BlackRock Inc. Decreases Holdings in Equitrans Midstream Co. (NYSE:ETRN)

BlackRock Inc. reduced its position in Equitrans Midstream Co. (NYSE:ETRN – Get Rating) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,954,664 shares of the company’s stock after selling 220,603 shares during the quarter. BlackRock Inc. owned about 11.27% of Equitrans Midstream worth $366,180,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Macquarie Group Ltd. grew its stake in Equitrans Midstream by 2,453.3% during the 3rd quarter. Macquarie Group Ltd. now owns 141,019 shares of the company’s stock worth $1,079,000 after buying an additional 135,496 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Equitrans Midstream by 1,268.5% during the third quarter. Cubist Systematic Strategies LLC now owns 456,758 shares of the company’s stock worth $3,417,000 after acquiring an additional 423,381 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Equitrans Midstream during the third quarter valued at about $703,000. MML Investors Services LLC increased its holdings in shares of Equitrans Midstream by 9.0% during the third quarter. MML Investors Services LLC now owns 17,360 shares of the company’s stock valued at $130,000 after acquiring an additional 1,437 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Equitrans Midstream by 222.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 168,200 shares of the company’s stock worth $1,258,000 after purchasing an additional 116,100 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. The Goldman Sachs Group lowered shares of Equitrans Midstream from a “buy” rating to a “sell” rating and cut their price target for the company from $9.50 to $6.00 in a research note on Tuesday, January 31st. Wells Fargo & Company downgraded shares of Equitrans Midstream from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $12.00 to $8.00 in a report on Friday, December 16th. Citigroup assumed 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 on the stock. Finally, Barclays reduced their price target on Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Wednesday, January 18th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, Equitrans Midstream presently has a consensus rating of “Hold” and a consensus price target of $7.50.

Equitrans Midstream Trading Down 4.3 %

ETRN stock opened at $5.81 on Friday. Equitrans Midstream Co. has a 12-month low of $5.80 and a 12-month high of $9.90. The business’s 50-day moving average is $6.74 and its 200 day moving average is $7.67. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 4.91. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -8.07, a PEG ratio of 5.06 and a beta of 1.96.

Equitrans Midstream (NYSE:ETRN – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The company reported $0.13 EPS for the quarter, hitting the consensus estimate of $0.13. Equitrans Midstream had a positive return on equity of 14.20% and a negative net margin of 18.77%. The firm had revenue of $355.24 million during the quarter, compared to analysts’ expectations of $336.26 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 44.0% on a year-over-year basis. On average, sell-side analysts anticipate that Equitrans Midstream Co. will post 0.46 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, February 6th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, February 3rd. This represents a $0.60 annualized dividend and a yield of 10.33%. Equitrans Midstream’s dividend payout ratio is presently -83.33%.

Equitrans Midstream Company Profile

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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.