Hotchkis & Wiley Capital Management LLC Buys 1,758,270 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Hotchkis & Wiley Capital Management LLC raised its holdings in Equitrans Midstream Co. (NYSE:ETRN) by 28.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,931,370 shares of the company’s stock after acquiring an additional 1,758,270 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Equitrans Midstream were worth $80,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Seven Eight Capital LP raised its holdings in Equitrans Midstream by 13.8% during the fourth quarter. Seven Eight Capital LP now owns 82,746 shares of the company’s stock worth $842,000 after acquiring an additional 10,020 shares in the last quarter. Waterloo Capital L.P. bought a new stake in Equitrans Midstream during the fourth quarter worth about $819,000. Oppenheimer & Co. Inc. raised its stake in Equitrans Midstream by 271.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 408,290 shares of the company’s stock valued at $4,156,000 after buying an additional 298,290 shares during the period. Campbell & CO Investment Adviser LLC raised its stake in Equitrans Midstream by 304.1% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 99,559 shares of the company’s stock valued at $1,014,000 after buying an additional 74,921 shares during the period. Finally, TFO Wealth Partners LLC raised its stake in Equitrans Midstream by 95,076.2% in the fourth quarter. TFO Wealth Partners LLC now owns 19,987 shares of the company’s stock valued at $214,000 after buying an additional 19,966 shares during the period. 87.35% of the stock is owned by institutional investors and hedge funds.

Equitrans Midstream Trading Down 0.1 %

NYSE:ETRN traded down $0.01 during trading hours on Tuesday, hitting $14.30. 5,036,715 shares of the company were exchanged, compared to its average volume of 6,265,678. The stock has a market capitalization of $6.20 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 11.14 and a beta of 1.98. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. Equitrans Midstream Co. has a one year low of $8.44 and a one year high of $14.60. The company has a fifty day simple moving average of $13.42 and a 200 day simple moving average of $11.55.

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, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $364.27 million during 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%. Equitrans Midstream’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $0.22 EPS. Sell-side analysts expect that Equitrans Midstream Co. will post 0.85 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.20%. The ex-dividend date was Monday, May 6th. Equitrans Midstream’s dividend payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ETRN. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Morgan Stanley increased their target price on Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays increased their target price on Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Wells Fargo & Company increased their price target on Equitrans Midstream from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.10.

About Equitrans Midstream

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.