Brokerages Set Equitrans Midstream Co. (NYSE:ETRN) Target Price at $10.86

Equitrans Midstream Co. (NYSE:ETRN) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $10.86.

ETRN has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a research report on Thursday, March 7th. TheStreet upgraded Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, December 27th. Barclays lifted their target price on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Wells Fargo & Company downgraded Equitrans Midstream from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $9.00 to $10.00 in a research report on Thursday, December 14th.

Equitrans Midstream Stock Up 0.2 %

Shares of ETRN opened at $12.80 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. Equitrans Midstream has a 12 month low of $4.60 and a 12 month high of $12.98. The stock’s 50 day moving average is $11.19 and its two-hundred day moving average is $10.22. The firm has a market cap of $5.58 billion, a P/E ratio of 14.38, a PEG ratio of 1.67 and a beta of 1.97.

Equitrans Midstream (NYSE:ETRN) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The firm had revenue of $360.60 million for the quarter, compared to analyst estimates of $348.04 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue was up 1.5% on a year-over-year basis. Analysts predict that Equitrans Midstream will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, February 5th. Equitrans Midstream’s dividend payout ratio is currently 67.42%.

Institutional Investors Weigh In On Equitrans Midstream

A number of large investors have recently bought and sold shares of ETRN. Advisor Group Holdings Inc. boosted its holdings in shares of Equitrans Midstream by 8.6% during the first quarter. Advisor Group Holdings Inc. now owns 29,538 shares of the company’s stock worth $257,000 after purchasing an additional 2,349 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Equitrans Midstream by 2.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 206,910 shares of the company’s stock worth $1,746,000 after purchasing an additional 4,523 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Equitrans Midstream by 141.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,482 shares of the company’s stock worth $308,000 after buying an additional 21,372 shares during the period. AlphaCrest Capital Management LLC purchased a new position in shares of Equitrans Midstream in the 1st quarter worth $160,000. Finally, Rhumbline Advisers raised its position in shares of Equitrans Midstream by 2.3% in the 1st quarter. Rhumbline Advisers now owns 1,311,185 shares of the company’s stock worth $11,066,000 after buying an additional 29,595 shares during the period. Institutional investors and hedge funds own 87.35% of the company’s stock.

About Equitrans Midstream

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.