Equitrans Midstream (NYSE:ETRN) Shares Up 3.6%

Equitrans Midstream Co. (NYSE:ETRN)’s share price rose 3.6% during trading on Wednesday . The company traded as high as $13.47 and last traded at $13.35. Approximately 4,145,705 shares were traded during trading, a decline of 34% from the average daily volume of 6,313,222 shares. The stock had previously closed at $12.89.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ETRN shares. Barclays upped their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Morgan Stanley reduced their price target on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $10.86.

Equitrans Midstream Price Performance

The company has a market cap of $6.00 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.79 and a beta of 1.97. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50 day moving average of $11.77 and a 200-day moving average of $10.48.

Equitrans Midstream (NYSE:ETRN) last issued its earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. The company had revenue of $360.60 million during the quarter, compared to analyst estimates of $348.04 million. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Equities analysts predict that Equitrans Midstream Co. will post 0.87 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.36%. Equitrans Midstream’s payout ratio is currently 67.42%.

Hedge Funds Weigh In On Equitrans Midstream

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Equitrans Midstream by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock worth $440,746,000 after buying an additional 1,572,136 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 worth $88,982,000 after buying an additional 260,924 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings 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 worth $80,741,000 after buying an additional 1,758,270 shares during the last quarter. Blackstone Inc. boosted its holdings in Equitrans Midstream by 18.8% in the 3rd quarter. Blackstone Inc. now owns 7,573,498 shares of the company’s stock worth $70,964,000 after buying an additional 1,197,991 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Equitrans Midstream by 28.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,251,814 shares of the company’s stock worth $53,463,000 after buying an additional 1,151,348 shares during the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.

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.