Equitrans Midstream (NASDAQ:ETRN) Issues Quarterly Earnings Results, Beats Estimates By $0.52 EPS

Equitrans Midstream (NASDAQ:ETRN) posted its quarterly earnings results on Tuesday. The company reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.52, Fidelity Earnings reports. The company had revenue of $408.34 million for the quarter, compared to the consensus estimate of $409.00 million.

NASDAQ ETRN traded down $0.57 during trading on Friday, hitting $12.31. 4,269,800 shares of the company’s stock traded hands, compared to its average volume of 2,289,056. Equitrans Midstream has a 12-month low of $12.21 and a 12-month high of $23.47. The business has a 50 day moving average of $14.25 and a 200-day moving average of $17.04.

The firm also recently disclosed a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 12th.

Several equities analysts recently weighed in on ETRN shares. Barclays restated a “hold” rating and set a $19.00 price target on shares of Equitrans Midstream in a research report on Wednesday, October 16th. UBS Group upgraded shares of Equitrans Midstream from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Zacks Investment Research downgraded shares of Equitrans Midstream from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Royal Bank of Canada set a $19.00 price objective on shares of Equitrans Midstream and gave the company a “hold” rating in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $20.78.

Equitrans Midstream Company Profile

Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.

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