Morningstar Investment Management LLC Sells 18,140 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Morningstar Investment Management LLC lowered its stake in shares of Equitrans Midstream Co. (NYSE:ETRN – Get Rating) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 256,792 shares of the company’s stock after selling 18,140 shares during the period. Morningstar Investment Management LLC’s holdings in Equitrans Midstream were worth $1,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors grew its holdings in Equitrans Midstream by 5.9% in the 1st quarter. Capital International Investors now owns 49,239,507 shares of the company’s stock valued at $415,696,000 after buying an additional 2,749,573 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Equitrans Midstream by 1.0% during the 1st quarter. BlackRock Inc. now owns 47,832,584 shares of the company’s stock worth $403,708,000 after purchasing an additional 451,239 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Equitrans Midstream by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 45,275,746 shares of the company’s stock worth $338,662,000 after purchasing an additional 1,999,312 shares in the last quarter. State Street Corp grew its holdings in shares of Equitrans Midstream by 3.3% during the 3rd quarter. State Street Corp now owns 14,540,478 shares of the company’s stock worth $108,763,000 after purchasing an additional 467,143 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Equitrans Midstream by 4.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,044,422 shares of the company’s stock worth $82,612,000 after buying an additional 426,655 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. The Goldman Sachs Group downgraded Equitrans Midstream from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $9.50 to $6.00 in a research report on Tuesday, January 31st. Barclays dropped their target price on Equitrans Midstream from $8.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, April 10th. Raymond James began coverage on Equitrans Midstream in a research report on Friday, April 21st. They issued a “market perform” rating for the company. Finally, Citigroup lowered their price objective on Equitrans Midstream from $8.00 to $6.50 and set a “neutral” rating for the company in a research report on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $7.00.

Equitrans Midstream Stock Up 2.7 %

NYSE ETRN traded up $0.16 during trading hours on Friday, hitting $6.06. 4,021,155 shares of the company’s stock were exchanged, compared to its average volume of 5,236,332. The stock has a 50-day simple moving average of $5.23 and a 200 day simple moving average of $6.40. Equitrans Midstream Co. has a 1-year low of $4.60 and a 1-year high of $9.90. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 4.81.

Equitrans Midstream (NYSE:ETRN – Get Rating) last released its earnings results on Tuesday, May 2nd. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.14 by $0.08. Equitrans Midstream had a positive return on equity of 18.92% and a negative net margin of 18.27%. The business had revenue of $376.30 million during the quarter, compared to analysts’ expectations of $360.73 million. During the same quarter last year, the firm posted $0.14 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts expect that Equitrans Midstream Co. will post 0.52 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, May 5th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 4th. This represents a $0.60 dividend on an annualized basis and a yield of 9.90%. Equitrans Midstream’s dividend payout ratio (DPR) is presently -83.33%.

Insider Buying and Selling at Equitrans Midstream

In other news, CFO Kirk R. Oliver acquired 9,000 shares of Equitrans Midstream stock in a transaction on Thursday, March 16th. The stock was purchased at an average price of $5.46 per share, with a total value of $49,140.00. Following the completion of the purchase, the chief financial officer now owns 39,118 shares of the company’s stock, valued at approximately $213,584.28. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.52% of the company’s stock.

Equitrans Midstream Profile

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Equitrans Midstream Corp. engages in the provision of midstream services. It operates through the following segments: Gathering, Transmission, and Water. The Gathering segment includes EQM’s high-pressure gathering lines and FERC-regulated low-pressure gathering lines. The Transmission segment refers to the EQM’s FERC-regulated interstate pipelines and storage system.