Equitrans Midstream (NYSE:ETRN) Sets New 12-Month High at $9.87

Equitrans Midstream Co. (NYSE:ETRN) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $9.87 and last traded at $9.86, with a volume of 37453 shares. The stock had previously closed at $9.75.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Equitrans Midstream from a “sell” rating to a “hold” rating in a research report on Wednesday, August 18th. Barclays raised their price objective on Equitrans Midstream from $7.00 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.05.

The firm has a market capitalization of $4.33 billion, a P/E ratio of 12.50 and a beta of 2.27. The stock has a fifty day simple moving average of $8.75 and a two-hundred day simple moving average of $8.55. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.48 and a quick ratio of 1.48.

Equitrans Midstream (NYSE:ETRN) last issued its earnings results on Tuesday, August 3rd. The company reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The business had revenue of $348.30 million during the quarter, compared to the consensus estimate of $340.87 million. Equitrans Midstream had a return on equity of 12.76% and a net margin of 28.14%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, sell-side analysts expect that Equitrans Midstream Co. will post 0.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Wednesday, August 4th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 6.00%. Equitrans Midstream’s payout ratio is currently 46.51%.

A number of hedge funds have recently modified their holdings of ETRN. BlackRock Inc. grew its stake in Equitrans Midstream by 16.3% in the second quarter. BlackRock Inc. now owns 48,774,870 shares of the company’s stock valued at $415,075,000 after acquiring an additional 6,838,191 shares during the period. Vanguard Group Inc. grew its stake in Equitrans Midstream by 4.1% in the second quarter. Vanguard Group Inc. now owns 42,162,566 shares of the company’s stock valued at $358,805,000 after acquiring an additional 1,651,327 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Equitrans Midstream by 1.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 19,973,129 shares of the company’s stock valued at $169,971,000 after acquiring an additional 323,022 shares during the period. State Street Corp grew its stake in Equitrans Midstream by 27.6% in the second quarter. State Street Corp now owns 13,318,577 shares of the company’s stock valued at $113,341,000 after acquiring an additional 2,883,920 shares during the period. Finally, Zimmer Partners LP grew its stake in Equitrans Midstream by 20.7% in the second quarter. Zimmer Partners LP now owns 12,950,000 shares of the company’s stock valued at $110,205,000 after acquiring an additional 2,216,913 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

Equitrans Midstream Company Profile (NYSE:ETRN)

Equitrans Midstream Corp. has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. It focuses on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. The company operates in the following segments: Gathering, Transmission and Water.

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