Equitrans Midstream Co. (NYSE:ETRN) Receives Consensus Rating of “Hold” from Brokerages

Equitrans Midstream Co. (NYSE:ETRN) has earned an average rating of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $13.10.

Several research firms have issued reports on ETRN. US Capital Advisors cut Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Barclays lifted 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. Wells Fargo & Company lifted their price objective 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 objective 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 reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th.

Institutional Trading of Equitrans Midstream

Institutional investors have recently bought and sold shares of the business. Trexquant Investment LP purchased a new stake in Equitrans Midstream during the 4th quarter worth about $573,000. Dimensional Fund Advisors LP lifted its holdings in shares of 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 purchasing an additional 260,924 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,758,270 shares during the last quarter. Levin Capital Strategies L.P. purchased a new stake in shares of Equitrans Midstream in the 4th quarter valued at about $204,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Equitrans Midstream by 125.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after purchasing an additional 287,176 shares during the last quarter. 87.35% of the stock is owned by hedge funds and other institutional investors.

Equitrans Midstream Price Performance

ETRN stock opened at $12.98 on Friday. The business has a fifty day moving average of $13.61 and a two-hundred day moving average of $11.78. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 11.31 and a beta of 1.98. Equitrans Midstream has a 52-week low of $8.44 and a 52-week high of $14.64.

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

Equitrans Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is 66.67%.

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.