Russell Investments Group Ltd. Trims Stake in Equitrans Midstream Co. (NYSE:ETRN)

Russell Investments Group Ltd. lowered its position in Equitrans Midstream Co. (NYSE:ETRN) by 3.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 533,964 shares of the company’s stock after selling 21,278 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Equitrans Midstream worth $5,436,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new position in Equitrans Midstream in the 4th quarter worth $39,000. AlphaMark Advisors LLC boosted its holdings in Equitrans Midstream by 66.2% in 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 period. DekaBank Deutsche Girozentrale bought a new position in Equitrans Midstream in the 3rd quarter worth $55,000. Operose Advisors LLC bought a new position in Equitrans Midstream in the 3rd quarter worth $56,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Equitrans Midstream in the 3rd quarter worth $93,000. Institutional investors own 87.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Equitrans Midstream in a report on Thursday, March 7th. Morgan Stanley dropped their price objective 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. Wells Fargo & Company increased their price objective 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. Barclays increased their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. One equities 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.19.

Equitrans Midstream Stock Up 1.2 %

NYSE ETRN opened at $13.49 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. Equitrans Midstream Co. has a 52 week low of $5.17 and a 52 week high of $14.21. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.85 and a beta of 1.93. The company has a fifty day moving average of $12.25 and a two-hundred day moving average of $10.72.

Equitrans Midstream (NYSE:ETRN) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $345.79 million. During the same period in the previous year, the company earned $0.22 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, analysts predict that Equitrans Midstream Co. will post 0.86 earnings per share for the current year.

Equitrans Midstream Dividend Announcement

The firm 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 $0.15 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.60 annualized dividend and a dividend yield of 4.45%. Equitrans Midstream’s payout ratio is 66.67%.

Equitrans Midstream 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.