Aigen Investment Management LP Sells 51,560 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Aigen Investment Management LP cut its holdings in Equitrans Midstream Co. (NYSE:ETRN) by 43.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,433 shares of the company’s stock after selling 51,560 shares during the period. Aigen Investment Management LP’s holdings in Equitrans Midstream were worth $676,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Equitrans Midstream during the 4th quarter worth about $50,093,000. Kayne Anderson Capital Advisors LP acquired a new stake in Equitrans Midstream in the 3rd quarter worth approximately $19,163,000. Vanguard Group Inc. boosted its position in Equitrans Midstream by 3.5% during the third quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock worth $440,746,000 after purchasing an additional 1,572,136 shares during the period. Recurrent Investment Advisors LLC grew its holdings in Equitrans Midstream by 55.5% during the third quarter. Recurrent Investment Advisors LLC now owns 3,875,686 shares of the company’s stock valued at $36,315,000 after purchasing an additional 1,383,451 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Equitrans Midstream in the fourth quarter valued at approximately $12,710,000. 87.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. US Capital Advisors cut shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company lifted their price objective on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Barclays boosted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Morgan Stanley lowered their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. 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’s stock. Based on data from MarketBeat, Equitrans Midstream has an average rating of “Hold” and an average price target of $11.19.

Equitrans Midstream Price Performance

Shares of NYSE:ETRN opened at $14.41 on Thursday. The firm has a market capitalization of $6.25 billion, a PE ratio of 15.38, a PEG ratio of 11.07 and a beta of 1.93. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. Equitrans Midstream Co. has a 1-year low of $5.71 and a 1-year high of $14.52. The business’s 50 day moving average is $12.78 and its 200-day moving average is $11.05.

Equitrans Midstream (NYSE:ETRN) last issued its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $364.27 million during the quarter, compared to analysts’ expectations of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. Equitrans Midstream’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business earned $0.22 earnings per share. Sell-side analysts predict that Equitrans Midstream Co. will post 0.85 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.16%. Equitrans Midstream’s payout ratio is currently 66.67%.

Equitrans Midstream 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.