Equitrans Midstream (NYSE:ETRN) Hits New 12-Month High at $14.24

Equitrans Midstream Co. (NYSE:ETRN) hit a new 52-week high on Thursday . The stock traded as high as $14.24 and last traded at $14.09, with a volume of 2673976 shares changing hands. The stock had previously closed at $13.81.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ETRN. Wells Fargo & Company increased their price objective on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. US Capital Advisors lowered shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Morgan Stanley cut their price objective 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, Barclays increased their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. One investment 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, Equitrans Midstream has an average rating of “Hold” and an average target price of $11.19.

Equitrans Midstream Price Performance

The company’s 50 day simple moving average is $12.63 and its 200 day simple moving average is $10.94. 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 stock has a market cap of $6.03 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.85 and a beta of 1.93.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The company had revenue of $364.27 million during the quarter, compared to the consensus estimate of $345.79 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts forecast that Equitrans Midstream Co. will post 0.86 earnings per share for the current year.

Equitrans Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s dividend payout ratio is 66.67%.

Institutional Investors Weigh In On Equitrans Midstream

Several large investors have recently made changes to their positions in ETRN. Vanguard Group Inc. grew its position in Equitrans Midstream by 3.5% in the third quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock valued at $440,746,000 after purchasing an additional 1,572,136 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Equitrans Midstream by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,740,820 shares of the company’s stock valued at $88,982,000 after purchasing an additional 260,924 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Equitrans Midstream by 28.5% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company’s stock valued at $80,741,000 after purchasing an additional 1,758,270 shares in the last quarter. Blackstone Inc. grew its position in Equitrans Midstream by 18.8% in the third quarter. Blackstone Inc. now owns 7,573,498 shares of the company’s stock valued at $70,964,000 after purchasing an additional 1,197,991 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Equitrans Midstream by 28.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,251,814 shares of the company’s stock valued at $53,463,000 after purchasing an additional 1,151,348 shares in the last quarter. 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.