Equitrans Midstream (NYSE:ETRN) Downgraded by US Capital Advisors

US Capital Advisors cut shares of Equitrans Midstream (NYSE:ETRN) from an overweight rating to a hold rating in a report issued on Monday, Zacks.com reports.

Other research analysts have also issued reports about the company. Morgan Stanley cut their price target on Equitrans Midstream from $13.00 to $12.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada reiterated an outperform rating and set a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. Finally, Barclays upped their price target on Equitrans Midstream from $6.00 to $11.00 and gave the stock an equal weight rating in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $10.86.

Equitrans Midstream Trading Down 3.0 %

Shares of NYSE ETRN opened at $13.12 on Monday. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.85 and a beta of 1.97. The business has a 50 day simple moving average of $11.94 and a 200 day simple moving average of $10.57. Equitrans Midstream has a 52 week low of $4.65 and a 52 week high of $14.21. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76.

Equitrans Midstream (NYSE:ETRN) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The firm had revenue of $364.27 million during the quarter, compared to analyst estimates of $345.79 million. During the same period in the previous year, the company earned $0.22 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts predict that Equitrans Midstream will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s payout ratio is presently 67.42%.

Hedge Funds Weigh In On Equitrans Midstream

Large investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Equitrans Midstream by 125.3% during the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after acquiring an additional 287,176 shares during the period. Valueworks LLC lifted its stake in Equitrans Midstream by 14.7% in the third quarter. Valueworks LLC now owns 765,213 shares of the company’s stock valued at $7,170,000 after buying an additional 97,940 shares during the period. Qube Research & Technologies Ltd acquired a new position in Equitrans Midstream in the third quarter valued at about $2,555,000. Advisors Capital Management LLC acquired a new position in Equitrans Midstream in the third quarter valued at about $3,533,000. Finally, Deutsche Bank AG lifted its stake in Equitrans Midstream by 16.5% in the third quarter. Deutsche Bank AG now owns 234,295 shares of the company’s stock valued at $2,195,000 after buying an additional 33,134 shares during the period. Institutional investors and hedge funds own 87.35% of the company’s stock.

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.