Wells Fargo & Company Boosts Equitrans Midstream (NYSE:ETRN) Price Target to $13.00

Equitrans Midstream (NYSE:ETRN) had its price objective boosted by Wells Fargo & Company from $12.00 to $13.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. US Capital Advisors cut Equitrans Midstream from an overweight rating to a hold rating in a research report on Monday, April 29th. Royal Bank of Canada restated an outperform rating and set a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Morgan Stanley decreased their price objective 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 upped their target price on Equitrans Midstream from $6.00 to $11.00 and gave the company an equal weight rating in a research note on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $11.19.

Equitrans Midstream Stock Up 1.6 %

Equitrans Midstream stock opened at $13.66 on Thursday. The firm’s 50 day moving average price is $12.06 and its two-hundred day moving average price is $10.63. The firm has a market cap of $5.92 billion, a PE ratio of 15.18, a P/E/G ratio of 1.85 and a beta of 1.93. Equitrans Midstream has a twelve month low of $4.65 and a twelve month high of $14.21. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63.

Equitrans Midstream (NYSE:ETRN) last issued its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The firm had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Equitrans Midstream will post 0.86 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

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

Institutional Investors Weigh In On Equitrans Midstream

Institutional investors and hedge funds have recently made changes to their positions in the company. Metis Global Partners LLC grew its holdings in Equitrans Midstream by 8.0% during the 4th quarter. Metis Global Partners LLC now owns 16,868 shares of the company’s stock worth $172,000 after acquiring an additional 1,247 shares during the period. Retirement Systems of Alabama boosted its holdings in Equitrans Midstream by 0.3% during the first quarter. Retirement Systems of Alabama now owns 544,067 shares of the company’s stock worth $6,795,000 after buying an additional 1,430 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Equitrans Midstream by 25.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 7,187 shares of the company’s stock worth $90,000 after buying an additional 1,471 shares during the period. Donoghue Forlines LLC increased its stake in shares of Equitrans Midstream by 3.9% in the 4th quarter. Donoghue Forlines LLC now owns 43,216 shares of the company’s stock valued at $440,000 after acquiring an additional 1,626 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Equitrans Midstream by 5.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock valued at $312,000 after acquiring an additional 1,635 shares during the last quarter. Institutional investors 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.