Equitrans Midstream Co. (ETRN) To Go Ex-Dividend on May 6th

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 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 4.39%. 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 payout ratio of 52.2% meaning 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 1.7 %

NYSE ETRN opened at $13.67 on Friday. The firm has a market cap of $5.93 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.93. Equitrans Midstream has a one year low of $4.65 and a one year high of $14.21. The stock’s 50 day simple moving average is $12.00 and its 200 day simple moving average is $10.59. 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 released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $364.27 million for the quarter, compared to analyst estimates of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. Equitrans Midstream’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. As a group, sell-side analysts forecast that Equitrans Midstream will post 0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on ETRN shares. Royal Bank of Canada restated an “outperform” rating and issued 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 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 lifted 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. Wells Fargo & Company lifted their price target on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.19.

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.