FY2022 EPS Estimates for Equitrans Midstream (NASDAQ:ETRN) Cut by Jefferies Financial Group
Equitrans Midstream (NASDAQ:ETRN) – Equities researchers at Jefferies Financial Group reduced their FY2022 earnings estimates for shares of Equitrans Midstream in a research note issued on Tuesday, October 15th. Jefferies Financial Group analyst C. Sighinolfi now expects that the company will post earnings of $1.83 per share for the year, down from their previous estimate of $1.90. Jefferies Financial Group also issued estimates for Equitrans Midstream’s FY2023 earnings at $1.85 EPS.
A number of other brokerages have also commented on ETRN. Barclays reissued a “hold” rating and set a $19.00 price objective on shares of Equitrans Midstream in a report on Wednesday. Zacks Investment Research lowered Equitrans Midstream from a “hold” rating to a “sell” rating in a report on Monday, July 29th. Royal Bank of Canada set a $19.00 target price on Equitrans Midstream and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, UBS Group raised Equitrans Midstream from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Equitrans Midstream has a consensus rating of “Hold” and a consensus target price of $21.89.
Equitrans Midstream (NASDAQ:ETRN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.54 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.18. The company had revenue of $406.17 million for the quarter, compared to analyst estimates of $413.30 million.
In other news, CFO Kirk R. Oliver acquired 13,700 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $16.10 per share, with a total value of $220,570.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Thomas F. Karam acquired 100,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were purchased at an average cost of $16.11 per share, for a total transaction of $1,611,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 121,450 shares of company stock worth $1,956,423 in the last ninety days.
Large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Equitrans Midstream during the 2nd quarter worth approximately $25,000. Marshall Wace North America L.P. acquired a new stake in shares of Equitrans Midstream during the 1st quarter worth approximately $72,000. Machina Capital S.A.S. acquired a new stake in shares of Equitrans Midstream during the 2nd quarter worth approximately $80,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Equitrans Midstream during the 2nd quarter worth approximately $104,000. Finally, Bank of Montreal Can grew its holdings in shares of Equitrans Midstream by 11.4% during the 2nd quarter. Bank of Montreal Can now owns 9,156 shares of the company’s stock worth $181,000 after purchasing an additional 935 shares in the last quarter.
About Equitrans Midstream
Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.
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