American International Group Inc. Sells 13,580 Shares of Equitrans Midstream Co. (NYSE:ETRN)

American International Group Inc. lessened its holdings in shares of Equitrans Midstream Co. (NYSE:ETRN) by 1.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 785,375 shares of the company’s stock after selling 13,580 shares during the quarter. American International Group Inc. owned approximately 0.18% of Equitrans Midstream worth $9,809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ETRN. Norges Bank bought a new position in shares of Equitrans Midstream during the fourth quarter valued at approximately $50,093,000. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Equitrans Midstream by 28.5% during 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 acquiring an additional 1,758,270 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Equitrans Midstream during the fourth quarter valued at approximately $12,710,000. Goldman Sachs Group Inc. raised its holdings in shares of Equitrans Midstream by 28.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,251,814 shares of the company’s stock valued at $53,463,000 after acquiring an additional 1,151,348 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its holdings in shares of Equitrans Midstream by 107.5% during the fourth quarter. Eagle Global Advisors LLC now owns 2,010,680 shares of the company’s stock valued at $20,469,000 after acquiring an additional 1,041,900 shares in the last quarter. Institutional investors own 87.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ETRN. US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company increased their price objective on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley increased their price objective on Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.10.

Equitrans Midstream Stock Performance

Shares of NYSE ETRN remained flat at $12.42 during trading on Thursday. Equitrans Midstream Co. has a 1-year low of $8.57 and a 1-year high of $14.64. The company has a market cap of $5.43 billion, a P/E ratio of 13.80, a P/E/G ratio of 11.19 and a beta of 2.01. The stock has a 50-day moving average price of $13.42 and a 200 day moving average price of $12.22. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88.

Equitrans Midstream (NYSE:ETRN) last released its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The firm had revenue of $364.27 million for the quarter, compared to analysts’ expectations of $345.79 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, sell-side analysts predict that Equitrans Midstream Co. will post 0.75 EPS for the current year.

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.