Tidewater Midstream and Infrastructure (TSE:TWM) Hits New 52-Week High – Here’s Why

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$22.52 and last traded at C$22.14, with a volume of 55000 shares trading hands. The stock had previously closed at C$21.87.

Analyst Upgrades and Downgrades

TWM has been the subject of a number of research analyst reports. Scotiabank lifted their target price on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a “sector perform” rating in a report on Tuesday. National Bank Financial upgraded Tidewater Midstream and Infrastructure from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$17.00 to C$25.00 in a report on Tuesday. Scotia raised their price objective on shares of Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. ATB Cormark Capital Markets lifted their price objective on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$19.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada boosted their target price on shares of Tidewater Midstream and Infrastructure from C$11.00 to C$18.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tidewater Midstream and Infrastructure has an average rating of “Hold” and an average price target of C$20.00.

Tidewater Midstream and Infrastructure Stock Performance

The company has a market capitalization of C$481.87 million, a price-to-earnings ratio of -4.43, a P/E/G ratio of 0.64 and a beta of 0.11. The company has a 50 day moving average price of C$17.51 and a 200 day moving average price of C$11.62. The company has a debt-to-equity ratio of 368.12, a quick ratio of 0.55 and a current ratio of 0.91.

Tidewater Midstream and Infrastructure (TSE:TWM) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($1.24) earnings per share for the quarter. The firm had revenue of C$385.60 million for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 54.09% and a negative net margin of 7.71%. Equities research analysts predict that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 earnings per share for the current fiscal year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.