Equitrans Midstream to Post Q3 2020 Earnings of $0.21 Per Share, US Capital Advisors Forecasts (NASDAQ:ETRN)

Equitrans Midstream (NASDAQ:ETRN) – Stock analysts at US Capital Advisors reduced their Q3 2020 earnings estimates for Equitrans Midstream in a research report issued on Wednesday, October 14th. US Capital Advisors analyst B. Followill now forecasts that the company will post earnings of $0.21 per share for the quarter, down from their prior estimate of $0.22.

Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.02. The firm had revenue of $340.90 million during the quarter, compared to the consensus estimate of $356.33 million. Equitrans Midstream’s revenue for the quarter was down 16.1% compared to the same quarter last year.

ETRN has been the topic of a number of other research reports. Morgan Stanley assumed coverage on shares of Equitrans Midstream in a research report on Friday, September 25th. They issued an “equal weight” rating and a $10.00 price target on the stock. Zacks Investment Research raised shares of Equitrans Midstream from a “sell” rating to a “hold” rating in a research report on Tuesday, September 15th. UBS Group boosted their target price on shares of Equitrans Midstream from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Goldman Sachs Group assumed coverage on shares of Equitrans Midstream in a research report on Wednesday, September 9th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Bank of America lowered shares of Equitrans Midstream from a “neutral” rating to an “underperform” rating in a research report on Wednesday, August 19th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Equitrans Midstream has a consensus rating of “Hold” and a consensus target price of $11.41.

NASDAQ:ETRN opened at $8.12 on Friday. Equitrans Midstream has a 12 month low of $3.75 and a 12 month high of $15.24. The company’s 50 day moving average is $9.13 and its 200-day moving average is $8.71.

Institutional investors and hedge funds have recently bought and sold shares of the business. Berman Capital Advisors LLC boosted its stake in Equitrans Midstream by 532.3% during the second quarter. Berman Capital Advisors LLC now owns 3,136 shares of the company’s stock worth $25,000 after buying an additional 2,640 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Equitrans Midstream by 85.6% during the first quarter. Clearbridge Investments LLC now owns 5,990 shares of the company’s stock worth $30,000 after buying an additional 2,762 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Equitrans Midstream during the second quarter worth $44,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Equitrans Midstream in the 2nd quarter valued at $48,000. Finally, CIBC World Markets Inc. acquired a new stake in shares of Equitrans Midstream in the 1st quarter valued at $61,000.

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.

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Earnings History and Estimates for Equitrans Midstream (NASDAQ:ETRN)

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