Brokerages Set Equitrans Midstream Co. (NYSE:ETRN) PT at $11.19

Equitrans Midstream Co. (NYSE:ETRN) has received a consensus recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $11.19.

ETRN has been the subject of a number of recent research reports. Barclays boosted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Wells Fargo & Company increased their price target on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a report on Thursday, March 7th. Morgan Stanley lowered their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. Finally, US Capital Advisors cut shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th.

Equitrans Midstream Price Performance

Shares of NYSE:ETRN opened at $13.73 on Friday. Equitrans Midstream has a twelve month low of $5.06 and a twelve month high of $14.21. The stock’s 50 day moving average is $12.06 and its 200-day moving average is $10.63. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.85 and a beta of 1.93.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.22 earnings per share. Sell-side analysts forecast that Equitrans Midstream will post 0.86 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s payout ratio is 66.67%.

Institutional Investors Weigh In On Equitrans Midstream

Large investors have recently modified their holdings of the stock. Levin Capital Strategies L.P. purchased a new stake in Equitrans Midstream in the fourth quarter worth $204,000. Envestnet Asset Management Inc. raised its stake in Equitrans Midstream by 125.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after acquiring an additional 287,176 shares during the period. Valueworks LLC raised its stake in Equitrans Midstream by 14.7% in the 3rd quarter. Valueworks LLC now owns 765,213 shares of the company’s stock valued at $7,170,000 after acquiring an additional 97,940 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Equitrans Midstream during the third quarter valued at about $2,555,000. Finally, Advisors Capital Management LLC bought a new position in Equitrans Midstream during the third quarter worth about $3,533,000. Hedge funds and other 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.