Scotiabank Forecasts Strong Price Appreciation for Tidewater Midstream and Infrastructure (TSE:TWM) Stock

Tidewater Midstream and Infrastructure (TSE:TWM) had its price objective lifted by equities researchers at Scotiabank from C$17.00 to C$21.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s target price suggests a potential downside of 3.98% from the stock’s previous close.

Several other research firms have also recently weighed in on TWM. Royal Bank Of Canada raised their target price on shares of Tidewater Midstream and Infrastructure from C$11.00 to C$18.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Scotia upped their price target on shares of Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. National Bank Financial upgraded shares of Tidewater Midstream and Infrastructure from a “hold” rating to an “outperform” rating and increased their price target for the company from C$17.00 to C$25.00 in a research note on Tuesday. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$19.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$20.00.

Tidewater Midstream and Infrastructure Price Performance

TSE TWM opened at C$21.87 on Tuesday. The firm’s 50 day moving average is C$17.51 and its 200-day moving average is C$11.62. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 368.12. The company has a market capitalization of C$479.24 million, a PE ratio of -4.41, a price-to-earnings-growth ratio of 0.64 and a beta of 0.11. Tidewater Midstream and Infrastructure has a 12-month low of C$4.00 and a 12-month high of C$22.34.

Tidewater Midstream and Infrastructure (TSE:TWM) last released its earnings results on Thursday, May 7th. The company reported C($1.24) earnings per share for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 7.71% and a negative return on equity of 54.09%. The business had revenue of C$385.60 million during the quarter. Equities research analysts anticipate that Tidewater Midstream and Infrastructure will post 0.0199855 earnings per share for the current fiscal year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.