Equitrans Midstream Co. (NYSE:ETRN) Given Consensus Rating of “Hold” by Brokerages

Shares of Equitrans Midstream Co. (NYSE:ETRN) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.86.

Several research firms recently commented on ETRN. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research note on Wednesday, December 27th. 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 research note on Thursday, February 22nd. Finally, Barclays boosted their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th.

Hedge Funds Weigh In On Equitrans Midstream

Hedge funds and other institutional investors have recently modified their holdings of the stock. Rise Advisors LLC bought a new position in shares of Equitrans Midstream during the first quarter worth $25,000. Lazard Asset Management LLC bought a new position in Equitrans Midstream during the second quarter valued at $25,000. Chilton Capital Management LLC bought a new position in Equitrans Midstream during the first quarter valued at $33,000. Harvest Fund Management Co. Ltd bought a new position in Equitrans Midstream during the fourth quarter valued at $39,000. Finally, Captrust Financial Advisors lifted its position in Equitrans Midstream by 50.6% during the second quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock valued at $42,000 after purchasing an additional 2,244 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Stock Performance

NYSE ETRN opened at $12.42 on Tuesday. Equitrans Midstream has a 52-week low of $4.60 and a 52-week high of $13.06. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $5.42 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.69 and a beta of 1.97. The company has a fifty day moving average of $11.28 and a 200-day moving average of $10.27.

Equitrans Midstream (NYSE:ETRN) last issued its earnings results on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. The company had revenue of $360.60 million for the quarter, compared to analysts’ expectations of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. As a group, equities research analysts predict that Equitrans Midstream will post 0.87 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were given a dividend of $0.15 per share. The ex-dividend date was Monday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.83%. Equitrans Midstream’s dividend payout ratio is 67.42%.

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.