5 Energy Dividend Stocks with Over 4% Yield

2. Equitrans Midstream Corporation (NYSE:ETRN)

Number of Hedge Fund Holders: 17

Dividend Yield as of April 20: 7.13%

Equitrans Midstream Corporation (NYSE:ETRN) was incorporated in 2018 and is headquartered in Canonsburg, Pennsylvania. The company specializes in natural gas gathering, transmission and storage, and water services in the Appalachian Basin. Equitrans Midstream Corporation (NYSE:ETRN)’s dividend yield on April 20 was 7.13%. 

On March 3, Goldman Sachs analyst John Mackay upgraded Equitrans Midstream Corporation (NYSE:ETRN) to Buy from Neutral with a price target of $9. The analyst stated that the risks to the Mountain Valley Pipeline (MVP) are “essentially fully-priced”. While the MVP will likely continue to generate mixed headlines for Equitrans Midstream Corporation (NYSE:ETRN) until it is concluded or cancelled, the risk-reward favors a bullish stance, he added. 

Equitrans Midstream Corporation (NYSE:ETRN) declared on January 24 a $0.15 per share quarterly dividend. The dividend was distributed on February 14, to shareholders of the company on February 3. 

According to Insider Monkey’s Q4 data, 17 hedge funds were bullish on Equitrans Midstream Corporation (NYSE:ETRN), with collective stakes amounting to $117.2 million. Michael Lowenstein’s Kensico Capital is the leading position holder in the company, with more than 3 million shares worth $32.5 million. 

Here is what Miller Howard Investments has to say about Equitrans Midstream Corporation (NYSE:ETRN) in its Q3 2021 investor letter:

“Our best holdings for the quarter were companies poised to benefit from the recovery. Equitrans Midstream (ETRN), our third largest contributor, could see higher volumes on its pipelines given the recovery in natural gas prices.”