Mutual of America Capital Management LLC Sells 30,550 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Mutual of America Capital Management LLC lessened its stake in Equitrans Midstream Co. (NYSE:ETRNGet Rating) by 8.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 340,215 shares of the company’s stock after selling 30,550 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Equitrans Midstream were worth $2,164,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETRN. Capital International Investors grew its holdings in Equitrans Midstream by 5.9% during the first quarter. Capital International Investors now owns 49,239,507 shares of the company’s stock valued at $415,696,000 after purchasing an additional 2,749,573 shares during the period. Dimensional Fund Advisors LP raised its position in Equitrans Midstream by 29.0% during the first quarter. Dimensional Fund Advisors LP now owns 10,883,478 shares of the company’s stock worth $91,859,000 after acquiring an additional 2,444,950 shares in the last quarter. Key Square Capital Management LLC acquired a new position in shares of Equitrans Midstream in the first quarter valued at $11,538,000. Miller Howard Investments Inc. NY increased its holdings in shares of Equitrans Midstream by 263.8% in the second quarter. Miller Howard Investments Inc. NY now owns 1,656,926 shares of the company’s stock valued at $10,538,000 after purchasing an additional 1,201,474 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Equitrans Midstream by 2.8% in the first quarter. Vanguard Group Inc. now owns 42,790,372 shares of the company’s stock valued at $361,151,000 after purchasing an additional 1,145,681 shares during the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Wall Street Analyst Weigh In

ETRN has been the topic of several research reports. TheStreet downgraded shares of Equitrans Midstream from a “c-” rating to a “d” rating in a report on Monday, September 26th. Wells Fargo & Company decreased their price target on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, November 7th. Bank of America downgraded shares of Equitrans Midstream from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $9.00 to $6.50 in a research note on Wednesday, September 28th. Wolfe Research downgraded shares of Equitrans Midstream from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 19th. Finally, Royal Bank of Canada decreased their price target on shares of Equitrans Midstream from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Equitrans Midstream has a consensus rating of “Hold” and an average target price of $8.69.

Equitrans Midstream Stock Down 2.1 %

ETRN stock opened at $8.01 on Thursday. The stock has a market capitalization of $3.48 billion, a P/E ratio of -1.76, a price-to-earnings-growth ratio of 5.35 and a beta of 1.94. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 4.67. Equitrans Midstream Co. has a 12 month low of $5.87 and a 12 month high of $11.22. The firm has a 50-day moving average price of $8.21 and a 200-day moving average price of $8.02.

Equitrans Midstream (NYSE:ETRNGet Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $331.75 million during the quarter, compared to the consensus estimate of $364.03 million. Equitrans Midstream had a positive return on equity of 8.31% and a negative net margin of 153.15%. As a group, equities research analysts anticipate that Equitrans Midstream Co. will post 0.56 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Wednesday, November 2nd were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $0.60 dividend on an annualized basis and a yield of 7.49%. Equitrans Midstream’s dividend payout ratio (DPR) is presently -13.19%.

About Equitrans Midstream

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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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Institutional Ownership by Quarter for Equitrans Midstream (NYSE:ETRN)

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