Equitrans Midstream (NYSE:ETRN) PT Raised to $13.00

Equitrans Midstream (NYSE:ETRN) had its target price hoisted by research analysts at Wells Fargo & Company from $12.00 to $13.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 4.83% from the company’s current price.

A number of other research analysts have also issued reports on ETRN. Morgan Stanley decreased their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 22nd. 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. US Capital Advisors downgraded shares of Equitrans Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Barclays raised their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.19.

Equitrans Midstream Trading Up 1.6 %

Shares of ETRN traded up $0.22 during trading on Thursday, reaching $13.66. 4,280,023 shares of the company traded hands, compared to its average volume of 6,202,465. The stock has a 50-day simple moving average of $12.06 and a 200-day simple moving average of $10.62. The company has a quick ratio of 0.76, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. Equitrans Midstream has a twelve month low of $4.65 and a twelve month high of $14.21. The stock has a market cap of $5.92 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.82 and a beta of 1.93.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Equitrans Midstream during the 1st quarter valued at $25,000. Harvest Fund Management Co. Ltd purchased a new stake in Equitrans Midstream during the fourth quarter valued at about $39,000. AlphaMark Advisors LLC increased its stake in Equitrans Midstream by 66.2% during the third quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock worth $53,000 after acquiring an additional 2,250 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Equitrans Midstream in the 1st quarter worth about $54,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Equitrans Midstream in the 3rd quarter valued at about $55,000. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

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.