The equitrans Midstream said on January 24, 2023 that its board of directors declared a regular quarterly dividend of $0.15 per share ($0.60 annualized). Shareholders of record as of February 3, 2023 will receive the payment on February 14, 2023. Previously, the company paid $0.15 per share.

At the most recent share price of $7.23 / share, the stock’s dividend yield was 8.30%.

The company’s 3-Year dividend growth rate is -0.67%.

Analyst Price Forecast Suggests 19.21% Upside

As of January 30, 2023, the average one-year price target for Equitrans Midstream is $8.62. The forecasts range from a low of $7.07 to a high of $10.50. The average price target represents an increase of 19.21% from its latest reported closing price of $7.23.

The projected annual revenue for Equitrans Midstream is $1,465MM, an increase of 17.28%. The projected annual EPS is $0.52.

Fund Sentiment

There are 717 funds or institutions reporting positions in Equitrans Midstream. This is a decrease of 27 owner(s) or 3.63%.

Average portfolio weight of all funds dedicated to US:ETRN is 0.2612%, an increase of 16.5323%. Total shares owned by institutions increased in the last three months by 1.45% to 534,315K shares.

What are large shareholders doing?

Capital International Investors holds 49,137,873 shares representing 11.31% ownership of the company. In it’s prior filing, the firm reported owning 49,357,161 shares, representing a decrease of 0.45%. The firm increased its portfolio allocation in ETRN by 25.43% over the last quarter.

Price T Rowe Associates holds 41,502,504 shares representing 9.55% ownership of the company. In it’s prior filing, the firm reported owning 35,496,453 shares, representing an increase of 14.47%. The firm increased its portfolio allocation in ETRN by 78.30% over the last quarter.

TRMCX – T. Rowe Price Mid-Cap Value Fund holds 21,085,452 shares representing 4.85% ownership of the company. In it’s prior filing, the firm reported owning 17,727,612 shares, representing an increase of 15.92%. The firm increased its portfolio allocation in ETRN by 52.95% over the last quarter.

CAIBX – CAPITAL INCOME BUILDER holds 18,872,981 shares representing 4.34% ownership of the company. No change in the last quarter.

Brookfield Asset Management holds 13,312,554 shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 10,618,778 shares, representing an increase of 20.23%. The firm increased its portfolio allocation in ETRN by 23.10% over the last quarter.

Equitrans Midstream Background Information
(This description is provided by the company.)

Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located assets in the Marcellus and Utica regions, ETRN has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America’s growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.

This article originally appeared on Fintel

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