Equitrans Midstream Target of Unusually Large Options Trading (NYSE:ETRN)


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Equitrans Midstream Co. (NYSE:ETRN) saw some unusual options trading activity on Wednesday. Stock traders bought 1,528 put options on the stock. This represents an increase of approximately 1,598% compared to the average volume of 90 put options.

Several large investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC acquired a new stake in shares of Equitrans Midstream during the third quarter valued at about $1,175,000. Nuveen Asset Management LLC lifted its position in shares of Equitrans Midstream by 79.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,032,084 shares of the company’s stock worth $8,576,000 after buying an additional 455,603 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Equitrans Midstream during the 3rd quarter worth approximately $252,000. M&T Bank Corp lifted its position in shares of Equitrans Midstream by 70.9% during the 3rd quarter. M&T Bank Corp now owns 18,758 shares of the company’s stock worth $158,000 after buying an additional 7,785 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Equitrans Midstream by 37.7% during the 3rd quarter. Victory Capital Management Inc. now owns 46,063 shares of the company’s stock worth $390,000 after buying an additional 12,617 shares during the last quarter. 86.11% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:ETRN opened at $8.47 on Thursday. The company’s 50-day moving average price is $8.09 and its 200-day moving average price is $8.00. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.90. The company has a market cap of $3.66 billion, a P/E ratio of -26.47 and a beta of 2.24. Equitrans Midstream has a twelve month low of $3.75 and a twelve month high of $13.57.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. The firm had revenue of $350.00 million for the quarter, compared to the consensus estimate of $349.23 million. Equitrans Midstream had a net margin of 1.40% and a return on equity of 15.27%. On average, analysts expect that Equitrans Midstream will post 1.29 earnings per share for the current year.

Several analysts recently commented on ETRN shares. ValuEngine upgraded shares of Equitrans Midstream from a “strong sell” rating to a “sell” rating in a research report on Friday, December 11th. Bank of America raised shares of Equitrans Midstream from an “underperform” rating to a “neutral” rating in a report on Wednesday, November 18th. Morgan Stanley started coverage on shares of Equitrans Midstream in a report on Friday, September 25th. They set an “equal weight” rating and a $10.00 price objective on the stock. Credit Suisse Group decreased their price objective on shares of Equitrans Midstream from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, November 12th. Finally, BidaskClub downgraded shares of Equitrans Midstream from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 14th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $11.32.

Equitrans Midstream Company Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. The Gathering System segment include 990 miles of high-pressure gathering lines with compression of approximately 445,000 horsepower and multiple interconnect points; and approximately 920 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.

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