Equitrans Midstream Co. (NYSE:ETRN) Position Reduced by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of Equitrans Midstream Co. (NYSE:ETRNGet Rating) by 31.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,616 shares of the company’s stock after selling 246,530 shares during the period. PNC Financial Services Group Inc. owned 0.12% of Equitrans Midstream worth $4,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital International Investors raised its holdings in Equitrans Midstream by 2.3% during the fourth quarter. Capital International Investors now owns 46,489,934 shares of the company’s stock worth $480,467,000 after purchasing an additional 1,051,375 shares in the last quarter. State Street Corp raised its holdings in Equitrans Midstream by 1.3% during the fourth quarter. State Street Corp now owns 13,515,312 shares of the company’s stock worth $139,748,000 after purchasing an additional 171,312 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Equitrans Midstream by 15.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,438,528 shares of the company’s stock worth $87,248,000 after purchasing an additional 1,147,587 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Equitrans Midstream by 29.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,498,919 shares of the company’s stock worth $77,538,000 after purchasing an additional 1,695,797 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Equitrans Midstream by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 7,010,489 shares of the company’s stock worth $72,488,000 after purchasing an additional 63,879 shares in the last quarter. Institutional investors own 92.41% of the company’s stock.

Equitrans Midstream Trading Up 1.1 %

NYSE ETRN opened at $9.14 on Friday. The firm’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $7.76. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.30 and a current ratio of 1.30. Equitrans Midstream Co. has a twelve month low of $5.87 and a twelve month high of $11.52. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of -2.87, a PEG ratio of 6.64 and a beta of 2.07.

Equitrans Midstream (NYSE:ETRNGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). Equitrans Midstream had a negative net margin of 104.75% and a positive return on equity of 7.19%. The company had revenue of $328.61 million for the quarter, compared to analysts’ expectations of $338.79 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The company’s revenue was down 5.7% on a year-over-year basis. Equities analysts anticipate that Equitrans Midstream Co. will post 0.55 EPS for the current year.

Equitrans Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Wednesday, August 3rd were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.56%. The ex-dividend date of this dividend was Tuesday, August 2nd. Equitrans Midstream’s dividend payout ratio is currently -18.87%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ETRN. Royal Bank of Canada upped their price target on Equitrans Midstream from $9.00 to $10.00 and gave the company a “sector perform” rating in a report on Wednesday, August 3rd. Morgan Stanley dropped their price target on Equitrans Midstream from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, July 20th. US Capital Advisors reaffirmed a “hold” rating on shares of Equitrans Midstream in a report on Wednesday, June 1st. Barclays dropped their price target on Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 20th. Finally, Wells Fargo & Company raised Equitrans Midstream from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.29.

Equitrans Midstream Company Profile

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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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Institutional Ownership by Quarter for Equitrans Midstream (NYSE:ETRN)

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