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. Shareholders 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 annualized dividend 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% per year over the last three years. Equitrans Midstream has a dividend payout ratio of 53.1% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Performance

Shares of ETRN stock opened at $12.90 on Wednesday. The stock’s fifty day simple moving average is $11.57 and its 200-day simple moving average is $10.40. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.71 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 has a 1-year low of $4.65 and a 1-year high of $13.10.

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

Analyst Upgrades and Downgrades

Several research firms have commented on ETRN. Barclays increased their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. TheStreet upgraded Equitrans Midstream from a “d+” rating to a “c-” rating in a report on Wednesday, December 27th. Morgan Stanley dropped their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. 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. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.