Oppenheimer Asset Management Inc. Has $212,000 Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Oppenheimer Asset Management Inc. grew its holdings in shares of Equitrans Midstream Co. (NYSE:ETRN) by 54.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,642 shares of the company’s stock after purchasing an additional 12,851 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Equitrans Midstream were worth $212,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Maverick Capital Ltd. boosted its position in shares of Equitrans Midstream by 11.8% during the 1st quarter. Maverick Capital Ltd. now owns 14,713 shares of the company’s stock worth $124,000 after acquiring an additional 1,558 shares in the last quarter. Pathstone Family Office LLC boosted its position in shares of Equitrans Midstream by 12.7% during the 3rd quarter. Pathstone Family Office LLC now owns 14,227 shares of the company’s stock worth $106,000 after acquiring an additional 1,606 shares in the last quarter. Creative Planning boosted its position in shares of Equitrans Midstream by 5.1% during the 4th quarter. Creative Planning now owns 39,901 shares of the company’s stock worth $267,000 after acquiring an additional 1,940 shares in the last quarter. Truist Financial Corp boosted its position in shares of Equitrans Midstream by 15.6% during the 1st quarter. Truist Financial Corp now owns 15,211 shares of the company’s stock worth $88,000 after acquiring an additional 2,051 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Equitrans Midstream by 50.6% during the 2nd quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock worth $42,000 after acquiring an additional 2,244 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and set a $14.00 price target on shares of Equitrans Midstream in a research report on Tuesday, July 18th. TheStreet upgraded shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, June 28th. JPMorgan Chase & Co. raised their target price on shares of Equitrans Midstream from $9.50 to $11.00 in a research report on Friday, June 9th. Citigroup raised their target price on shares of Equitrans Midstream from $6.50 to $9.25 in a research report on Tuesday, June 6th. Finally, Bank of America raised their target price on shares of Equitrans Midstream from $5.00 to $9.00 in a research report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Equitrans Midstream has a consensus rating of “Hold” and a consensus price target of $9.69.

Equitrans Midstream Price Performance

ETRN stock opened at $9.64 on Thursday. The company has a fifty day moving average price of $9.52 and a 200-day moving average price of $7.37. The company has a market capitalization of $4.18 billion, a P/E ratio of -13.21, a PEG ratio of 1.03 and a beta of 1.92. Equitrans Midstream Co. has a 52-week low of $4.60 and a 52-week high of $10.48. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.90 and a current ratio of 0.90.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $318.50 million during the quarter, compared to the consensus estimate of $311.21 million. Equitrans Midstream had a negative net margin of 18.60% and a positive return on equity of 20.49%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 earnings per share. As a group, equities analysts expect that Equitrans Midstream Co. will post 0.53 EPS for the current year.

Equitrans Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend was Thursday, August 3rd. Equitrans Midstream’s dividend payout ratio is presently -82.19%.

Equitrans Midstream Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. The company operates dry gas gathering systems of high-pressure gathering lines; FERC-regulated interstate pipelines and storage systems; and water pipelines and other facilities that deliver fresh water from local municipal water authorities, the Monongahela River, the Ohio River, local reservoirs, and several regional waterways.