Retirement Systems of Alabama Grows Position in Equitrans Midstream Co. (NYSE:ETRN)

Retirement Systems of Alabama raised its position in Equitrans Midstream Co. (NYSE:ETRN) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 542,637 shares of the company’s stock after buying an additional 1,661 shares during the quarter. Retirement Systems of Alabama’s holdings in Equitrans Midstream were worth $5,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Equitrans Midstream in the 4th quarter valued at $39,000. AlphaMark Advisors LLC grew its position in Equitrans Midstream by 66.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after purchasing an additional 2,250 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Equitrans Midstream in the third quarter valued at $55,000. Operose Advisors LLC purchased a new stake in shares of Equitrans Midstream in the third quarter valued at about $56,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Equitrans Midstream during the third quarter worth about $93,000. 87.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Barclays upped 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 set a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. Wells Fargo & Company lifted their price objective on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday. US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Morgan Stanley lowered their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.19.

Equitrans Midstream Stock Performance

NYSE:ETRN opened at $13.66 on Monday. The firm’s fifty day simple moving average is $12.06 and its 200-day simple moving average is $10.63. The company has a quick ratio of 0.76, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The stock has a market cap of $5.92 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.93. Equitrans Midstream Co. has a fifty-two week low of $4.65 and a fifty-two week high of $14.21.

Equitrans Midstream (NYSE:ETRN) last issued its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The company had revenue of $364.27 million for the quarter, compared to analyst estimates of $345.79 million. During the same period in the prior year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts expect that Equitrans Midstream Co. will post 0.86 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. Investors of record on Tuesday, May 7th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.39%. The ex-dividend date is Monday, May 6th. Equitrans Midstream’s payout ratio is currently 66.67%.

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.