Equitrans Midstream Co. (ETRN) To Go Ex-Dividend on May 4th

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.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Monday, February 22nd. The company reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.03). The company had revenue of $367.12 million during the quarter, compared to the consensus estimate of $380.15 million. Equitrans Midstream had a net margin of 1.40% and a return on equity of 15.27%. Equitrans Midstream’s quarterly revenue was down 13.8% on a year-over-year basis. As a group, equities analysts forecast that Equitrans Midstream will post 1.27 earnings per share for the current year.

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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Dividend History for Equitrans Midstream (NYSE:ETRN)

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