Equitrans Midstream Co. (NYSE:ETRN – Get Free Report) declared a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Shareholders of record on Tuesday, May 7th will be paid a dividend of 0.15 per share on Wednesday, May 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend is Monday, May 6th.
Equitrans Midstream has decreased its dividend by an average of 12.6% annually over the last three years. Equitrans Midstream has a payout ratio of 53.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Performance
NYSE ETRN opened at $12.89 on Wednesday. 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 firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.71 and a beta of 1.97. The firm’s 50 day simple moving average is $11.57 and its 200 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.
Analysts Set New Price Targets
Several research firms recently issued reports on ETRN. 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 reiterated an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research report on Thursday, March 7th. Morgan Stanley dropped their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Finally, Barclays increased 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 note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.86.
Check Out Our Latest Analysis on ETRN
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.
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