Equitrans Midstream (NYSE:ETRN) Downgraded by US Capital Advisors

Equitrans Midstream (NYSE:ETRN) was downgraded by US Capital Advisors from an “overweight” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

Several other equities research analysts have also recently weighed in on ETRN. Barclays boosted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Morgan Stanley cut their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.86.

Equitrans Midstream Stock Down 2.4 %

NYSE ETRN opened at $13.54 on Monday. Equitrans Midstream has a 52 week low of $4.65 and a 52 week high of $14.21. The company has a market capitalization of $5.91 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.85 and a beta of 1.97. The stock’s 50-day moving average price is $11.89 and its 200-day moving average price is $10.55. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.83.

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

Hedge Funds Weigh In On Equitrans Midstream

Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. lifted its stake in Equitrans Midstream by 125.3% in the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock worth $4,838,000 after acquiring an additional 287,176 shares during the period. Valueworks LLC boosted its stake in shares of Equitrans Midstream by 14.7% during the third quarter. Valueworks LLC now owns 765,213 shares of the company’s stock valued at $7,170,000 after purchasing an additional 97,940 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Equitrans Midstream during the third quarter valued at approximately $2,555,000. Advisors Capital Management LLC purchased a new stake in Equitrans Midstream during the third quarter worth $3,533,000. Finally, Deutsche Bank AG boosted its position in Equitrans Midstream by 16.5% during the 3rd quarter. Deutsche Bank AG now owns 234,295 shares of the company’s stock valued at $2,195,000 after acquiring an additional 33,134 shares in the last quarter. 87.35% of the stock is currently owned by institutional investors.

Equitrans Midstream Company Profile

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.