Equitrans Midstream (NYSE:ETRN) Raised to C- at TheStreet

Equitrans Midstream (NYSE:ETRNGet Rating) was upgraded by research analysts at TheStreet from a “d” rating to a “c-” rating in a report released on Tuesday, TheStreetRatingsTable reports.

Several other research firms have also commented on ETRN. The Goldman Sachs Group raised shares of 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. US Capital Advisors raised Equitrans Midstream from an “underweight” rating to a “hold” rating in a report on Friday, March 11th. Zacks Investment Research downgraded Equitrans Midstream from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. UBS Group lowered shares of Equitrans Midstream from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $9.00 in a research report on Tuesday, February 1st. Finally, Wells Fargo & Company downgraded shares of Equitrans Midstream from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $16.00 to $8.00 in a research note on Thursday, February 24th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.54.

Shares of ETRN stock opened at $8.23 on Tuesday. Equitrans Midstream has a fifty-two week low of $5.87 and a fifty-two week high of $11.52. The company has a debt-to-equity ratio of 3.45, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s fifty day moving average price is $7.87 and its two-hundred day moving average price is $8.98. The company has a market cap of $3.57 billion, a PE ratio of -2.52 and a beta of 2.03.

Equitrans Midstream (NYSE:ETRNGet Rating) last released its earnings results on Tuesday, May 3rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). Equitrans Midstream had a negative net margin of 104.82% and a positive return on equity of 6.90%. The company had revenue of $342.15 million for the quarter, compared to analyst estimates of $380.59 million. During the same quarter in the previous year, the firm earned $0.19 EPS. The firm’s revenue was down 10.0% on a year-over-year basis. On average, equities analysts predict that Equitrans Midstream will post 0.55 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its stake in shares of Equitrans Midstream by 118.4% in the third quarter. State Board of Administration of Florida Retirement System now owns 353,459 shares of the company’s stock valued at $3,584,000 after buying an additional 191,634 shares during the period. AGF Investments LLC grew its holdings in Equitrans Midstream by 7.4% during the fourth quarter. AGF Investments LLC now owns 76,340 shares of the company’s stock valued at $789,000 after purchasing an additional 5,292 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Equitrans Midstream by 9.1% in the third quarter. Guggenheim Capital LLC now owns 230,612 shares of the company’s stock worth $2,338,000 after acquiring an additional 19,277 shares during the period. Jennison Associates LLC increased its holdings in Equitrans Midstream by 131.0% during the 4th quarter. Jennison Associates LLC now owns 2,164,164 shares of the company’s stock worth $22,377,000 after acquiring an additional 1,227,175 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its stake in Equitrans Midstream by 39.3% in the third quarter. Ontario Teachers Pension Plan Board now owns 101,309 shares of the company’s stock valued at $1,027,000 after acquiring an additional 28,559 shares during the last quarter. 87.74% of the stock is currently owned by hedge funds and other institutional investors.

Equitrans Midstream Company Profile (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.

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