Equitrans Midstream Co. (NYSE:ETRN) Receives Consensus Rating of “Hold” from Analysts

Shares of Equitrans Midstream Co. (NYSE:ETRN) have been given a consensus recommendation of “Hold” by the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $11.19.

Several brokerages have weighed in on ETRN. Morgan Stanley lowered their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Barclays lifted their price target 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. Wells Fargo & Company increased their price objective on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th.

Equitrans Midstream Trading Down 2.1 %

Shares of Equitrans Midstream stock opened at $13.33 on Friday. Equitrans Midstream has a fifty-two week low of $5.06 and a fifty-two week high of $14.21. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $5.78 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.85 and a beta of 1.93. The firm has a 50-day simple moving average of $12.19 and a two-hundred day simple moving average of $10.70.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. Equitrans Midstream’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 earnings per share. As a group, equities analysts predict that Equitrans Midstream will post 0.86 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.50%. Equitrans Midstream’s payout ratio is currently 66.67%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Equitrans Midstream by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock valued at $440,746,000 after purchasing an additional 1,572,136 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in 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 valued at $80,741,000 after acquiring an additional 1,758,270 shares during the period. Blackstone Inc. boosted its position in shares of Equitrans Midstream by 18.8% during the 3rd quarter. Blackstone Inc. now owns 7,573,498 shares of the company’s stock worth $70,964,000 after purchasing an additional 1,197,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Equitrans Midstream by 28.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,251,814 shares of the company’s stock worth $53,463,000 after purchasing an additional 1,151,348 shares during the period. 87.35% of the stock is owned by hedge funds and other institutional investors.

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.