Louisiana State Employees Retirement System Invests $1.24 Million in Equitrans Midstream Co. (NYSE:ETRN)

Louisiana State Employees Retirement System bought a new position in Equitrans Midstream Co. (NYSE:ETRN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 121,700 shares of the company’s stock, valued at approximately $1,239,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ETRN. IFP Advisors Inc boosted its position in Equitrans Midstream by 688.2% during the 3rd quarter. IFP Advisors Inc now owns 12,604 shares of the company’s stock worth $118,000 after buying an additional 11,005 shares during the period. Balboa Wealth Partners acquired a new position in shares of Equitrans Midstream during the third quarter worth $282,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Equitrans Midstream by 5.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock worth $312,000 after purchasing an additional 1,635 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Equitrans Midstream by 23.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,988 shares of the company’s stock valued at $862,000 after purchasing an additional 17,287 shares during the period. Finally, Strs Ohio raised its position in Equitrans Midstream by 38.9% during the 3rd quarter. Strs Ohio now owns 52,800 shares of the company’s stock worth $494,000 after purchasing an additional 14,800 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Price Performance

Shares of ETRN opened at $12.86 on Tuesday. Equitrans Midstream Co. has a 52-week low of $4.65 and a 52-week high of $13.06. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50 day moving average price is $11.51 and its two-hundred day moving average price is $10.38. The firm has a market cap of $5.61 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.66 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, beating the consensus estimate 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 firm earned $0.13 earnings per share. The company’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts anticipate that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ETRN shares. TheStreet raised Equitrans Midstream from a “d+” rating to a “c-” rating in a research note on Wednesday, December 27th. Barclays lifted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Finally, Morgan Stanley cut their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.86.

Equitrans Midstream Company Profile

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.