Cramer Rosenthal Mcglynn LLC increased its position in shares of Equitrans Midstream (NASDAQ:ETRN) by 27.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,122,648 shares of the company’s stock after purchasing an additional 454,094 shares during the period. Cramer Rosenthal Mcglynn LLC owned 0.83% of Equitrans Midstream worth $41,837,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Boston Partners raised its holdings in Equitrans Midstream by 0.4% during the first quarter. Boston Partners now owns 149,367 shares of the company’s stock worth $3,253,000 after purchasing an additional 611 shares in the last quarter. CIBC Asset Management Inc raised its holdings in Equitrans Midstream by 6.6% during the first quarter. CIBC Asset Management Inc now owns 11,123 shares of the company’s stock worth $242,000 after purchasing an additional 693 shares in the last quarter. Keeley Teton Advisors LLC raised its holdings in Equitrans Midstream by 1.8% during the second quarter. Keeley Teton Advisors LLC now owns 45,603 shares of the company’s stock worth $899,000 after purchasing an additional 815 shares in the last quarter. Bank of Montreal Can raised its holdings in Equitrans Midstream by 11.4% during the second quarter. Bank of Montreal Can now owns 9,156 shares of the company’s stock worth $181,000 after purchasing an additional 935 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in Equitrans Midstream by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 82,618 shares of the company’s stock worth $1,628,000 after purchasing an additional 1,163 shares in the last quarter.
Shares of NASDAQ ETRN traded up $0.15 during trading on Friday, hitting $13.45. The company had a trading volume of 6,143 shares, compared to its average volume of 2,172,685. Equitrans Midstream has a 52 week low of $12.31 and a 52 week high of $23.47. The business’s 50-day moving average is $14.46 and its 200 day moving average is $18.74.
Equitrans Midstream (NASDAQ:ETRN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.18. The company had revenue of $406.17 million during the quarter, compared to the consensus estimate of $413.30 million.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 13.38%. The ex-dividend date was Monday, August 12th.
In other news, Director Margaret K. Dorman bought 7,750 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $16.11 per share, with a total value of $124,852.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Thomas F. Karam bought 100,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $16.11 per share, for a total transaction of $1,611,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 121,450 shares of company stock worth $1,956,423.
Several equities research analysts recently commented on ETRN shares. Bank of America started coverage on Equitrans Midstream in a report on Monday, June 17th. They set a “neutral” rating and a $21.00 target price on the stock. Zacks Investment Research cut Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Royal Bank of Canada set a $19.00 target price on Equitrans Midstream and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, UBS Group assumed coverage on Equitrans Midstream in a report on Tuesday, August 6th. They issued a “neutral” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $22.11.
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.
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