California Public Employees Retirement System Sells 47,387 Shares of Equitrans Midstream Co. (NYSE:ETRN)

California Public Employees Retirement System lowered its stake in shares of Equitrans Midstream Co. (NYSE:ETRN) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 762,558 shares of the company’s stock after selling 47,387 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Equitrans Midstream worth $7,763,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ETRN. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Equitrans Midstream by 5.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock valued at $312,000 after purchasing an additional 1,635 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Equitrans Midstream by 23.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,988 shares of the company’s stock valued at $862,000 after buying an additional 17,287 shares during the last quarter. Strs Ohio raised its position in Equitrans Midstream by 38.9% in the 3rd quarter. Strs Ohio now owns 52,800 shares of the company’s stock valued at $494,000 after buying an additional 14,800 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in Equitrans Midstream by 0.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 189,541 shares of the company’s stock valued at $1,689,000 after buying an additional 1,681 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in Equitrans Midstream by 5.0% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 4,129,822 shares of the company’s stock valued at $38,696,000 after buying an additional 197,463 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. US Capital Advisors lowered Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company boosted their price target on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research report on Thursday, March 7th. Barclays boosted their price target on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Morgan Stanley lowered their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Equitrans Midstream presently has an average rating of “Hold” and an average price target of $11.19.

Equitrans Midstream Stock Up 1.7 %

ETRN stock opened at $13.67 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.76 and a debt-to-equity ratio of 4.88. The firm has a market capitalization of $5.96 billion, a PE ratio of 15.18, a PEG ratio of 1.75 and a beta of 1.93. Equitrans Midstream Co. has a 1-year low of $4.65 and a 1-year high of $14.21. The business’s 50 day simple moving average is $12.00 and its 200 day simple moving average is $10.59.

Equitrans Midstream (NYSE:ETRN) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $364.27 million for the quarter, compared to analyst estimates of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. As a group, research analysts anticipate that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be paid a $0.15 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.60 annualized dividend and a yield of 4.39%. Equitrans Midstream’s dividend payout ratio (DPR) is presently 66.67%.

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.