Equitrans Midstream Sees Unusually High Options Volume (NYSE:ETRN)

Equitrans Midstream Co. (NYSE:ETRN) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 40,061 put options on the company. This is an increase of 336% compared to the average volume of 9,182 put options.

Equitrans Midstream Stock Down 1.0 %

Shares of NYSE:ETRN opened at $12.29 on Wednesday. The firm has a 50 day simple moving average of $11.33 and a 200-day simple moving average of $10.29. Equitrans Midstream has a twelve month low of $4.60 and a twelve month high of $13.06. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The company has a market capitalization of $5.36 billion, a PE ratio of 13.81, a P/E/G ratio of 1.69 and a beta of 1.97.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The firm had revenue of $360.60 million for the quarter, compared to analyst estimates of $348.04 million. During the same quarter last year, the company posted $0.13 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Equitrans Midstream will post 0.87 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Monday, February 5th. Equitrans Midstream’s dividend payout ratio is presently 67.42%.

Wall Street Analysts Forecast Growth

ETRN has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a research report on Thursday, March 7th. Barclays raised their target price on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, December 27th. Finally, Morgan Stanley lowered their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.86.

Hedge Funds Weigh In On Equitrans Midstream

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of Equitrans Midstream in the 1st quarter valued at approximately $25,000. Lazard Asset Management LLC purchased a new position in Equitrans Midstream in the second quarter worth $25,000. Chilton Capital Management LLC purchased a new position in Equitrans Midstream in the first quarter worth $33,000. Harvest Fund Management Co. Ltd acquired a new stake in Equitrans Midstream in the fourth quarter valued at $39,000. Finally, Captrust Financial Advisors boosted its position in shares of Equitrans Midstream by 50.6% during the 2nd quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock worth $42,000 after purchasing an additional 2,244 shares in the last quarter. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

Equitrans Midstream Company Profile

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.