Equitrans Midstream (NYSE:ETRN) Reaches New 1-Year High at $13.80

Equitrans Midstream Co. (NYSE:ETRN)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $13.80 and last traded at $13.80, with a volume of 288 shares trading hands. The stock had previously closed at $13.74.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Equitrans Midstream in a research note on Thursday, March 7th. Morgan Stanley reduced their price objective on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Finally, Barclays lifted their price target 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 investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.86.

Equitrans Midstream Price Performance

The company has a fifty day simple moving average of $11.89 and a two-hundred day simple moving average of $10.55. The stock has a market capitalization of $5.91 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.83 and a beta of 1.97. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, beating 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 business had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Equitrans Midstream’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s dividend payout ratio (DPR) is presently 67.42%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in Equitrans Midstream during the first quarter worth $25,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Equitrans Midstream during the 4th quarter worth $39,000. AlphaMark Advisors LLC lifted its position in shares of Equitrans Midstream by 66.2% during the 3rd quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after buying an additional 2,250 shares during the last quarter. Mather Group LLC. acquired a new stake in Equitrans Midstream in the first quarter valued at about $54,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Equitrans Midstream in the third quarter valued at about $55,000. 87.35% of the stock is owned by institutional investors.

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.