Equitrans Midstream (NASDAQ:ETRN) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Equitrans Midstream (NASDAQ:ETRN) have earned an average rating of “Hold” from the ten brokerages that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $12.33.

Several brokerages recently commented on ETRN. Bank of America cut Equitrans Midstream from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 19th. BofA Securities cut Equitrans Midstream from a “neutral” rating to an “underperform” rating in a research note on Wednesday, August 19th. UBS Group boosted their price target on Equitrans Midstream from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Zacks Investment Research raised Equitrans Midstream from a “sell” rating to a “hold” rating in a research report on Tuesday, September 15th. Finally, BidaskClub cut Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Friday, September 4th.

Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in shares of Equitrans Midstream by 102.9% during the second quarter. Principal Financial Group Inc. now owns 1,250,733 shares of the company’s stock worth $10,394,000 after buying an additional 634,238 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Equitrans Midstream by 60.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 50,200 shares of the company’s stock worth $417,000 after buying an additional 19,000 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Equitrans Midstream by 37.8% during the second quarter. PNC Financial Services Group Inc. now owns 835,895 shares of the company’s stock worth $6,947,000 after buying an additional 229,164 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Equitrans Midstream by 2,763.9% during the second quarter. Neuberger Berman Group LLC now owns 397,217 shares of the company’s stock worth $3,299,000 after buying an additional 383,347 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in shares of Equitrans Midstream by 79.0% during the second quarter. Nuveen Asset Management LLC now owns 1,032,084 shares of the company’s stock worth $8,576,000 after buying an additional 455,603 shares during the last quarter.

NASDAQ:ETRN traded down $0.26 on Thursday, hitting $8.91. 139,624 shares of the company’s stock traded hands, compared to its average volume of 6,321,045. Equitrans Midstream has a 1 year low of $3.75 and a 1 year high of $15.24. The firm has a 50-day moving average price of $10.26 and a 200-day moving average price of $8.32.

Equitrans Midstream (NASDAQ:ETRN) last released its earnings results on Tuesday, August 4th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The business had revenue of $340.90 million for the quarter, compared to analysts’ expectations of $356.33 million. The firm’s revenue was down 16.1% on a year-over-year basis.

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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Analyst Recommendations for Equitrans Midstream (NASDAQ:ETRN)

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