Wells Fargo & Company Increases Equitrans Midstream (NYSE:ETRN) Price Target to $13.00

Equitrans Midstream (NYSE:ETRN) had its price target raised by Wells Fargo & Company from $12.00 to $13.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 4.83% from the stock’s previous close.

Several other research analysts have also commented on ETRN. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Morgan Stanley cut their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Finally, Barclays upped their target price on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. 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 to the stock. According to data from MarketBeat.com, Equitrans Midstream has a consensus rating of “Hold” and an average target price of $11.19.

Equitrans Midstream Trading Up 1.6 %

Shares of Equitrans Midstream stock traded up $0.22 during trading on Thursday, reaching $13.66. The company’s stock had a trading volume of 4,280,023 shares, compared to its average volume of 6,202,465. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.82 and a beta of 1.93. The firm’s 50-day moving average is $12.06 and its two-hundred day moving average is $10.62. Equitrans Midstream has a 52-week low of $4.65 and a 52-week high of $14.21. The company has a quick ratio of 0.76, a current ratio of 0.63 and a debt-to-equity ratio of 4.88.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $345.79 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Equitrans Midstream will post 0.86 earnings per share for the current year.

Institutional Investors Weigh In On Equitrans Midstream

A number of hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new position in Equitrans Midstream in the first quarter valued at about $25,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Equitrans Midstream during the 4th quarter valued at about $39,000. AlphaMark Advisors LLC lifted its stake in shares of Equitrans Midstream by 66.2% in the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after purchasing an additional 2,250 shares during the period. Mather Group LLC. bought a new position in shares of Equitrans Midstream in the 1st quarter worth approximately $54,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Equitrans Midstream in the third quarter worth approximately $55,000. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

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.