Tidewater Midstream and Infrastructure (TSE:TWM) Hits New 12-Month High Following Analyst Upgrade

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) hit a new 52-week high on Monday after National Bank Financial upgraded the stock from an underperform rating to a sector perform rating. National Bank Financial now has a C$9.50 price target on the stock, up from their previous price target of C$4.50. Tidewater Midstream and Infrastructure traded as high as C$9.01 and last traded at C$8.70, with a volume of 87934 shares. The stock had previously closed at C$9.00.

Other research analysts have also issued reports about the company. Royal Bank Of Canada upped their price objective on Tidewater Midstream and Infrastructure from C$10.00 to C$11.00 and gave the company a “sector perform” rating in a report on Friday. Scotiabank lifted their target price on Tidewater Midstream and Infrastructure from C$7.00 to C$9.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, ATB Cormark Capital Markets boosted their target price on shares of Tidewater Midstream and Infrastructure from C$6.00 to C$9.00 and gave the company a “sector perform” rating in a research report on Friday. Four analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$9.63.

Tidewater Midstream and Infrastructure Trading Down 3.8%

The firm has a market capitalization of C$187.02 million, a P/E ratio of -1.67, a PEG ratio of 0.64 and a beta of 0.19. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 315.42. The firm has a 50 day moving average of C$7.02 and a 200-day moving average of C$6.04.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.