Raymond James Financial Services Advisors Inc. Sells 5,965 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Raymond James Financial Services Advisors Inc. trimmed its position in shares of Equitrans Midstream Co. (NYSE:ETRNGet Rating) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 197,980 shares of the company’s stock after selling 5,965 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Equitrans Midstream were worth $1,481,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Maverick Capital Ltd. lifted its stake 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 acquiring an additional 1,558 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Equitrans Midstream by 2.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 60,039 shares of the company’s stock worth $449,000 after purchasing an additional 1,585 shares during the period. Strs Ohio boosted its stake in shares of Equitrans Midstream by 16.5% during the 2nd quarter. Strs Ohio now owns 13,400 shares of the company’s stock valued at $85,000 after purchasing an additional 1,900 shares in the last quarter. Mackenzie Financial Corp increased its position in shares of Equitrans Midstream by 0.9% during the third quarter. Mackenzie Financial Corp now owns 208,250 shares of the company’s stock valued at $1,558,000 after buying an additional 1,934 shares during the period. Finally, Captrust Financial Advisors increased its position in shares of Equitrans Midstream by 50.6% during the second quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock valued at $42,000 after buying an additional 2,244 shares during the period. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Equitrans Midstream Stock Down 2.0 %

NYSE:ETRN opened at $6.90 on Friday. The company has a debt-to-equity ratio of 4.67, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $3.00 billion, a P/E ratio of -1.52, a P/E/G ratio of 5.94 and a beta of 1.95. Equitrans Midstream Co. has a fifty-two week low of $5.87 and a fifty-two week high of $10.90. The firm has a 50-day simple moving average of $7.38 and a two-hundred day simple moving average of $7.97.

Equitrans Midstream (NYSE:ETRNGet Rating) last posted its quarterly 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). Equitrans Midstream had a negative net margin of 153.15% and a positive return on equity of 8.31%. The firm had revenue of $331.75 million for the quarter, compared to analysts’ expectations of $364.03 million. Analysts predict that Equitrans Midstream Co. will post 0.46 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Wednesday, November 2nd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.70%. The ex-dividend date was Tuesday, November 1st. Equitrans Midstream’s dividend payout ratio is currently -13.19%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada cut their price objective on Equitrans Midstream from $10.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 2nd. Barclays reduced their price target on Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company lowered Equitrans Midstream from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $12.00 to $8.00 in a research report on Friday, December 16th. Citigroup started coverage on shares of Equitrans Midstream in a research report on Thursday, December 8th. They issued a “neutral” rating and a $8.00 target price on the stock. Finally, Wolfe Research cut shares of Equitrans Midstream from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.17.

About Equitrans Midstream

(Get Rating)

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.

Featured Articles

Want to see what other hedge funds are holding ETRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitrans Midstream Co. (NYSE:ETRNGet Rating).

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

Receive News & Ratings for Equitrans Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Equitrans Midstream and related companies with MarketBeat.com's FREE daily email newsletter.