Equitrans Midstream (NYSE:ETRN) Sets New 1-Year High at $12.95

Equitrans Midstream Co. (NYSE:ETRN) hit a new 52-week high on Wednesday . The company traded as high as $12.95 and last traded at $12.85, with a volume of 774392 shares traded. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ETRN shares. Wells Fargo & Company lowered shares of Equitrans Midstream from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $9.00 to $10.00 in a report on Thursday, December 14th. Morgan Stanley decreased their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. TheStreet upgraded shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a report on Wednesday, December 27th. Finally, 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 research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.86.

Equitrans Midstream Stock Performance

The business’s 50-day moving average price is $11.19 and its 200-day moving average price is $10.22. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $5.58 billion, a P/E ratio of 14.38, a P/E/G ratio of 1.67 and a beta of 1.97.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The firm had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, sell-side analysts expect that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Monday, February 5th. Equitrans Midstream’s payout ratio is 67.42%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ETRN. Advisor Group Holdings Inc. boosted its holdings in Equitrans Midstream by 8.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 29,538 shares of the company’s stock worth $257,000 after buying an additional 2,349 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Equitrans Midstream by 2.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 206,910 shares of the company’s stock worth $1,746,000 after buying an additional 4,523 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Equitrans Midstream by 141.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,482 shares of the company’s stock worth $308,000 after buying an additional 21,372 shares during the period. AlphaCrest Capital Management LLC bought a new position in Equitrans Midstream in the 1st quarter worth $160,000. Finally, Rhumbline Advisers lifted its stake in Equitrans Midstream by 2.3% in the 1st quarter. Rhumbline Advisers now owns 1,311,185 shares of the company’s stock worth $11,066,000 after purchasing an additional 29,595 shares in the last quarter. Institutional investors own 87.35% of the company’s stock.

About Equitrans Midstream

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.