Tortoise Capital Advisors L.L.C. decreased its position in shares of Equitrans Midstream (NASDAQ:ETRN) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,420,069 shares of the company’s stock after selling 209,165 shares during the period. Equitrans Midstream comprises 0.8% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 25th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 2.52% of Equitrans Midstream worth $126,540,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ETRN. Steward Partners Investment Advisory LLC acquired a new stake in shares of Equitrans Midstream during the 2nd quarter worth approximately $25,000. Marshall Wace North America L.P. acquired a new stake in Equitrans Midstream in the first quarter valued at approximately $72,000. Machina Capital S.A.S. acquired a new stake in Equitrans Midstream in the second quarter valued at approximately $80,000. BNP Paribas Arbitrage SA acquired a new stake in Equitrans Midstream in the second quarter valued at approximately $104,000. Finally, Bank of Montreal Can acquired a new stake in Equitrans Midstream in the first quarter valued at approximately $179,000.
A number of brokerages have weighed in on ETRN. Royal Bank of Canada set a $19.00 target price on shares of Equitrans Midstream and gave the company a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research lowered shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. UBS Group began coverage on shares of Equitrans Midstream in a research report on Tuesday, August 6th. They issued a “neutral” rating and a $15.00 target price on the stock. Finally, Bank of America began coverage on shares of Equitrans Midstream in a research report on Monday, June 17th. They issued a “neutral” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Equitrans Midstream presently has an average rating of “Hold” and an average price target of $22.11.
In other Equitrans Midstream news, CFO Kirk R. Oliver purchased 13,700 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $16.10 per share, with a total value of $220,570.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Margaret K. Dorman purchased 7,750 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $16.11 per share, with a total value of $124,852.50. The disclosure for this purchase can be found here. Insiders have bought 121,450 shares of company stock valued at $1,956,423 in the last ninety days.
Equitrans Midstream stock traded up $0.12 during mid-day trading on Friday, reaching $13.64. The company had a trading volume of 2,357,177 shares, compared to its average volume of 2,191,068. Equitrans Midstream has a fifty-two week low of $12.31 and a fifty-two week high of $23.47. The business has a fifty day simple moving average of $13.82 and a 200 day simple moving average of $18.53.
Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The business had revenue of $406.17 million for the quarter, compared to the consensus estimate of $413.30 million.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 13.20%. The ex-dividend date was Monday, August 12th.
Equitrans Midstream Company Profile
Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.
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