Equitrans Midstream (NYSE:ETRN) Sets New 1-Year High at $13.08

Equitrans Midstream Co. (NYSE:ETRN) shares hit a new 52-week high on Tuesday . The stock traded as high as $13.08 and last traded at $13.07, with a volume of 1579102 shares trading hands. The stock had previously closed at $12.86.

Analyst Ratings Changes

Several research firms have commented on ETRN. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, December 27th. Barclays upped 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. Morgan Stanley cut their target price on Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.86.

Equitrans Midstream Stock Performance

The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.66 and a beta of 1.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The firm has a fifty day simple moving average of $11.51 and a 200-day simple moving average of $10.38.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. The business had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. Equitrans Midstream’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 earnings per share. Analysts forecast that Equitrans Midstream Co. will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Equitrans Midstream

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

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.