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

Equitrans Midstream Co. (NYSE:ETRN - Get Free Report) declared a quarterly dividend on Tuesday, April 23rd, 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 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. 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

Equitrans Midstream stock traded up $0.03 during trading hours on Tuesday, hitting $12.89. 5,404,048 shares of the company traded hands, compared to its average volume of 6,334,426. The firm has a market cap of $5.62 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.66 and a beta of 1.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.83. The firm's 50-day simple moving average is $11.57 and its two-hundred day simple moving average is $10.40. Equitrans Midstream has a 1-year low of $4.65 and a 1-year high of $13.10.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last released its 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 firm had revenue of $360.60 million for the quarter, compared to analysts' expectations of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. Equitrans Midstream's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. As a group, analysts forecast that Equitrans Midstream will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, February 22nd. TheStreet upgraded shares of Equitrans Midstream from a "d+" rating to a "c-" rating in a research report on Wednesday, December 27th. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Finally, Barclays raised their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Equitrans Midstream presently has a consensus rating of "Hold" and a consensus 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.