Equitrans Midstream Co. (NYSE:ETRN) Given Average Recommendation of “Hold” by Brokerages

Equitrans Midstream Co. (NYSE:ETRN) has received a consensus rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.19.

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price target on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday. Barclays lifted their price target on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Equitrans Midstream in a research note on Thursday, March 7th. US Capital Advisors cut Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Finally, Morgan Stanley reduced 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.

Institutional Trading of Equitrans Midstream

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Equitrans Midstream by 3.5% during the third quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock worth $440,746,000 after acquiring an additional 1,572,136 shares during the period. Dimensional Fund Advisors LP increased its position in Equitrans Midstream by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,740,820 shares of the company’s stock worth $88,982,000 after purchasing an additional 260,924 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Equitrans Midstream by 28.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company’s stock worth $80,741,000 after buying an additional 1,758,270 shares in the last quarter. Blackstone Inc. lifted its holdings in shares of Equitrans Midstream by 18.8% in the 3rd quarter. Blackstone Inc. now owns 7,573,498 shares of the company’s stock valued at $70,964,000 after buying an additional 1,197,991 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Equitrans Midstream by 28.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,251,814 shares of the company’s stock valued at $53,463,000 after buying an additional 1,151,348 shares in the last quarter. 87.35% of the stock is owned by institutional investors and hedge funds.

Equitrans Midstream Stock Performance

NYSE:ETRN opened at $13.67 on Friday. The stock has a market capitalization of $5.96 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.75 and a beta of 1.93. The stock has a 50-day moving average price of $12.00 and a 200 day moving average price of $10.59. The company has a current ratio of 0.63, a quick ratio of 0.76 and a debt-to-equity ratio of 4.88. Equitrans Midstream has a 12-month low of $4.65 and a 12-month high of $14.21.

Equitrans Midstream (NYSE:ETRN) last announced its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $364.27 million during the quarter, compared to analysts’ expectations of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. Equities research analysts forecast that Equitrans Midstream will post 0.87 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

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 paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s dividend payout ratio is presently 66.67%.

About Equitrans Midstream

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.