Equitrans Midstream Co. (NYSE:ETRN) Stake Lowered by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in shares of Equitrans Midstream Co. (NYSE:ETRN) by 34.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 268,066 shares of the company’s stock after selling 139,768 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of Equitrans Midstream worth $2,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Equitrans Midstream by 3.5% in the third quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company’s stock valued at $440,746,000 after purchasing an additional 1,572,136 shares during the period. Blackstone Inc. increased its position in Equitrans Midstream by 18.8% in the 3rd quarter. Blackstone Inc. now owns 7,573,498 shares of the company’s stock valued at $70,964,000 after acquiring an additional 1,197,991 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased 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 acquiring an additional 197,463 shares during the period. American Century Companies Inc. raised its stake in Equitrans Midstream by 17.5% during the 3rd quarter. American Century Companies Inc. now owns 3,941,405 shares of the company’s stock valued at $36,931,000 after acquiring an additional 586,997 shares in the last quarter. Finally, Recurrent Investment Advisors LLC boosted its position in Equitrans Midstream by 55.5% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 3,875,686 shares of the company’s stock worth $36,315,000 after acquiring an additional 1,383,451 shares during the period. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Trading Up 0.5 %

Shares of NYSE ETRN opened at $13.73 on Tuesday. The business has a 50 day simple moving average of $12.06 and a 200 day simple moving average of $10.63. Equitrans Midstream Co. has a 52 week low of $5.06 and a 52 week high of $14.21. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 1.85 and a beta of 1.93. 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 posted its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The firm had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. During the same period in the prior year, the business posted $0.22 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Equitrans Midstream Co. will post 0.86 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, May 6th. This represents a $0.60 annualized dividend and a yield of 4.37%. Equitrans Midstream’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

A number of research firms recently commented on ETRN. Morgan Stanley lowered their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 22nd. US Capital Advisors cut Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Barclays upped their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Equitrans Midstream in a report on Thursday, March 7th. Finally, Wells Fargo & Company upped their price target on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.19.

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.