Harvest Fund Management Co. Ltd Makes New Investment in Equitrans Midstream Co. (NYSE:ETRN)

Harvest Fund Management Co. Ltd acquired a new position in Equitrans Midstream Co. (NYSE:ETRN) during the 4th quarter, HoldingsChannel reports. The fund acquired 3,846 shares of the company’s stock, valued at approximately $39,000.

Several other hedge funds have also bought and sold shares of the stock. AlphaMark Advisors LLC raised its stake in shares of 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 during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Equitrans Midstream during the 3rd quarter worth approximately $55,000. Operose Advisors LLC acquired a new position in shares of Equitrans Midstream during the 3rd quarter worth approximately $56,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Equitrans Midstream during the 3rd quarter worth approximately $93,000. Finally, IFP Advisors Inc raised its stake in shares of 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 during the period. Hedge funds and other institutional investors own 87.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley reduced their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Barclays increased their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Equitrans Midstream currently has an average rating of “Hold” and a consensus price target of $10.86.

Equitrans Midstream Stock Up 0.2 %

Shares of ETRN opened at $13.75 on Friday. Equitrans Midstream Co. has a 52-week low of $4.65 and a 52-week high of $13.80. The company has a market capitalization of $6.00 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.83 and a beta of 1.97. The stock has a fifty day simple moving average of $11.77 and a two-hundred day simple moving average of $10.48. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.83.

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

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is presently 67.42%.

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.