Equitrans Midstream (NYSE:ETRN) Shares Up 6.4%

Equitrans Midstream Co. (NYSE:ETRNGet Rating) shares shot up 6.4% during trading on Tuesday . The company traded as high as $8.19 and last traded at $8.19. 77,390 shares traded hands during trading, a decline of 98% from the average session volume of 3,889,189 shares. The stock had previously closed at $7.70.

Analyst Ratings Changes

A number of research firms recently commented on ETRN. Bank of America lowered Equitrans Midstream from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $9.00 to $6.50 in a research note on Wednesday, September 28th. Royal Bank of Canada decreased their price objective on Equitrans Midstream from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 2nd. TheStreet lowered Equitrans Midstream from a “c-” rating to a “d” rating in a research note on Monday, September 26th. Wolfe Research lowered Equitrans Midstream from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 19th. Finally, Wells Fargo & Company decreased their price target on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, November 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.69.

Equitrans Midstream Trading Down 2.1 %

The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.67. The firm has a 50 day moving average price of $8.21 and a two-hundred day moving average price of $8.02.

Equitrans Midstream (NYSE:ETRNGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $331.75 million during the quarter, compared to analyst estimates of $364.03 million. Equitrans Midstream had a negative net margin of 153.15% and a positive return on equity of 8.31%. Sell-side analysts expect that Equitrans Midstream Co. will post 0.56 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Wednesday, November 2nd were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, November 1st. This represents a $0.60 annualized dividend and a dividend yield of 7.49%. Equitrans Midstream’s payout ratio is currently -13.19%.

Institutional Investors Weigh In On Equitrans Midstream

Several hedge funds have recently modified their holdings of the stock. Capital International Investors raised its holdings in shares of Equitrans Midstream by 5.9% during the 1st quarter. Capital International Investors now owns 49,239,507 shares of the company’s stock valued at $415,696,000 after buying an additional 2,749,573 shares during the period. BlackRock Inc. raised its holdings in shares of Equitrans Midstream by 1.0% during the 1st quarter. BlackRock Inc. now owns 47,832,584 shares of the company’s stock valued at $403,708,000 after buying an additional 451,239 shares during the period. Vanguard Group Inc. raised its holdings in shares of Equitrans Midstream by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 45,275,746 shares of the company’s stock valued at $338,662,000 after buying an additional 1,999,312 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Equitrans Midstream by 51.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,496,453 shares of the company’s stock valued at $225,757,000 after buying an additional 12,117,484 shares during the period. Finally, Zimmer Partners LP raised its holdings in shares of Equitrans Midstream by 17.7% during the 2nd quarter. Zimmer Partners LP now owns 21,942,100 shares of the company’s stock valued at $139,552,000 after buying an additional 3,294,914 shares during the period. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

About Equitrans Midstream

(Get Rating)

Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.

Further Reading

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