Equitrans Midstream (NYSE:ETRN) Hits New 12-Month Low at $5.45

Equitrans Midstream Co. (NYSE:ETRN – Get Rating) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $5.45 and last traded at $5.50, with a volume of 530129 shares. The stock had previously closed at $5.78.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ETRN shares. Barclays cut their price target on shares of Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 18th. The Goldman Sachs Group cut shares of Equitrans Midstream from a “buy” rating to a “sell” rating and cut their price target for the stock from $9.50 to $6.00 in a research note on Tuesday, January 31st. Citigroup started coverage on shares of Equitrans Midstream in a research note on Thursday, December 8th. They set a “neutral” rating and a $8.00 price target for the company. Finally, Wells Fargo & Company cut shares of Equitrans Midstream from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $12.00 to $8.00 in a research note on Friday, December 16th. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, Equitrans Midstream currently has a consensus rating of “Hold” and an average target price of $7.50.

Equitrans Midstream Stock Performance

The company has a market capitalization of $2.37 billion, a P/E ratio of -7.57, a PEG ratio of 4.73 and a beta of 1.96. The stock’s fifty day moving average price is $6.63 and its 200-day moving average price is $7.53. The company has a debt-to-equity ratio of 4.91, a quick ratio of 0.94 and a current ratio of 0.94.

Equitrans Midstream (NYSE:ETRN – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The company reported $0.13 EPS for the quarter, meeting analysts’ consensus estimates of $0.13. Equitrans Midstream had a negative net margin of 18.77% and a positive return on equity of 14.20%. The business had revenue of $355.24 million for the quarter, compared to analyst estimates of $336.26 million. During the same quarter in the prior year, the business earned ($0.07) EPS. Equitrans Midstream’s quarterly revenue was up 44.0% on a year-over-year basis. As a group, research analysts anticipate that Equitrans Midstream Co. will post 0.46 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Investors of record on Monday, February 6th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 11.01%. Equitrans Midstream’s dividend payout ratio (DPR) is currently -83.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mutual of America Capital Management LLC grew its stake in Equitrans Midstream by 2.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 347,377 shares of the company’s stock valued at $2,598,000 after buying an additional 7,162 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Equitrans Midstream by 11.7% during the 3rd quarter. Great West Life Assurance Co. Can now owns 339,355 shares of the company’s stock worth $2,538,000 after purchasing an additional 35,606 shares in the last quarter. Freestone Capital Holdings LLC grew its position in shares of Equitrans Midstream by 4.8% during the 3rd quarter. Freestone Capital Holdings LLC now owns 860,821 shares of the company’s stock worth $6,439,000 after purchasing an additional 39,656 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Equitrans Midstream during the 3rd quarter worth approximately $208,000. Finally, Strs Ohio grew its position in shares of Equitrans Midstream by 162.7% during the 3rd quarter. Strs Ohio now owns 35,200 shares of the company’s stock worth $263,000 after purchasing an additional 21,800 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

About Equitrans Midstream

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Equitrans Midstream Corp. engages in the provision of midstream services. It operates through the following segments: Gathering, Transmission, and Water. The Gathering segment includes EQM’s high-pressure gathering lines and FERC-regulated low-pressure gathering lines. The Transmission segment refers to the EQM’s FERC-regulated interstate pipelines and storage system.