Tortoise Capital Advisors L.L.C. Raises Stock Holdings in Equitrans Midstream (NASDAQ:ETRN)

Tortoise Capital Advisors L.L.C. lifted its holdings in shares of Equitrans Midstream (NASDAQ:ETRN) by 7.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,439,427 shares of the company’s stock after acquiring an additional 657,011 shares during the quarter. Equitrans Midstream accounts for about 0.8% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 27th largest position. Tortoise Capital Advisors L.L.C. owned about 3.70% of Equitrans Midstream worth $126,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Smith Asset Management Group LP grew its holdings in Equitrans Midstream by 128.0% during the fourth quarter. Smith Asset Management Group LP now owns 2,351 shares of the company’s stock valued at $31,000 after purchasing an additional 1,320 shares during the period. Huntington National Bank grew its holdings in Equitrans Midstream by 153.7% during the fourth quarter. Huntington National Bank now owns 5,042 shares of the company’s stock valued at $67,000 after purchasing an additional 3,055 shares during the period. Marshall Wace North America L.P. bought a new position in Equitrans Midstream during the first quarter valued at $72,000. Advisory Services Network LLC grew its holdings in Equitrans Midstream by 1,873.3% during the fourth quarter. Advisory Services Network LLC now owns 9,669 shares of the company’s stock valued at $129,000 after purchasing an additional 9,179 shares during the period. Finally, AJO LP bought a new position in Equitrans Midstream during the fourth quarter valued at $130,000.

Several brokerages have weighed in on ETRN. Barclays reissued a “hold” rating and set a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, December 19th. Zacks Investment Research raised Equitrans Midstream from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Wells Fargo & Co lowered Equitrans Midstream from an “equal weight” rating to an “underweight” rating and set a $11.00 price target for the company. in a report on Tuesday, January 7th. Finally, BidaskClub lowered Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.71.

In other Equitrans Midstream news, COO Diana M. Charletta acquired 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average price of $6.38 per share, with a total value of $223,300.00. Also, CEO Thomas F. Karam acquired 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average cost of $6.38 per share, with a total value of $478,500.00. Insiders have purchased 130,000 shares of company stock valued at $791,200 in the last three months.

Shares of Equitrans Midstream stock traded up $0.04 during trading hours on Thursday, reaching $4.81. The company had a trading volume of 6,498,089 shares, compared to its average volume of 5,915,792. Equitrans Midstream has a one year low of $3.75 and a one year high of $22.29. The business has a fifty day simple moving average of $7.26 and a 200 day simple moving average of $11.19.

Equitrans Midstream (NASDAQ:ETRN) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.77. The company had revenue of $425.86 million during the quarter, compared to the consensus estimate of $414.80 million.

Equitrans Midstream Company Profile

Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.

Read More: Intrinsic Value

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

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