Truist Financial Corp Sells 1,582 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Truist Financial Corp reduced its stake in Equitrans Midstream Co. (NYSE:ETRN) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,550 shares of the company’s stock after selling 1,582 shares during the period. Truist Financial Corp’s holdings in Equitrans Midstream were worth $677,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new stake in Equitrans Midstream during the 4th quarter valued at about $39,000. AlphaMark Advisors LLC increased its position in shares of Equitrans Midstream by 66.2% during the third quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock valued at $53,000 after acquiring an additional 2,250 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Equitrans Midstream in the 3rd quarter worth approximately $55,000. Operose Advisors LLC bought a new position in Equitrans Midstream in the 3rd quarter valued at approximately $56,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Equitrans Midstream during the 3rd quarter valued at $93,000. 87.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ETRN has been the topic of several research analyst reports. Barclays upped their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company boosted their target price on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley dropped their price target on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.19.

Equitrans Midstream Stock Performance

Shares of ETRN opened at $13.81 on Thursday. Equitrans Midstream Co. has a 52 week low of $5.41 and a 52 week high of $14.21. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.81 and a beta of 1.93. The business has a 50-day simple moving average of $12.52 and a two-hundred day simple moving average of $10.88.

Equitrans Midstream (NYSE:ETRN) last released its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $364.27 million for 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%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. On average, analysts expect that Equitrans Midstream Co. will post 0.86 EPS for the current year.

Equitrans Midstream Dividend Announcement

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

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.