Goldman Sachs Group Inc. Buys 1,151,348 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Goldman Sachs Group Inc. increased its stake in Equitrans Midstream Co. (NYSE:ETRN) by 28.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,251,814 shares of the company’s stock after purchasing an additional 1,151,348 shares during the quarter. Goldman Sachs Group Inc. owned 1.20% of Equitrans Midstream worth $53,463,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new stake in shares of Equitrans Midstream during the 4th quarter valued at about $39,000. DekaBank Deutsche Girozentrale purchased a new stake in Equitrans Midstream during the third quarter valued at approximately $55,000. Operose Advisors LLC bought a new position in Equitrans Midstream in the third quarter worth approximately $56,000. Hexagon Capital Partners LLC boosted its stake in shares of Equitrans Midstream by 185.8% during the 4th quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock worth $58,000 after acquiring an additional 3,716 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Equitrans Midstream during the 4th quarter valued at $101,000. Institutional investors own 87.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ETRN. Wells Fargo & Company raised their target price on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Barclays boosted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. US Capital Advisors cut shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Morgan Stanley upped their price target on shares of Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Equitrans Midstream currently has a consensus rating of “Hold” and a consensus target price of $13.10.

Equitrans Midstream Stock Down 0.9 %

NYSE ETRN opened at $13.37 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. Equitrans Midstream Co. has a 12 month low of $8.44 and a 12 month high of $14.64. The stock’s 50 day moving average is $13.58 and its 200 day moving average is $11.74. The stock has a market cap of $5.80 billion, a PE ratio of 14.85, a P/E/G ratio of 11.80 and a beta of 1.98.

Equitrans Midstream (NYSE:ETRN) last released its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Research analysts predict that Equitrans Midstream Co. will post 0.78 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.49%. Equitrans Midstream’s payout ratio is 66.67%.

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.