Federated Hermes Inc. Sells 539,103 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Federated Hermes Inc. lessened its stake in shares of Equitrans Midstream Co. (NYSE:ETRN) by 49.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 549,857 shares of the company’s stock after selling 539,103 shares during the period. Federated Hermes Inc.’s holdings in Equitrans Midstream were worth $5,598,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Equitrans Midstream by 17.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,955 shares of the company’s stock worth $1,099,000 after purchasing an additional 15,967 shares during the last quarter. Strs Ohio boosted its holdings in shares of Equitrans Midstream by 9.3% in the 4th quarter. Strs Ohio now owns 57,700 shares of the company’s stock valued at $587,000 after acquiring an additional 4,900 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Equitrans Midstream in the fourth quarter worth $1,239,000. Miller Howard Investments Inc. NY increased its stake in shares of Equitrans Midstream by 1.5% in the fourth quarter. Miller Howard Investments Inc. NY now owns 1,039,733 shares of the company’s stock worth $10,584,000 after acquiring an additional 15,420 shares during the period. Finally, Pinkerton Retirement Specialists LLC increased its stake in shares of Equitrans Midstream by 84.7% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 48,322 shares of the company’s stock worth $492,000 after acquiring an additional 22,153 shares during the period. Hedge funds and other institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Stock Up 2.1 %

ETRN stock opened at $13.72 on Friday. The firm has a market cap of $5.99 billion, a PE ratio of 15.42, a P/E/G ratio of 1.71 and a beta of 1.97. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The firm’s fifty day moving average is $11.70 and its 200 day moving average is $10.45. Equitrans Midstream Co. has a one year low of $4.65 and a one year high of $13.75.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. The company had revenue of $360.60 million for the quarter, compared to analyst estimates of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. On average, research analysts forecast that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s payout ratio is 67.42%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ETRN. Morgan Stanley cut their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Finally, Barclays increased their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.86.

Equitrans Midstream Company Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.