Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Equitrans Midstream Co. (NYSE:ETRN – Get Rating) by 75.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 33,285 shares of the company’s stock after selling 102,590 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Equitrans Midstream were worth $212,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of ETRN. Signaturefd LLC lifted its holdings in Equitrans Midstream by 51.4% during the 1st quarter. Signaturefd LLC now owns 4,114 shares of the company’s stock worth $35,000 after buying an additional 1,397 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in Equitrans Midstream by 11.8% in the first quarter. Maverick Capital Ltd. now owns 14,713 shares of the company’s stock worth $124,000 after purchasing an additional 1,558 shares during the period. Strs Ohio boosted its holdings in Equitrans Midstream by 16.5% in the second quarter. Strs Ohio now owns 13,400 shares of the company’s stock worth $85,000 after purchasing an additional 1,900 shares during the period. Los Angeles Capital Management LLC increased its stake in Equitrans Midstream by 0.5% during the second quarter. Los Angeles Capital Management LLC now owns 487,826 shares of the company’s stock valued at $3,103,000 after purchasing an additional 2,320 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its holdings in shares of Equitrans Midstream by 8.6% during the first quarter. Advisor Group Holdings Inc. now owns 29,538 shares of the company’s stock worth $257,000 after purchasing an additional 2,349 shares during the period. 92.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. TheStreet downgraded shares of Equitrans Midstream from a “c-” rating to a “d” rating in a research report on Monday, September 26th. Royal Bank of Canada lowered their target price on Equitrans Midstream from $10.00 to $9.00 and set a “sector perform” rating for the company in a report on Wednesday, November 2nd. Wells Fargo & Company reduced their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, November 7th. Wolfe Research cut Equitrans Midstream from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 19th. Finally, Bank of America lowered shares of Equitrans Midstream from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $9.00 to $6.50 in a research report on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.69.
Equitrans Midstream Price Performance
Equitrans Midstream (NYSE:ETRN – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). Equitrans Midstream had a negative net margin of 153.15% and a positive return on equity of 8.31%. The business had revenue of $331.75 million for the quarter, compared to the consensus estimate of $364.03 million. As a group, sell-side analysts predict that Equitrans Midstream Co. will post 0.56 earnings per share for the current fiscal year.
Equitrans Midstream Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Wednesday, November 2nd were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $0.60 annualized dividend and a yield of 7.49%. Equitrans Midstream’s dividend payout ratio (DPR) is -13.19%.
Equitrans Midstream Company Profile
Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.
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