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Oil and gas pipeline firm Equitrans Midstream said on Tuesday it has entered into a consent agreement with the U.S. pipeline regulator for the Mountain Valley Pipeline (MVP) project.
Investors with an interest in Oil and Gas - Integrated - United States stocks have likely encountered both Marathon Oil (MRO) and Equitrans Midstream (ETRN). But which of these two stocks is more attractive to value investors?
During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.
Equitrans Midstream said on Thursday CEO Thomas Karam will step down from his role at the end of the year to become the pipeline operator's executive chairman.
AT&T expects its free cash flow to improve, putting its big dividend on a firmer foundation. Equitrans Midstream is finally nearing the completion of a needle-moving expansion project, giving it more fuel to support its dividend.
The completion of the long-delayed MVP presents a significant opportunity for ETRN, but there are potential risks and cost overruns associated with the project. Equitrans' stock already reflects the anticipated benefits of the Mountain Valley Pipeline coming online. Given the run in ETRN stock, I'd remain on the sidelines.
If the MVP comes to fruition, Equitrans Midstream's EBITDA profile could get a 20% uplift. ETRN's volatility quotient has ramped up in recent months, and we think this could remain a dominant theme much through this year. ETRN's FCF has traditionally covered the flattish dividend bill by around 2.7x, and the presence of a large chunk of stable firm reservation fees helps bring a degree of stability.
The headline numbers for Equitrans Midstream (ETRN) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Equitrans Midstream (ETRN) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.11 per share a year ago.
Equitrans Midstream (ETRN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.