Equitrans Midstream (NYSE:ETRN) Sets New 1-Year High at $13.80

Equitrans Midstream Co. (NYSE:ETRN) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $13.80 and last traded at $13.80, with a volume of 288 shares traded. The stock had previously closed at $13.74.

Analyst Ratings Changes

ETRN has been the subject of a number of research analyst reports. Barclays lifted their price objective 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 lowered their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. 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 Trading Up 0.4 %

The stock has a market capitalization of $6.02 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.83 and a beta of 1.97. The firm’s 50 day moving average price is $11.77 and its 200 day moving average price is $10.49. 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 (NYSE:ETRN) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.16 by $0.16. The firm had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. As a group, equities research analysts expect that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s dividend payout ratio is currently 67.42%.

Hedge Funds Weigh In On Equitrans Midstream

Several hedge funds and other institutional investors have recently modified their holdings of ETRN. Rise Advisors LLC purchased a new position in shares of Equitrans Midstream during the first quarter valued at about $25,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Equitrans Midstream during the fourth quarter valued at about $39,000. AlphaMark Advisors LLC increased its position in shares of Equitrans Midstream by 66.2% during the third quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock valued at $53,000 after buying an additional 2,250 shares during the period. Mather Group LLC. purchased a new stake in Equitrans Midstream in the first quarter worth about $54,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Equitrans Midstream in the third quarter worth about $55,000. Hedge funds and other institutional investors own 87.35% of the company’s stock.

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.