Zacks: Analysts Anticipate Equitrans Midstream Co. (NYSE:ETRN) Will Announce Earnings of $0.32 Per Share

Equities research analysts expect that Equitrans Midstream Co. (NYSE:ETRN) will announce earnings of $0.32 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Equitrans Midstream’s earnings, with the lowest EPS estimate coming in at $0.25 and the highest estimate coming in at $0.36. Equitrans Midstream posted earnings per share of $1.24 during the same quarter last year, which indicates a negative year over year growth rate of 74.2%. The firm is expected to issue its next quarterly earnings report on Thursday, February 25th.

According to Zacks, analysts expect that Equitrans Midstream will report full year earnings of $1.28 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.37. For the next fiscal year, analysts expect that the business will post earnings of $1.09 per share, with EPS estimates ranging from $1.00 to $1.18. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Equitrans Midstream.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The firm had revenue of $350.00 million during the quarter, compared to analyst estimates of $349.23 million. Equitrans Midstream had a return on equity of 15.27% and a net margin of 1.40%.

A number of equities research analysts recently issued reports on ETRN shares. Morgan Stanley started coverage on shares of Equitrans Midstream in a research note on Friday, September 25th. They issued an “equal weight” rating and a $10.00 price target on the stock. Bank of America raised Equitrans Midstream from an “underperform” rating to a “neutral” rating in a report on Wednesday, November 18th. BidaskClub downgraded Equitrans Midstream from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 14th. Credit Suisse Group cut their target price on Equitrans Midstream from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, November 12th. Finally, Zacks Investment Research downgraded shares of Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Saturday, November 21st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.32.

Shares of Equitrans Midstream stock traded up $0.05 on Wednesday, reaching $8.47. The company’s stock had a trading volume of 3,389,151 shares, compared to its average volume of 6,002,229. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.90. The company has a market capitalization of $3.66 billion, a P/E ratio of -26.47 and a beta of 2.24. The stock has a 50-day moving average price of $8.09 and a 200-day moving average price of $8.00. Equitrans Midstream has a 52-week low of $3.75 and a 52-week high of $13.57.

Several large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new position in shares of Equitrans Midstream in the 2nd quarter worth approximately $44,000. Freestone Capital Holdings LLC acquired a new position in shares of Equitrans Midstream in the 3rd quarter worth approximately $55,000. Central Bank & Trust Co. grew its position in Equitrans Midstream by 8,875.0% during the 3rd quarter. Central Bank & Trust Co. now owns 7,180 shares of the company’s stock worth $61,000 after acquiring an additional 7,100 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in Equitrans Midstream during the 1st quarter valued at $72,000. Finally, Greenleaf Trust bought a new position in Equitrans Midstream in the 3rd quarter valued at $86,000. 86.11% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Equitrans Midstream (NYSE:ETRN)

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