Brokerages Set Equitrans Midstream Co. (NYSE:ETRN) Target Price at $11.19

Shares of Equitrans Midstream Co. (NYSE:ETRN) have earned a consensus rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.19.

ETRN has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Barclays lifted their target price on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Equitrans Midstream in a research report on Thursday, March 7th. Finally, Morgan Stanley decreased their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd.

Institutional Trading of Equitrans Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of ETRN. Metis Global Partners LLC grew its position in shares of Equitrans Midstream by 8.0% during the fourth quarter. Metis Global Partners LLC now owns 16,868 shares of the company’s stock valued at $172,000 after purchasing an additional 1,247 shares in the last quarter. Retirement Systems of Alabama grew its holdings in Equitrans Midstream by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 544,067 shares of the company’s stock valued at $6,795,000 after buying an additional 1,430 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Equitrans Midstream by 25.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 7,187 shares of the company’s stock worth $90,000 after acquiring an additional 1,471 shares during the last quarter. Donoghue Forlines LLC raised its holdings in shares of Equitrans Midstream by 3.9% during the 4th quarter. Donoghue Forlines LLC now owns 43,216 shares of the company’s stock worth $440,000 after acquiring an additional 1,626 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Equitrans Midstream by 5.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock valued at $312,000 after acquiring an additional 1,635 shares during the last quarter. 87.35% of the stock is currently owned by institutional investors.

Equitrans Midstream Stock Performance

Shares of ETRN opened at $13.33 on Friday. Equitrans Midstream has a one year low of $5.06 and a one year high of $14.21. The business has a fifty day moving average of $12.19 and a 200 day moving average of $10.70. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $5.78 billion, a P/E ratio of 14.82, a PEG ratio of 1.85 and a beta of 1.93.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The firm had revenue of $364.27 million during the quarter, compared to analyst estimates of $345.79 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Equitrans Midstream will post 0.86 EPS for the current year.

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.50%. Equitrans Midstream’s dividend payout ratio is 66.67%.

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.