Equitrans Midstream Co. (NYSE:ETRN) Given Consensus Recommendation of “Hold” by Brokerages

Equitrans Midstream Co. (NYSE:ETRN – Get Rating) has received an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $7.69.

Several equities research analysts have recently weighed in on ETRN shares. Wells Fargo & Company downgraded shares of Equitrans Midstream from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $12.00 to $8.00 in a research note on Friday, December 16th. Barclays lowered their target price on shares of Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 18th. The Goldman Sachs Group lowered shares of Equitrans Midstream from a “buy” rating to a “sell” rating and lowered their target price for the company from $9.50 to $6.00 in a research note on Tuesday, January 31st. Finally, Citigroup started coverage on shares of Equitrans Midstream in a research note on Thursday, December 8th. They set a “neutral” rating and a $8.00 target price for the company.

Hedge Funds Weigh In On Equitrans Midstream

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP boosted its position in Equitrans Midstream by 198.4% in the 3rd quarter. Allworth Financial LP now owns 3,638 shares of the company’s stock worth $27,000 after purchasing an additional 2,419 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Equitrans Midstream in the 2nd quarter worth approximately $32,000. Chilton Capital Management LLC purchased a new stake in Equitrans Midstream in the 2nd quarter worth approximately $36,000. Captrust Financial Advisors boosted its position in Equitrans Midstream by 50.6% in the 2nd quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock worth $42,000 after purchasing an additional 2,244 shares in the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new stake in Equitrans Midstream in the 3rd quarter worth approximately $49,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

Equitrans Midstream Trading Up 1.6 %

Equitrans Midstream stock opened at $6.27 on Monday. The stock has a market cap of $2.72 billion, a P/E ratio of -8.71, a PEG ratio of 4.98 and a beta of 1.96. The company has a debt-to-equity ratio of 4.91, a current ratio of 0.94 and a quick ratio of 0.94. Equitrans Midstream has a 1 year low of $5.90 and a 1 year high of $9.90. The firm’s 50 day moving average price is $6.80 and its 200-day moving average price is $7.75.

Equitrans Midstream (NYSE:ETRN – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The company reported $0.13 earnings per share for the quarter, hitting the consensus estimate of $0.13. Equitrans Midstream had a negative net margin of 18.77% and a positive return on equity of 14.20%. The company had revenue of $355.24 million for the quarter, compared to analysts’ expectations of $336.26 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Equitrans Midstream’s quarterly revenue was up 44.0% on a year-over-year basis. On average, equities analysts predict that Equitrans Midstream will post 0.49 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, February 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.60 annualized dividend and a yield of 9.57%. Equitrans Midstream’s dividend payout ratio (DPR) is presently -83.33%.

About Equitrans Midstream

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Equitrans Midstream Corp. has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. It focuses on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. The company operates through the following segments: Gathering, Transmission and Water.