Acumen Capital Issues Positive Forecast for Tidewater Midstream and Infrastructure (TSE:TWM) Stock Price

Tidewater Midstream and Infrastructure (TSE:TWM) had its target price lifted by Acumen Capital from C$28.75 to C$35.75 in a research report sent to investors on Friday morning,BayStreet reports. Acumen Capital currently has a speculative buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. Scotiabank raised their price objective on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the company a “sector perform” rating in a report on Tuesday, July 21st. Royal Bank Of Canada upped their target price on Tidewater Midstream and Infrastructure from C$30.00 to C$35.00 and gave the stock an “outperform” rating in a report on Friday. Scotia increased their target price on Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. ATB Cormark Capital Markets increased their target price on Tidewater Midstream and Infrastructure from C$26.00 to C$28.00 and gave the company an “outperform” rating in a research report on Friday, October 23rd. Finally, National Bank Financial lifted their price target on Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Tidewater Midstream and Infrastructure presently has a consensus rating of “Moderate Buy” and an average price target of C$28.79.

Tidewater Midstream and Infrastructure Price Performance

Shares of TSE TWM traded up C$0.60 during midday trading on Friday, reaching C$26.63. 137,467 shares of the company were exchanged, compared to its average volume of 74,208. The stock’s 50-day moving average price is C$23.59 and its 200-day moving average price is C$16.56. The stock has a market cap of C$584.16 million, a P/E ratio of -7.57, a PEG ratio of 0.64 and a beta of -0.33. Tidewater Midstream and Infrastructure has a one year low of C$4.49 and a one year high of C$26.94. The company has a quick ratio of 0.55, a current ratio of 0.56 and a debt-to-equity ratio of 310.84.

Tidewater Midstream and Infrastructure (TSE:TWM) last announced its quarterly earnings results on Thursday, November 12th. The company reported C($1.19) earnings per share (EPS) for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 41.37% and a negative net margin of 3.63%. The company had revenue of C$628.20 million for the quarter. On average, sell-side analysts anticipate that Tidewater Midstream and Infrastructure will post 0.02 earnings per share for the current fiscal year.

Trending Headlines about Tidewater Midstream and Infrastructure

Here are a few of the latest headlines about TWM:

• Positive Sentiment: Acumen Capital raised its price target to C$35.75 from C$28.75 and assigned a “speculative buy” rating. Tickerreport article
• Positive Sentiment: TWM’s Q3 loss narrowed year over year, a sign of improvement, though the company still reported a quarterly loss. Q3 loss narrows year over year
• Negative Sentiment: The company reported a quarterly loss of C$1.19 per share on revenue of C$628.2 million; ongoing losses and negative profitability remain risks for investors. Q3 consolidated financial statements

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd. is traded on the TSX under the symbol ‘TWM’. Midstream’s business objective is to build a diversified midstream and infrastructure company across the North American gas processing, natural gas liquids (‘NGL’), petroleum refining, and renewables markets. Midstream’s strategy is to profitably grow and create shareholder value by acquiring and building high quality, strategically located infrastructure. To achieve its business objective, Midstream is focused on providing customers with a full service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, NGL infrastructure, pipelines, storage, and various renewable initiatives.