Equitrans Midstream Co. (NYSE:ETRN) Given Average Recommendation of “Hold” by Brokerages

Shares of Equitrans Midstream Co. (NYSE:ETRN) have received an average rating of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $10.86.

Several equities analysts recently issued reports on ETRN shares. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Barclays boosted their price target on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. TheStreet upgraded Equitrans Midstream from a “d+” rating to a “c-” rating in a research note on Wednesday, December 27th. Finally, Morgan Stanley lowered their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ETRN. Rise Advisors LLC acquired a new position in shares of Equitrans Midstream in the 1st quarter worth approximately $25,000. Lazard Asset Management LLC acquired a new position in shares of Equitrans Midstream in the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new position in shares of Equitrans Midstream in the 1st quarter worth approximately $33,000. Harvest Fund Management Co. Ltd acquired a new position in Equitrans Midstream during the 4th quarter worth $39,000. Finally, Captrust Financial Advisors lifted its holdings in Equitrans Midstream by 50.6% during the 2nd quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock worth $42,000 after buying an additional 2,244 shares in the last quarter. 87.35% of the stock is owned by institutional investors and hedge funds.

Equitrans Midstream Price Performance

Shares of NYSE:ETRN opened at $12.42 on Tuesday. Equitrans Midstream has a fifty-two week low of $4.60 and a fifty-two week high of $13.06. The business has a 50-day moving average of $11.28 and a two-hundred day moving average of $10.27. The stock has a market capitalization of $5.42 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.69 and a beta of 1.97. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The business had revenue of $360.60 million during the quarter, compared to analysts’ expectations of $348.04 million. During the same quarter in the previous year, the firm earned $0.13 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Equitrans Midstream will post 0.87 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.83%. The ex-dividend date was Monday, February 5th. Equitrans Midstream’s payout ratio is currently 67.42%.

About Equitrans Midstream

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.