. The ex-dividend date 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. 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 Trading Up 0.2 %

NYSE:ETRN traded up $0.03 during trading hours on Tuesday, hitting $12.89. The company had a trading volume of 4,794,736 shares, compared to its average volume of 6,333,704. Equitrans Midstream has a 1 year low of $4.65 and a 1 year high of $13.10. The company has a 50-day moving average of $11.51 and a 200 day moving average of $10.38. The company has a market cap of $5.62 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.66 and a beta of 1.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ETRN. Morgan Stanley reduced their price target on 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 reissued an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Barclays increased their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, TheStreet upgraded Equitrans Midstream from a “d+” rating to a “c-” rating in a report on Wednesday, December 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Equitrans Midstream has an average 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.