Nisa Investment Advisors LLC Acquires 14,000 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Nisa Investment Advisors LLC boosted its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 48.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,670 shares of the company’s stock after purchasing an additional 14,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Equitrans Midstream were worth $434,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in Equitrans Midstream during the 2nd quarter valued at about $25,000. Comerica Bank purchased a new stake in Equitrans Midstream during the 2nd quarter valued at about $410,000. Chilton Capital Management LLC purchased a new stake in Equitrans Midstream during the 1st quarter valued at about $33,000. AlphaMark Advisors LLC grew its position in Equitrans Midstream by 66.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock valued at $53,000 after purchasing an additional 2,250 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Equitrans Midstream during the 3rd quarter valued at about $55,000. 87.35% of the stock is owned by hedge funds and other institutional investors.

Equitrans Midstream Stock Performance

ETRN opened at $12.28 on Thursday. 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 cap of $5.35 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.65 and a beta of 1.97. The company’s 50 day moving average is $11.37 and its 200 day moving average is $10.30. Equitrans Midstream Co. has a 12-month low of $4.60 and a 12-month high of $13.06.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings data 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. The company had revenue of $360.60 million for the quarter, compared to the consensus estimate of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities research analysts predict that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date was Monday, February 5th. Equitrans Midstream’s payout ratio is 67.42%.

Wall Street Analysts Forecast Growth

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

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.