Commonwealth Equity Services LLC increased its stake in shares of Equitrans Midstream Co. (NYSE:ETRN) by 31.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 36,094 shares of the company’s stock after acquiring an additional 8,609 shares during the period. Commonwealth Equity Services LLC’s holdings in Equitrans Midstream were worth $366,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Strs Ohio increased its holdings in Equitrans Midstream by 34.8% during the 3rd quarter. Strs Ohio now owns 21,300 shares of the company’s stock valued at $215,000 after purchasing an additional 5,500 shares in the last quarter. Ellevest Inc. increased its stake in shares of Equitrans Midstream by 444.0% in the 3rd quarter. Ellevest Inc. now owns 4,738 shares of the company’s stock valued at $48,000 after buying an additional 3,867 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Equitrans Midstream during the third quarter worth $41,000. SL Advisors LLC grew its stake in shares of Equitrans Midstream by 86.6% during the third quarter. SL Advisors LLC now owns 36,277 shares of the company’s stock worth $368,000 after purchasing an additional 16,836 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Equitrans Midstream by 496.3% during the second quarter. Thrivent Financial for Lutherans now owns 646,663 shares of the company’s stock worth $5,503,000 after acquiring an additional 538,225 shares in the last quarter. 86.70% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on ETRN shares. Zacks Investment Research lowered Equitrans Midstream from a “buy” rating to a “hold” rating in a report on Wednesday, October 20th. Wells Fargo & Company raised Equitrans Midstream from an “underweight” rating to an “overweight” rating and set a $16.00 target price on the stock in a research report on Thursday, December 16th. Barclays boosted their price target on Equitrans Midstream from $9.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, October 19th. Bank of America began coverage on Equitrans Midstream in a research note on Tuesday, September 28th. They issued a “neutral” rating for the company. Finally, TheStreet upgraded Equitrans Midstream from a “d” rating to a “c” rating in a research note on Tuesday, November 2nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.25.
Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Monday, November 1st. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.04). Equitrans Midstream had a net margin of 22.93% and a return on equity of 10.61%. The firm had revenue of $342.07 million for the quarter, compared to analysts’ expectations of $251.51 million. During the same quarter last year, the firm earned $0.31 earnings per share. On average, equities analysts anticipate that Equitrans Midstream Co. will post 0.67 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Shareholders of record on Tuesday, November 2nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend was Monday, November 1st. Equitrans Midstream’s dividend payout ratio (DPR) is presently 96.77%.
Equitrans Midstream Company Profile
Equitrans Midstream Corp. has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. It focuses on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. The company operates in the following segments: Gathering, Transmission and Water.
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