Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Equitrans Midstream Co. (NYSE:ETRN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Equitrans Midstream Co. (NYSE:ETRN) by 17.4% in the 4th quarter, Holdings Channel reports. The firm owned 107,955 shares of the company’s stock after purchasing an additional 15,967 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equitrans Midstream were worth $1,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC grew its stake in shares of Equitrans Midstream by 66.2% in the third quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock valued at $53,000 after buying an additional 2,250 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Equitrans Midstream in the third quarter valued at $55,000. Operose Advisors LLC acquired a new stake in shares of Equitrans Midstream in the third quarter valued at $56,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Equitrans Midstream in the third quarter valued at $93,000. Finally, IFP Advisors Inc grew its stake in shares of Equitrans Midstream by 688.2% in the third quarter. IFP Advisors Inc now owns 12,604 shares of the company’s stock valued at $118,000 after buying an additional 11,005 shares in the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.

Wall Street Analysts Forecast Growth

ETRN has been the subject of a number of research reports. Barclays lifted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Finally, Morgan Stanley decreased their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.86.

Equitrans Midstream Trading Up 0.1 %

NYSE:ETRN opened at $13.74 on Friday. The firm has a market cap of $5.99 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.83 and a beta of 1.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The stock has a fifty day moving average price of $11.77 and a 200 day moving average price of $10.48. Equitrans Midstream Co. has a 12-month low of $4.65 and a 12-month high of $13.80.

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

Equitrans Midstream Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is 67.42%.

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.