Equitrans Midstream Co. (NYSE:ETRN) Receives $13.10 Consensus Price Target from Brokerages

Shares of Equitrans Midstream Co. (NYSE:ETRN) have been given an average recommendation of “Hold” by the eight brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $13.10.

ETRN has been the topic of a number of analyst reports. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company upped their target price on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada restated 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 increased their price objective on shares of Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, June 10th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC acquired a new stake in Equitrans Midstream in the first quarter worth about $25,000. Truvestments Capital LLC bought a new position in shares of Equitrans Midstream in the first quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd acquired a new position in Equitrans Midstream during the fourth quarter worth about $39,000. Mather Group LLC. acquired a new position in shares of Equitrans Midstream in the 1st quarter worth $54,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Equitrans Midstream during the third quarter worth $55,000. Institutional investors and hedge funds own 87.35% of the company’s stock.

Equitrans Midstream Stock Down 0.5 %

Shares of NYSE:ETRN opened at $12.98 on Friday. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 11.17 and a beta of 1.98. The company has a 50 day moving average of $13.70 and a two-hundred day moving average of $11.91. Equitrans Midstream has a 52-week low of $8.44 and a 52-week high of $14.64. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The business had revenue of $364.27 million during the quarter, compared to analyst estimates of $345.79 million. During the same period last year, the business earned $0.22 EPS. The business’s revenue was down 3.2% on a year-over-year basis. As a group, analysts forecast that Equitrans Midstream will post 0.78 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 4.62%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s dividend 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.