Deutsche Bank AG Grows Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Deutsche Bank AG increased its position in shares of Equitrans Midstream Co. (NYSE:ETRN) by 106.6% during the 2nd quarter, Holdings Channel reports. The firm owned 263,397 shares of the company’s stock after purchasing an additional 135,890 shares during the quarter. Deutsche Bank AG’s holdings in Equitrans Midstream were worth $2,242,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its stake in Equitrans Midstream by 1,154.0% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 10,631,831 shares of the company’s stock valued at $86,756,000 after acquiring an additional 9,783,967 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Equitrans Midstream by 24.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,650,107 shares of the company’s stock valued at $160,345,000 after acquiring an additional 3,868,996 shares during the last quarter. AQR Capital Management LLC boosted its stake in Equitrans Midstream by 5,030.4% in the first quarter. AQR Capital Management LLC now owns 3,396,225 shares of the company’s stock valued at $27,441,000 after acquiring an additional 3,330,027 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Equitrans Midstream by 79.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,901,343 shares of the company’s stock valued at $48,155,000 after acquiring an additional 2,616,897 shares during the last quarter. Finally, Brookfield Asset Management Inc. boosted its stake in Equitrans Midstream by 19.8% in the first quarter. Brookfield Asset Management Inc. now owns 10,429,436 shares of the company’s stock valued at $85,104,000 after acquiring an additional 1,725,754 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Shares of ETRN stock opened at $10.97 on Thursday. The stock has a market capitalization of $4.74 billion, a P/E ratio of 13.71 and a beta of 2.06. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.94. The firm’s 50 day moving average is $9.37 and its 200 day moving average is $8.77. Equitrans Midstream Co. has a 12 month low of $6.23 and a 12 month high of $11.10.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings results on Tuesday, August 3rd. The company reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). The business had revenue of $348.30 million for the quarter, compared to analysts’ expectations of $340.87 million. Equitrans Midstream had a net margin of 28.14% and a return on equity of 12.76%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. On average, equities analysts predict that Equitrans Midstream Co. will post 0.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Wednesday, August 4th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Tuesday, August 3rd. Equitrans Midstream’s dividend payout ratio (DPR) is presently 46.51%.

ETRN has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Equitrans Midstream from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday. Bank of America assumed coverage on shares of Equitrans Midstream in a research note on Tuesday, September 28th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Equitrans Midstream currently has a consensus rating of “Hold” and an average price target of $9.60.

Equitrans Midstream Company Profile

Equitrans Midstream Corp. has a premier asset footprint in the Appalachian Basin and is one of the largest natural gas gatherers in the United States. It focuses on gas gathering systems, transmission and storage systems, and water services assets that support natural gas producers across the Basin. The company operates in the following segments: Gathering, Transmission and Water.

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Institutional Ownership by Quarter for Equitrans Midstream (NYSE:ETRN)

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