Oregon Public Employees Retirement Fund Purchases New Holdings in Equitrans Midstream (ETRN)

Oregon Public Employees Retirement Fund purchased a new stake in Equitrans Midstream (NASDAQ:ETRN) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 78,648 shares of the company’s stock, valued at approximately $1,575,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Sound Shore Management Inc. CT bought a new stake in Equitrans Midstream during the 4th quarter worth about $102,793,000. Wedge Capital Management L L P NC bought a new stake in Equitrans Midstream during the 4th quarter worth about $66,668,000. Chickasaw Capital Management LLC bought a new stake in Equitrans Midstream during the 4th quarter worth about $28,762,000. Hennessy Advisors Inc. bought a new stake in Equitrans Midstream during the 4th quarter worth about $21,949,000. Finally, Victory Capital Management Inc. bought a new stake in Equitrans Midstream during the 4th quarter worth about $15,160,000.

Several equities analysts have recently issued reports on ETRN shares. Credit Suisse Group started coverage on Equitrans Midstream in a research report on Friday, December 14th. They set a “neutral” rating and a $25.00 target price for the company. Zacks Investment Research upgraded Equitrans Midstream from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Wednesday, January 9th. US Capital Advisors started coverage on Equitrans Midstream in a research report on Wednesday, November 14th. They set an “overweight” rating for the company. Barclays started coverage on Equitrans Midstream in a research report on Friday, December 7th. They set an “equal weight” rating and a $23.00 target price for the company. Finally, Wells Fargo & Co started coverage on Equitrans Midstream in a research report on Tuesday, November 13th. They set a “market perform” rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $24.17.

Shares of Equitrans Midstream stock traded down $0.07 during trading on Monday, hitting $18.89. 2,428 shares of the company were exchanged, compared to its average volume of 1,960,556. Equitrans Midstream has a 1-year low of $18.25 and a 1-year high of $23.47.

The business also recently announced a special dividend, which will be paid on Wednesday, February 27th. Stockholders of record on Friday, February 15th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, February 14th.

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Equitrans Midstream Profile

Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.

Further Reading: Growth Stocks

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Institutional Ownership by Quarter for Equitrans Midstream (NASDAQ:ETRN)

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