Q2 2024 EPS Estimates for Equitrans Midstream Co. (NYSE:ETRN) Reduced by US Capital Advisors

Equitrans Midstream Co. (NYSE:ETRN) – Equities research analysts at US Capital Advisors reduced their Q2 2024 earnings per share estimates for shares of Equitrans Midstream in a research report issued on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now anticipates that the company will earn $0.04 per share for the quarter, down from their previous estimate of $0.09. US Capital Advisors currently has a “Hold” rating on the stock. The consensus estimate for Equitrans Midstream’s current full-year earnings is $0.85 per share. US Capital Advisors also issued estimates for Equitrans Midstream’s Q3 2024 earnings at $0.23 EPS, FY2024 earnings at $0.74 EPS, Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.26 EPS and FY2026 earnings at $1.12 EPS.

ETRN has been the subject of a number of other research reports. Morgan Stanley decreased their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Wells Fargo & Company raised their price target on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Barclays upped their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $11.19.

Equitrans Midstream Price Performance

Shares of NYSE ETRN opened at $13.84 on Wednesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. The stock has a market cap of $6.00 billion, a P/E ratio of 15.37, a P/E/G ratio of 11.07 and a beta of 1.93. The stock has a 50 day moving average of $12.84 and a two-hundred day moving average of $11.07. Equitrans Midstream has a twelve month low of $5.71 and a twelve month high of $14.60.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $364.27 million during the quarter, compared to analysts’ expectations of $345.79 million. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. Equitrans Midstream’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share.

Hedge Funds Weigh In On Equitrans Midstream

Several hedge funds have recently added to or reduced their stakes in ETRN. Levin Capital Strategies L.P. acquired a new stake in shares of Equitrans Midstream during the 4th quarter worth about $204,000. Envestnet Asset Management Inc. boosted its holdings in shares of Equitrans Midstream by 125.3% during the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock worth $4,838,000 after purchasing an additional 287,176 shares during the last quarter. Valueworks LLC boosted its holdings in shares of Equitrans Midstream by 14.7% during the third quarter. Valueworks LLC now owns 765,213 shares of the company’s stock worth $7,170,000 after purchasing an additional 97,940 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Equitrans Midstream in the third quarter valued at $2,555,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Equitrans Midstream by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,914,514 shares of the company’s stock valued at $39,850,000 after purchasing an additional 13,183 shares during the last quarter. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

Equitrans Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.34%. Equitrans Midstream’s payout ratio is 66.67%.

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.