Equitrans Midstream: Count On The Dividends, Not The Government

Summary

• Equitrans Midstream has not enjoyed 2022 thus far with their MVP project facing legal setbacks early in the year.
• Subsequently, they have seen a weak start to the year within their cash flow performance but thankfully, the second half appears promising with their guidance being lifted.
• Whilst there was hope that a Senate bill would provide a quick fix for their MVP project, alas this was not forthcoming.
• Despite being disappointing, thankfully everything is moving in favorably for their dividends.
• Since their dividends appear to be getting safer, I believe that maintaining my strong buy rating is still appropriate.

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Introduction

Whilst the continued setbacks faced by the Mountain Valley Pipeline project earlier in 2022, hereon referred to as the MVP project, were far from over for Equitrans Midstream (ETRN), the first quarter nevertheless saw me doubling down

Analyst’s Disclosure:I/we have a beneficial long position in the shares of ETRN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.