Equitrans Midstream (NASDAQ:ETRN) announced a quarterly dividend on Thursday, July 23rd, Wall Street Journal reports. Stockholders of record on Tuesday, August 4th will be given a dividend of 0.15 per share on Thursday, August 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.22%. The ex-dividend date is Monday, August 3rd.
Equitrans Midstream has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings.
ETRN opened at $9.65 on Friday. The firm has a 50-day moving average of $9.05 and a 200 day moving average of $8.29. Equitrans Midstream has a fifty-two week low of $3.75 and a fifty-two week high of $17.18.
In other news, CEO Thomas F. Karam purchased 45,000 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was purchased at an average price of $8.11 per share, with a total value of $364,950.00.
A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Equitrans Midstream from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. initiated coverage on Equitrans Midstream in a research note on Tuesday, July 14th. They issued a “neutral” rating and a $11.00 target price on the stock. BidaskClub downgraded Equitrans Midstream from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, Wells Fargo & Co raised Equitrans Midstream from an “underweight” rating to an “overweight” rating and lifted their price objective for the stock from $6.00 to $11.00 in a report on Monday, April 27th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $11.71.
About Equitrans Midstream
Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.
Recommended Story: Why is cost of goods sold important?
Receive News & Ratings for Equitrans Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equitrans Midstream and related companies with MarketBeat.com's FREE daily email newsletter.