Wells Fargo & Company Raises Equitrans Midstream (NYSE:ETRN) Price Target to $13.00

Equitrans Midstream (NYSE:ETRN) had its price objective increased by Wells Fargo & Company from $12.00 to $13.00 in a research note published on Thursday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on ETRN. Morgan Stanley lowered their target price on Equitrans Midstream from $13.00 to $12.00 and set an overweight rating for the company in a report on Thursday, February 22nd. Royal Bank of Canada reiterated an outperform rating and issued a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Barclays increased their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an equal weight rating in a research note on Monday, February 26th. Finally, US Capital Advisors downgraded Equitrans Midstream from an overweight rating to a hold rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $11.19.

Equitrans Midstream Trading Up 1.6 %

Shares of Equitrans Midstream stock traded up $0.22 during trading hours on Thursday, hitting $13.66. The company’s stock had a trading volume of 4,280,023 shares, compared to its average volume of 6,202,465. The company has a market capitalization of $5.92 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.93. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.76. The stock has a 50 day moving average of $12.06 and a 200 day moving average of $10.62. Equitrans Midstream has a 12 month low of $4.65 and a 12 month high of $14.21.

Equitrans Midstream (NYSE:ETRN) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $364.27 million during the quarter, compared to analysts’ expectations of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. Equitrans Midstream’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. Analysts predict that Equitrans Midstream will post 0.86 earnings per share 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 issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.39%. Equitrans Midstream’s payout ratio is 66.67%.

Institutional Trading of Equitrans Midstream

Several institutional investors and hedge funds have recently bought and sold shares of the business. Metis Global Partners LLC increased its holdings in shares of Equitrans Midstream by 8.0% during the 4th quarter. Metis Global Partners LLC now owns 16,868 shares of the company’s stock worth $172,000 after acquiring an additional 1,247 shares during the last quarter. Retirement Systems of Alabama increased its holdings in shares of Equitrans Midstream by 0.3% in the first quarter. Retirement Systems of Alabama now owns 544,067 shares of the company’s stock valued at $6,795,000 after purchasing an additional 1,430 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Equitrans Midstream by 25.7% in the first quarter. Hexagon Capital Partners LLC now owns 7,187 shares of the company’s stock valued at $90,000 after purchasing an additional 1,471 shares during the last quarter. Donoghue Forlines LLC raised its position in shares of Equitrans Midstream by 3.9% in the fourth quarter. Donoghue Forlines LLC now owns 43,216 shares of the company’s stock valued at $440,000 after purchasing an additional 1,626 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Equitrans Midstream by 5.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock worth $312,000 after buying an additional 1,635 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

About Equitrans Midstream

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.