State of New Jersey Common Pension Fund D Acquires 17,964 Shares of Equitrans Midstream Co. (NYSE:ETRN)

State of New Jersey Common Pension Fund D grew its holdings in Equitrans Midstream Co. (NYSE:ETRN) by 6.9% in the fourth quarter, HoldingsChannel reports. The fund owned 277,133 shares of the company’s stock after buying an additional 17,964 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Equitrans Midstream were worth $2,821,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in Equitrans Midstream in the fourth quarter valued at about $39,000. NBW Capital LLC acquired a new position in Equitrans Midstream in the fourth quarter valued at about $2,823,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Equitrans Midstream by 17.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,955 shares of the company’s stock valued at $1,099,000 after purchasing an additional 15,967 shares in the last quarter. Strs Ohio raised its stake in Equitrans Midstream by 9.3% in the fourth quarter. Strs Ohio now owns 57,700 shares of the company’s stock valued at $587,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in Equitrans Midstream in the fourth quarter valued at about $1,239,000. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Stock Up 1.1 %

Shares of NYSE ETRN opened at $13.89 on Tuesday. 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 company has a market cap of $6.06 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.83 and a beta of 1.97. Equitrans Midstream Co. has a 12 month low of $4.65 and a 12 month high of $13.98. The stock has a 50-day moving average price of $11.83 and a two-hundred day moving average price of $10.52.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The company had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts forecast that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Monday, May 6th. Equitrans Midstream’s dividend payout ratio is currently 67.42%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ETRN. Barclays boosted their price target 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 target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Finally, Morgan Stanley lowered their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $10.86.

Equitrans Midstream 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.