Q2 2024 Earnings Estimate for Equitrans Midstream Co. Issued By US Capital Advisors (NYSE:ETRN)

Equitrans Midstream Co. (NYSE:ETRN) – Investment analysts at US Capital Advisors reduced their Q2 2024 EPS estimates for Equitrans Midstream in a research report issued to clients and investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now anticipates that the company will post earnings per share of $0.04 for the quarter, down from their prior forecast of $0.09. US Capital Advisors has a “Hold” rating on the stock. The consensus estimate for Equitrans Midstream’s current full-year earnings is $0.86 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 topic of several other research reports. Morgan Stanley cut their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Barclays boosted their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. 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 report on Thursday, May 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Equitrans Midstream in a report on Thursday, March 7th. 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 company presently has a consensus rating of “Hold” and an average price target of $11.19.

Equitrans Midstream Stock Down 0.8 %

Shares of NYSE ETRN opened at $13.85 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. Equitrans Midstream has a 52 week low of $5.71 and a 52 week high of $14.31. The firm’s fifty day moving average is $12.78 and its 200 day moving average is $11.05. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.92 and a beta of 1.93.

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

Equitrans Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.33%. Equitrans Midstream’s dividend payout ratio (DPR) is presently 66.67%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Equitrans Midstream during the 1st quarter valued at approximately $25,000. Truvestments Capital LLC bought a new position in shares of Equitrans Midstream during the 1st quarter valued at approximately $29,000. Harvest Fund Management Co. Ltd bought a new position in shares of Equitrans Midstream during the 4th quarter valued at approximately $39,000. Mather Group LLC. bought a new position in shares of Equitrans Midstream during the 1st quarter valued at approximately $54,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Equitrans Midstream during the 3rd quarter valued at approximately $55,000. 87.35% of the stock is currently owned by institutional investors.

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.