Equitrans Midstream (ETRN) to Release Earnings on Tuesday

Equitrans Midstream (NYSE:ETRNGet Rating) is scheduled to be releasing its earnings data before the market opens on Tuesday, May 3rd. Analysts expect Equitrans Midstream to post earnings of $0.14 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Equitrans Midstream (NYSE:ETRNGet Rating) last released its quarterly earnings data on Tuesday, February 22nd. The company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.24). The firm had revenue of $246.70 million for the quarter, compared to analyst estimates of $351.62 million. Equitrans Midstream had a negative net margin of 104.82% and a positive return on equity of 6.90%. The company’s revenue was down 32.8% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. On average, analysts expect Equitrans Midstream to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of ETRN opened at $7.84 on Tuesday. The company has a market capitalization of $3.41 billion, a PE ratio of -2.35 and a beta of 2.16. Equitrans Midstream has a 12 month low of $5.87 and a 12 month high of $11.52. The stock’s 50-day moving average price is $7.71 and its two-hundred day moving average price is $9.13. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.45.

Several hedge funds have recently bought and sold shares of ETRN. NEXT Financial Group Inc increased its position in Equitrans Midstream by 1,663.0% in the 4th quarter. NEXT Financial Group Inc now owns 8,727 shares of the company’s stock valued at $90,000 after buying an additional 8,232 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in Equitrans Midstream in the 4th quarter valued at about $118,000. Forum Financial Management LP bought a new stake in Equitrans Midstream in the 4th quarter valued at about $134,000. Public Employees Retirement System of Ohio increased its position in Equitrans Midstream by 13.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 28,878 shares of the company’s stock valued at $299,000 after buying an additional 3,423 shares in the last quarter. Finally, LPL Financial LLC increased its position in Equitrans Midstream by 22.9% in the 4th quarter. LPL Financial LLC now owns 30,664 shares of the company’s stock valued at $317,000 after buying an additional 5,719 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

ETRN has been the topic of several recent research reports. The Goldman Sachs Group raised Equitrans Midstream from a “neutral” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Friday, March 4th. Barclays raised Equitrans Midstream from an “underweight” rating to an “equal weight” rating and cut their target price for the stock from $11.00 to $7.00 in a report on Wednesday, March 2nd. Wells Fargo & Company downgraded Equitrans Midstream from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $16.00 to $8.00 in a report on Thursday, February 24th. Credit Suisse Group cut their target price on Equitrans Midstream from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday, March 8th. Finally, TheStreet lowered Equitrans Midstream from a “c” rating to a “d” rating in a research report on Friday, March 4th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.54.

About Equitrans Midstream (Get Rating)

Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.

Further Reading

Earnings History for Equitrans Midstream (NYSE:ETRN)

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