US Capital Advisors Weighs in on Equitrans Midstream Co.’s FY2023 Earnings (NYSE:ETRN)

Equitrans Midstream Co. (NYSE:ETRN – Get Rating) – US Capital Advisors lifted their FY2023 earnings estimates for Equitrans Midstream in a note issued to investors on Friday, May 19th. US Capital Advisors analyst J. Carreker now forecasts that the company will post earnings per share of $0.53 for the year, up from their prior estimate of $0.48. The consensus estimate for Equitrans Midstream’s current full-year earnings is $0.52 per share. US Capital Advisors also issued estimates for Equitrans Midstream’s Q4 2023 earnings at $0.14 EPS, Q1 2024 earnings at $0.15 EPS, Q2 2024 earnings at $0.10 EPS, Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.16 EPS and FY2025 earnings at $0.99 EPS.

Equitrans Midstream (NYSE:ETRN – Get Rating) last posted its quarterly earnings data on Tuesday, May 2nd. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08. Equitrans Midstream had a negative net margin of 18.27% and a positive return on equity of 18.92%. The firm had revenue of $376.30 million for the quarter, compared to analyst estimates of $360.73 million. During the same period last year, the firm posted $0.14 EPS. Equitrans Midstream’s quarterly revenue was up 10.0% on a year-over-year basis.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group lowered shares of Equitrans Midstream from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $9.50 to $6.00 in a research report on Tuesday, January 31st. Barclays decreased their price objective on shares of Equitrans Midstream from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, April 10th. Citigroup decreased their price objective on shares of Equitrans Midstream from $8.00 to $6.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 4th. Finally, Raymond James initiated coverage on shares of Equitrans Midstream in a report on Friday, April 21st. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Equitrans Midstream Price Performance

Equitrans Midstream stock opened at $5.80 on Monday. Equitrans Midstream has a one year low of $4.60 and a one year high of $9.90. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.03 and a current ratio of 1.03. The business has a fifty day moving average of $5.21 and a two-hundred day moving average of $6.44. The company has a market cap of $2.51 billion, a P/E ratio of -8.06, a price-to-earnings-growth ratio of 0.83 and a beta of 1.95.

Equitrans Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, May 5th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.34%. The ex-dividend date was Thursday, May 4th. Equitrans Midstream’s dividend payout ratio (DPR) is -83.33%.

Insider Buying and Selling at Equitrans Midstream

In other news, CFO Kirk R. Oliver acquired 9,000 shares of the stock in a transaction on Thursday, March 16th. The stock was bought at an average price of $5.46 per share, with a total value of $49,140.00. Following the completion of the transaction, the chief financial officer now directly owns 39,118 shares of the company’s stock, valued at $213,584.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Equitrans Midstream

Several institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Equitrans Midstream by 34.8% during the first quarter. JPMorgan Chase & Co. now owns 3,243,899 shares of the company’s stock worth $18,750,000 after purchasing an additional 836,878 shares during the last quarter. Advisory Services Network LLC lifted its stake in Equitrans Midstream by 57.4% during the first quarter. Advisory Services Network LLC now owns 24,461 shares of the company’s stock worth $141,000 after purchasing an additional 8,916 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Equitrans Midstream by 8.3% during the first quarter. Thrivent Financial for Lutherans now owns 124,851 shares of the company’s stock worth $722,000 after purchasing an additional 9,575 shares during the last quarter. Chilton Capital Management LLC bought a new position in Equitrans Midstream during the first quarter worth $33,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Equitrans Midstream during the first quarter worth $61,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

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.