Equitrans Midstream (NYSE:ETRN) Sets New 12-Month High After Dividend Announcement

Equitrans Midstream Co. (NYSE:ETRN) shares reached a new 52-week high on Tuesday after the company announced a dividend. The company traded as high as $13.08 and last traded at $13.07, with a volume of 1579102 shares traded. The stock had previously closed at $12.86.

The newly announced dividend which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is currently 67.42%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ETRN shares. TheStreet raised Equitrans Midstream from a “d+” rating to a “c-” rating in a research note on Wednesday, December 27th. Barclays lifted their target price on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Morgan Stanley reduced their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a research report on Thursday, March 7th. Two equities research 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, Equitrans Midstream presently has a consensus rating of “Hold” and an average target price of $10.86.

Equitrans Midstream Price Performance

The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The stock has a market cap of $5.86 billion, a PE ratio of 15.08, a P/E/G ratio of 1.71 and a beta of 1.97. The company has a fifty day moving average of $11.64 and a 200-day moving average of $10.43.

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

Institutional Investors Weigh In On Equitrans Midstream

Large investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in shares of Equitrans Midstream during the 1st quarter worth about $25,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Equitrans Midstream during the 4th quarter worth about $39,000. Mather Group LLC. acquired a new position in shares of Equitrans Midstream during the 1st quarter worth about $54,000. AlphaMark Advisors LLC boosted its position in shares of Equitrans Midstream by 66.2% in the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock valued at $53,000 after purchasing an additional 2,250 shares during the period. Finally, Hexagon Capital Partners LLC boosted its position in shares of Equitrans Midstream by 185.8% in the 4th quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock valued at $58,000 after purchasing an additional 3,716 shares during the period. Hedge funds and other institutional investors own 87.35% of the company’s stock.

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.