Equitrans Midstream (NYSE:ETRN) Reaches New 52-Week High at $14.60

Equitrans Midstream Co. (NYSE:ETRN) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.60 and last traded at $14.29, with a volume of 14540498 shares traded. The stock had previously closed at $13.84.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ETRN shares. Wells Fargo & Company upped their target price on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. US Capital Advisors cut Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Barclays upped their target price on 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 decreased their price target 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. 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Equitrans Midstream presently has an average rating of “Hold” and an average target price of $11.19.

Equitrans Midstream Trading Up 1.6 %

The company has a debt-to-equity ratio of 4.88, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a fifty day simple moving average of $12.78 and a 200-day simple moving average of $11.05. The firm has a market cap of $6.10 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 11.07 and a beta of 1.93.

Equitrans Midstream (NYSE:ETRN) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $364.27 million for the quarter, compared to analyst estimates of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities research analysts expect that Equitrans Midstream Co. will post 0.85 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, May 6th. Equitrans Midstream’s payout ratio is 66.67%.

Institutional Trading of Equitrans Midstream

A number of institutional investors and hedge funds have recently modified their holdings of the business. Levin Capital Strategies L.P. purchased a new position in shares of Equitrans Midstream in the fourth quarter valued at $204,000. Envestnet Asset Management Inc. boosted its stake in Equitrans Midstream by 125.3% during the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after buying an additional 287,176 shares during the period. Valueworks LLC boosted its stake in Equitrans Midstream by 14.7% during the third quarter. Valueworks LLC now owns 765,213 shares of the company’s stock valued at $7,170,000 after buying an additional 97,940 shares during the period. Qube Research & Technologies Ltd bought a new stake in Equitrans Midstream during the third quarter valued at $2,555,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Equitrans Midstream by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,914,514 shares of the company’s stock valued at $39,850,000 after buying an additional 13,183 shares during the period. 87.35% of the stock is owned by hedge funds and other institutional investors.

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.