Trexquant Investment LP Invests $573,000 in Equitrans Midstream Co. (NYSE:ETRN)

Trexquant Investment LP purchased a new position in shares of Equitrans Midstream Co. (NYSE:ETRNFree Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 56,335 shares of the company’s stock, valued at approximately $573,000.

A number of other large investors have also made changes to their positions in ETRN. Allspring Global Investments Holdings LLC purchased a new stake in shares of Equitrans Midstream during the third quarter valued at $93,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of Equitrans Midstream during the third quarter valued at $419,000. Arizona State Retirement System grew its holdings in shares of Equitrans Midstream by 1.4% during the third quarter. Arizona State Retirement System now owns 123,341 shares of the company’s stock valued at $1,156,000 after buying an additional 1,693 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Equitrans Midstream by 1,032.9% during the third quarter. Jump Financial LLC now owns 144,352 shares of the company’s stock valued at $1,353,000 after buying an additional 131,610 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Equitrans Midstream by 6.9% during the third quarter. New York State Common Retirement Fund now owns 211,928 shares of the company’s stock valued at $1,986,000 after buying an additional 13,637 shares during the last quarter. 87.35% of the stock is owned by institutional investors and hedge funds.

Equitrans Midstream Trading Down 0.1 %

ETRN stock opened at $14.28 on Friday. Equitrans Midstream Co. has a 52-week low of $7.83 and a 52-week high of $14.60. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The firm has a market cap of $6.19 billion, a P/E ratio of 15.87, a PEG ratio of 11.34 and a beta of 1.93. The company’s 50-day simple moving average is $13.18 and its 200-day simple moving average is $11.31.

Equitrans Midstream (NYSE:ETRNGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The firm had revenue of $364.27 million for the quarter, compared to analysts’ expectations of $345.79 million. During the same period last year, the firm earned $0.22 EPS. The company’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Equitrans Midstream Co. will post 0.85 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ETRN. Morgan Stanley dropped their price objective 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. US Capital Advisors lowered shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company upped their price target on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. Finally, Barclays upped their price target on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Equitrans Midstream currently has a consensus rating of “Hold” and an average target price of $11.22.

View Our Latest Stock Analysis on ETRN

Equitrans Midstream Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Equitrans Midstream (NYSE:ETRN)

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