American International Group Inc. Sells 25,971 Shares of Equitrans Midstream Co. (NYSE:ETRN)

American International Group Inc. trimmed its position in Equitrans Midstream Co. (NYSE:ETRN) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 798,955 shares of the company’s stock after selling 25,971 shares during the quarter. American International Group Inc.’s holdings in Equitrans Midstream were worth $8,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Equitrans Midstream by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock valued at $440,746,000 after buying an additional 1,572,136 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Equitrans Midstream by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,740,820 shares of the company’s stock valued at $88,982,000 after buying an additional 260,924 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Equitrans Midstream by 28.5% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company’s stock valued at $80,741,000 after buying an additional 1,758,270 shares in the last quarter. Blackstone Inc. increased its position in Equitrans Midstream by 18.8% in the 3rd quarter. Blackstone Inc. now owns 7,573,498 shares of the company’s stock valued at $70,964,000 after buying an additional 1,197,991 shares in the last quarter. Finally, Norges Bank bought a new stake in Equitrans Midstream in the 4th quarter valued at about $50,093,000. 87.35% of the stock is owned by institutional investors.

Equitrans Midstream Price Performance

Shares of NYSE ETRN opened at $13.37 on Thursday. Equitrans Midstream Co. has a twelve month low of $8.44 and a twelve month high of $14.64. The stock’s 50 day moving average price is $13.58 and its 200-day moving average price is $11.74. The company has a market capitalization of $5.80 billion, a PE ratio of 14.86, a PEG ratio of 11.55 and a beta of 1.98. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88.

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

Equitrans Midstream Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on ETRN shares. Barclays lifted their price target 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 downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their price target on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Morgan Stanley lifted their price target on Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.10.

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.