HRT Financial LP lowered its stake in Equitrans Midstream Co. (NYSE:ETRN – Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,027,422 shares of the company’s stock after selling 65,608 shares during the period. HRT Financial LP owned 0.24% of Equitrans Midstream worth $5,938,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its holdings 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 worth $42,000 after purchasing an additional 2,244 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Equitrans Midstream by 231.8% during the first quarter. Parallel Advisors LLC now owns 11,280 shares of the company’s stock worth $65,000 after purchasing an additional 7,880 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Equitrans Midstream during the first quarter worth $67,000. MQS Management LLC acquired a new position in shares of Equitrans Midstream during the fourth quarter worth $80,000. Finally, Cetera Investment Advisers acquired a new position in shares of Equitrans Midstream during the fourth quarter worth $80,000. Institutional investors and hedge funds own 86.68% of the company’s stock.
Analyst Upgrades and Downgrades
ETRN has been the topic of a number of recent research reports. US Capital Advisors upgraded shares of Equitrans Midstream from a “hold” rating to an “overweight” rating in a report on Wednesday, May 31st. JPMorgan Chase & Co. boosted their target price on shares of Equitrans Midstream from $9.50 to $11.00 in a report on Friday, June 9th. Citigroup boosted their target price on shares of Equitrans Midstream from $6.50 to $9.25 in a report on Tuesday, June 6th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a report on Tuesday, August 8th. Finally, Bank of America lifted their price target on shares of Equitrans Midstream from $5.00 to $9.00 in a research note on Thursday, June 8th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.69.
Equitrans Midstream Stock Up 2.1 %
Shares of NYSE:ETRN traded up $0.20 during midday trading on Monday, hitting $9.80. 2,440,300 shares of the company’s stock were exchanged, compared to its average volume of 5,972,136. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.87. The stock has a 50 day moving average price of $9.55 and a 200-day moving average price of $7.42. Equitrans Midstream Co. has a 12 month low of $4.60 and a 12 month high of $10.48.
Equitrans Midstream (NYSE:ETRN – Get Free Report) last posted its earnings results on Tuesday, August 1st. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $318.50 million during the quarter, compared to the consensus estimate of $311.21 million. Equitrans Midstream had a negative net margin of 18.60% and a positive return on equity of 20.49%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. Analysts anticipate that Equitrans Midstream Co. will post 0.56 EPS for the current year.
Equitrans Midstream Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.12%. The ex-dividend date of this dividend was Thursday, August 3rd. Equitrans Midstream’s dividend payout ratio (DPR) is presently -82.19%.
About Equitrans Midstream
Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. The company operates dry gas gathering systems of high-pressure gathering lines; FERC-regulated interstate pipelines and storage systems; and water pipelines and other facilities that deliver fresh water from local municipal water authorities, the Monongahela River, the Ohio River, local reservoirs, and several regional waterways.
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