Equitrans Midstream (NYSE:ETRN) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Equitrans Midstream (NYSE:ETRN) in a research note published on Friday, Stock Target Advisor reports. The firm issued an equal weight rating and a $10.00 price target on the stock.

Shares of ETRN opened at $8.46 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.25 and a quick ratio of 1.25. Equitrans Midstream has a fifty-two week low of $3.75 and a fifty-two week high of $15.24. The stock has a market cap of $3.66 billion, a PE ratio of -9.10 and a beta of 2.26.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $340.59 million during the quarter, compared to analysts’ expectations of $336.68 million. Equitrans Midstream had a positive return on equity of 15.32% and a negative net margin of 12.80%. On average, sell-side analysts anticipate that Equitrans Midstream will post 1.22 EPS for the current year.

Equitrans Midstream Company Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. The Gathering System segment include 990 miles of high-pressure gathering lines with compression of approximately 445,000 horsepower and multiple interconnect points; and approximately 920 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.

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