Equitrans Midstream Co. (NYSE:ETRN) announced a quarterly dividend on Wednesday, April 28th, Wall Street Journal reports. Investors of record on Wednesday, May 5th will be paid a dividend of 0.15 per share on Friday, May 14th. This represents a $0.60 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Tuesday, May 4th.
Equitrans Midstream has a payout ratio of 69.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Equitrans Midstream to earn $1.09 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 55.0%.
Shares of NYSE:ETRN opened at $8.16 on Friday. The company has a market capitalization of $3.54 billion, a P/E ratio of -25.50 and a beta of 2.23. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.79 and a current ratio of 0.79. Equitrans Midstream has a 52-week low of $6.23 and a 52-week high of $11.66. The company has a 50-day simple moving average of $8.11 and a 200 day simple moving average of $7.97.
ETRN has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Equitrans Midstream from $4.00 to $6.00 and gave the company an “underweight” rating in a report on Monday, March 29th. Barclays cut shares of Equitrans Midstream from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $9.00 to $7.00 in a report on Thursday, February 11th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $10.18.
About Equitrans Midstream
Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.
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