Shares of Equitrans Midstream Co. (NYSE:ETRN – Get Rating) have received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $8.40.
ETRN has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised Equitrans Midstream from a “neutral” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Friday, March 4th. Zacks Investment Research downgraded Equitrans Midstream from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Credit Suisse Group dropped their target price on Equitrans Midstream from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, March 8th. US Capital Advisors upgraded Equitrans Midstream from an “underweight” rating to a “hold” rating in a research report on Friday, March 11th. Finally, TheStreet upgraded Equitrans Midstream from a “d” rating to a “c-” rating in a research report on Tuesday, May 3rd.
A number of large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new position in shares of Equitrans Midstream during the fourth quarter worth about $27,000. Confluence Wealth Services Inc. acquired a new position in shares of Equitrans Midstream during the fourth quarter worth about $27,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Equitrans Midstream during the third quarter worth about $30,000. Signaturefd LLC boosted its position in shares of Equitrans Midstream by 51.4% during the first quarter. Signaturefd LLC now owns 4,114 shares of the company’s stock worth $35,000 after buying an additional 1,397 shares during the period. Finally, UMB Bank N A MO acquired a new position in shares of Equitrans Midstream during the fourth quarter worth about $37,000. 87.74% of the stock is owned by hedge funds and other institutional investors.
Equitrans Midstream (NYSE:ETRN – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $342.15 million during the quarter, compared to analyst estimates of $380.59 million. Equitrans Midstream had a positive return on equity of 6.52% and a negative net margin of 105.69%. Equitrans Midstream’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 EPS. On average, equities research analysts predict that Equitrans Midstream will post 0.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 13th. Shareholders of record on Wednesday, May 4th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, May 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 8.30%. Equitrans Midstream’s payout ratio is -18.40%.
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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