Equitrans Midstream Co. (NYSE:ETRN) Shares Purchased by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC increased its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 25.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,187 shares of the company’s stock after acquiring an additional 1,471 shares during the period. Hexagon Capital Partners LLC’s holdings in Equitrans Midstream were worth $90,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Equitrans Midstream by 3.5% in 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 last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Equitrans Midstream by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,740,820 shares of the company’s stock worth $88,982,000 after acquiring an additional 260,924 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Equitrans Midstream by 28.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company’s stock worth $80,741,000 after acquiring an additional 1,758,270 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 worth $53,463,000 after acquiring an additional 1,151,348 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Equitrans Midstream in the fourth quarter worth $50,093,000. 87.35% of the stock is owned by institutional investors and hedge funds.

Equitrans Midstream Trading Down 1.2 %

ETRN stock traded down $0.16 during trading on Monday, reaching $12.82. 4,555,814 shares of the stock traded hands, compared to its average volume of 6,214,013. The business’s 50 day moving average price is $13.70 and its 200-day moving average price is $11.92. Equitrans Midstream Co. has a 52-week low of $8.44 and a 52-week high of $14.64. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market capitalization of $5.56 billion, a PE ratio of 14.42, a P/E/G ratio of 11.11 and a beta of 2.01.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (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 during the quarter, compared to the consensus estimate of $345.79 million. During the same quarter in the previous year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Equitrans Midstream Co. will post 0.78 earnings per share for the current year.

Equitrans Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders 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 yield of 4.68%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

ETRN has been the subject of a number of analyst reports. Morgan Stanley upped their target price on Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note 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 note on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.10.

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.