Comerica Bank Purchases 8,995 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Comerica Bank boosted its position in Equitrans Midstream Co. (NYSE:ETRNGet Rating) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 196,352 shares of the company’s stock after buying an additional 8,995 shares during the quarter. Comerica Bank’s holdings in Equitrans Midstream were worth $1,559,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Texas Permanent School Fund grew its stake in shares of Equitrans Midstream by 1.6% during the 2nd quarter. Texas Permanent School Fund now owns 292,886 shares of the company’s stock worth $1,863,000 after acquiring an additional 4,660 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Equitrans Midstream by 28.4% in the second quarter. Oppenheimer & Co. Inc. now owns 274,880 shares of the company’s stock valued at $1,748,000 after acquiring an additional 60,730 shares during the last quarter. Strs Ohio boosted its holdings in shares of Equitrans Midstream by 162.7% in the 3rd quarter. Strs Ohio now owns 35,200 shares of the company’s stock valued at $263,000 after purchasing an additional 21,800 shares in the last quarter. State of Michigan Retirement System raised its stake in Equitrans Midstream by 5.4% during the third quarter. State of Michigan Retirement System now owns 109,102 shares of the company’s stock worth $816,000 after acquiring an additional 5,600 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Equitrans Midstream by 273.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 439,226 shares of the company’s stock valued at $2,791,000 after purchasing an additional 321,622 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ETRN shares. Wells Fargo & Company cut Equitrans Midstream from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $12.00 to $8.00 in a research note on Friday, December 16th. Bank of America cut Equitrans Midstream from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $9.00 to $6.50 in a report on Wednesday, September 28th. Wolfe Research downgraded shares of Equitrans Midstream from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 19th. TheStreet downgraded shares of Equitrans Midstream from a “c-” rating to a “d” rating in a research note on Monday, September 26th. Finally, Citigroup initiated coverage on Equitrans Midstream in a research report on Thursday, December 8th. They issued a “neutral” rating and a $8.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $8.17.

Equitrans Midstream Price Performance

Shares of ETRN opened at $6.94 on Friday. The business’s fifty day moving average is $7.33 and its 200 day moving average is $7.96. Equitrans Midstream Co. has a 12-month low of $5.87 and a 12-month high of $10.63. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.67. The stock has a market cap of $3.01 billion, a P/E ratio of -1.53, a P/E/G ratio of 5.94 and a beta of 1.95.

Equitrans Midstream (NYSE:ETRNGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $331.75 million during the quarter, compared to the consensus estimate of $364.03 million. Equitrans Midstream had a negative net margin of 153.15% and a positive return on equity of 8.31%. Sell-side analysts anticipate that Equitrans Midstream Co. will post 0.46 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Wednesday, November 2nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.65%. The ex-dividend date was Tuesday, November 1st. Equitrans Midstream’s dividend payout ratio (DPR) is currently -13.19%.

Equitrans Midstream Company Profile

(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.

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

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