Equitrans Midstream Co. (NYSE:ETRN) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its stake in Equitrans Midstream Co. (NYSE:ETRN) by 13.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,242,472 shares of the company’s stock after selling 348,972 shares during the quarter. Jennison Associates LLC’s holdings in Equitrans Midstream were worth $22,828,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ETRN. AlphaMark Advisors LLC boosted its holdings in Equitrans Midstream by 66.2% in the third quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock valued at $53,000 after purchasing an additional 2,250 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Equitrans Midstream in the third quarter valued at about $55,000. Operose Advisors LLC purchased a new position in Equitrans Midstream in the third quarter valued at about $56,000. Allspring Global Investments Holdings LLC purchased a new position in Equitrans Midstream in the third quarter valued at about $93,000. Finally, IFP Advisors Inc boosted its holdings in Equitrans Midstream by 688.2% in the third quarter. IFP Advisors Inc now owns 12,604 shares of the company’s stock valued at $118,000 after purchasing an additional 11,005 shares during the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on ETRN. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. 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 report on Thursday, February 22nd. Finally, Barclays increased their target price on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Equitrans Midstream has an average rating of “Hold” and a consensus target price of $10.86.

Equitrans Midstream Stock Up 2.1 %

Shares of Equitrans Midstream stock opened at $13.72 on Friday. Equitrans Midstream Co. has a twelve month low of $4.65 and a twelve month high of $13.75. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.79 and a beta of 1.97. The business’s 50 day simple moving average is $11.70 and its 200-day simple moving average is $10.45.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.16. The business had revenue of $360.60 million during the quarter, compared to analyst estimates of $348.04 million. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. Equities research analysts forecast that Equitrans Midstream Co. will post 0.87 earnings per share for the current year.

Equitrans Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.37%. Equitrans Midstream’s payout ratio is 67.42%.

Equitrans Midstream 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.