Equitrans Midstream Co. (NYSE:ETRN) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in Equitrans Midstream Co. (NYSE:ETRN) by 18.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 139,043 shares of the company’s stock after selling 31,109 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Equitrans Midstream were worth $1,415,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ETRN. AlphaMark Advisors LLC lifted its holdings in Equitrans Midstream by 66.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after buying an additional 2,250 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Equitrans Midstream during the 3rd quarter worth approximately $55,000. Operose Advisors LLC acquired a new stake in Equitrans Midstream during the 3rd quarter worth approximately $56,000. Allspring Global Investments Holdings LLC acquired a new stake in Equitrans Midstream during the 3rd quarter worth approximately $93,000. Finally, IFP Advisors Inc lifted its holdings in Equitrans Midstream by 688.2% during the 3rd quarter. IFP Advisors Inc now owns 12,604 shares of the company’s stock worth $118,000 after buying an additional 11,005 shares in the last quarter. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Equitrans Midstream Stock Up 2.1 %

Shares of NYSE:ETRN opened at $13.72 on Friday. The stock has a market cap of $5.99 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.79 and a beta of 1.97. The firm has a fifty day moving average price of $11.70 and a 200 day moving average price of $10.45. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76. Equitrans Midstream Co. has a 1-year low of $4.65 and a 1-year high of $13.75.

Equitrans Midstream (NYSE:ETRN) last released its earnings results on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.16 by $0.16. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The company had revenue of $360.60 million during the quarter, compared to analysts’ expectations of $348.04 million. During the same quarter last year, the business earned $0.13 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is presently 67.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ETRN shares. Barclays increased their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Morgan Stanley reduced their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.86.

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.