Zacks: Analysts Expect Equitrans Midstream Co. (NYSE:ETRN) to Announce $0.32 Earnings Per Share


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Equities analysts expect Equitrans Midstream Co. (NYSE:ETRN) to post earnings of $0.32 per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Equitrans Midstream’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.25. Equitrans Midstream posted earnings per share of $1.24 in the same quarter last year, which would suggest a negative year-over-year growth rate of 74.2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, February 25th.

On average, analysts expect that Equitrans Midstream will report full year earnings of $1.28 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.37. For the next year, analysts expect that the company will post earnings of $1.09 per share, with EPS estimates ranging from $1.00 to $1.18. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Equitrans Midstream.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $350.00 million during the quarter, compared to analyst estimates of $349.23 million. Equitrans Midstream had a return on equity of 15.27% and a net margin of 1.40%.

A number of brokerages have weighed in on ETRN. BidaskClub downgraded shares of Equitrans Midstream from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 14th. ValuEngine raised Equitrans Midstream from a “strong sell” rating to a “sell” rating in a research report on Friday, December 11th. Credit Suisse Group dropped their target price on Equitrans Midstream from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, November 12th. Zacks Investment Research downgraded Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Saturday, November 21st. Finally, Bank of America upgraded shares of Equitrans Midstream from an “underperform” rating to a “neutral” rating in a research note on Wednesday, November 18th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $11.32.

NYSE:ETRN traded up $0.05 during mid-day trading on Wednesday, hitting $8.47. 3,389,151 shares of the company’s stock were exchanged, compared to its average volume of 6,002,229. Equitrans Midstream has a one year low of $3.75 and a one year high of $13.57. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.79 and a quick ratio of 0.79. The business has a fifty day moving average price of $8.09 and a 200 day moving average price of $8.00. The company has a market cap of $3.66 billion, a PE ratio of -26.47 and a beta of 2.24.

Several institutional investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC bought a new stake in Equitrans Midstream in the third quarter worth about $1,175,000. Nuveen Asset Management LLC increased its position in Equitrans Midstream by 79.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,032,084 shares of the company’s stock valued at $8,576,000 after purchasing an additional 455,603 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Equitrans Midstream in the 3rd quarter valued at about $252,000. M&T Bank Corp raised its holdings in shares of Equitrans Midstream by 70.9% in the 3rd quarter. M&T Bank Corp now owns 18,758 shares of the company’s stock valued at $158,000 after purchasing an additional 7,785 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Equitrans Midstream by 37.7% in the 3rd quarter. Victory Capital Management Inc. now owns 46,063 shares of the company’s stock worth $390,000 after purchasing an additional 12,617 shares during the period. 86.11% of the stock is currently owned by institutional investors.

About Equitrans Midstream

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, Transmission, and Water. The Gathering System segment include 990 miles of high-pressure gathering lines with compression of approximately 445,000 horsepower and multiple interconnect points; and approximately 920 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.

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Earnings History and Estimates for Equitrans Midstream (NYSE:ETRN)

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