Capital Group International Inc. CA Reduces Stock Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Capital Group International Inc. CA decreased its position in Equitrans Midstream Co. (NYSE:ETRNGet Rating) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,165,743 shares of the company’s stock after selling 70,857 shares during the period. Capital Group International Inc. CA owned about 0.73% of Equitrans Midstream worth $26,719,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Truist Financial Corp purchased a new position in Equitrans Midstream in the first quarter valued at approximately $110,000. Goldman Sachs Group Inc. raised its holdings in Equitrans Midstream by 38.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,226,938 shares of the company’s stock valued at $33,366,000 after acquiring an additional 891,419 shares during the period. MetLife Investment Management LLC raised its holdings in Equitrans Midstream by 40.0% during the 1st quarter. MetLife Investment Management LLC now owns 467,897 shares of the company’s stock valued at $3,949,000 after acquiring an additional 133,631 shares during the period. Energy Income Partners LLC increased its holdings in shares of Equitrans Midstream by 0.7% in the fourth quarter. Energy Income Partners LLC now owns 1,377,364 shares of the company’s stock worth $14,242,000 after purchasing an additional 9,350 shares during the period. Finally, SIR Capital Management L.P. bought a new position in shares of Equitrans Midstream in the fourth quarter worth $5,981,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Equitrans Midstream Price Performance

Shares of ETRN opened at $9.61 on Thursday. Equitrans Midstream Co. has a twelve month low of $5.87 and a twelve month high of $11.52. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 3.36. The firm has a 50 day moving average of $8.47 and a 200 day moving average of $7.92. The company has a market capitalization of $4.16 billion, a P/E ratio of -3.02, a price-to-earnings-growth ratio of 6.64 and a beta of 1.95.

Equitrans Midstream (NYSE:ETRNGet Rating) last issued its earnings results on Tuesday, August 2nd. The company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. 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 last year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Equitrans Midstream Co. will post 0.55 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Wednesday, August 3rd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.24%. The ex-dividend date was Tuesday, August 2nd. Equitrans Midstream’s dividend payout ratio is currently -18.87%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays reduced their target price on Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 20th. US Capital Advisors restated a “hold” rating on shares of Equitrans Midstream in a report on Wednesday, June 1st. Royal Bank of Canada raised their price objective on shares of Equitrans Midstream from $9.00 to $10.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 3rd. Morgan Stanley decreased their target price on shares of Equitrans Midstream from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Wednesday, July 20th. Finally, Wells Fargo & Company raised shares of Equitrans Midstream from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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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