US Bancorp DE grew its position in shares of Equitrans Midstream Co. (NYSE:ETRN – Get Rating) by 82.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,238 shares of the company’s stock after acquiring an additional 16,821 shares during the quarter. US Bancorp DE’s holdings in Equitrans Midstream were worth $279,000 at the end of the most recent quarter.
→ Without Graphite, There Would Be ZERO EV Batteries! (From Investing Trends)
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maverick Capital Ltd. grew its stake in shares of Equitrans Midstream by 11.8% in the first quarter. Maverick Capital Ltd. now owns 14,713 shares of the company’s stock valued at $124,000 after buying an additional 1,558 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Equitrans Midstream by 2.7% in the third quarter. State of Alaska Department of Revenue now owns 60,039 shares of the company’s stock valued at $449,000 after buying an additional 1,585 shares in the last quarter. Strs Ohio grew its stake in shares of Equitrans Midstream by 16.5% in the second quarter. Strs Ohio now owns 13,400 shares of the company’s stock valued at $85,000 after buying an additional 1,900 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Equitrans Midstream by 0.9% in the third quarter. Mackenzie Financial Corp now owns 208,250 shares of the company’s stock valued at $1,558,000 after buying an additional 1,934 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in shares of Equitrans Midstream by 50.6% in the second quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock valued at $42,000 after buying an additional 2,244 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ETRN has been the subject of a number of recent research reports. Wolfe Research lowered Equitrans Midstream from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 19th. Barclays lowered their price objective on Equitrans Midstream from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 18th. Citigroup assumed coverage on Equitrans Midstream in a research note on Thursday, December 8th. They set a “neutral” rating and a $8.00 price objective for the company. Royal Bank of Canada lowered their price objective on Equitrans Midstream from $10.00 to $9.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 2nd. Finally, Bank of America lowered Equitrans Midstream from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $9.00 to $6.50 in a research note on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equitrans Midstream has a consensus rating of “Hold” and an average target price of $8.17.
Equitrans Midstream Trading Down 0.4 %
NYSE:ETRN opened at $7.11 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 4.67. The business’s 50 day moving average is $7.29 and its two-hundred day moving average is $8.00. Equitrans Midstream Co. has a 52 week low of $5.87 and a 52 week high of $9.90. The company has a market cap of $3.09 billion, a PE ratio of -1.56, a P/E/G ratio of 5.98 and a beta of 1.95.
Equitrans Midstream (NYSE:ETRN – Get Rating) last released its earnings results on Tuesday, November 1st. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $331.75 million for the quarter, compared to the consensus estimate of $364.03 million. Equitrans Midstream had a positive return on equity of 8.31% and a negative net margin of 153.15%. On average, analysts predict that Equitrans Midstream Co. will post 0.46 EPS for the current year.
Equitrans Midstream Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Investors of record on Monday, February 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend is Friday, February 3rd. Equitrans Midstream’s dividend payout ratio (DPR) is -13.19%.
Equitrans Midstream Company Profile
Equitrans Midstream Corporation owns, operates, acquires, and develops natural gas gathering, transmission and storage, and water services assets in the Appalachian Basin. It operates through three segments: Gathering System, Transmission and Storage System, and Water Service System. The Gathering System segment include 1,130 miles of high-pressure gathering lines with compression of approximately 485,000 horsepower and multiple interconnect points; and approximately 910 miles of Federal Energy Regulatory Commission (FERC) low-pressure gathering lines.
Featured Articles
Want to see what other hedge funds are holding ETRN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitrans Midstream Co. (NYSE:ETRN – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Equitrans Midstream, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Equitrans Midstream wasn’t on the list.
While Equitrans Midstream currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
