Stocks of Equitrans Midstream Corporation (NYSE:ETRN) traded higher last session on Wall Street, up 1.32% to $5.36.
As we calculate the median target price by taking the range between a high of $10.00 and a low of $6.00, we find $8.00. Given the previous closing price of $5.29, this indicates a potential upside of 51.23 percent. ETRN stock price is now -18.73% away from the 50-day moving average and -29.48% away from the 200-day moving average. The market capitalization of the company currently stands at $2.40B.
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Brokers who have rated the stock have averaged $7.86 as their price target over the next twelve months.
With the price target reduced from $9.50 to $6, Goldman Downgraded its rating from Buy to Sell for Equitrans Midstream Corporation (NYSE: ETRN). On December 16, 2022, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock reducing its target price from $12 to quote $8, while ‘Citigroup’ rates the stock as ‘Neutral’.
In other news, Oliver Kirk R, Sr VP & CFO bought 9,000 shares of the company’s stock on Mar 16. The stock was bought for $49,140 at an average price of $5.46. Upon completion of the transaction, the Sr VP & CFO now directly owns 39,118 shares in the company, valued at $0.21 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14, Sr VP & General Counsel Moore Stephen M bought 8,500 shares of the business’s stock. A total of $49,810 was incurred on buying the stock at an average price of $5.86. This leaves the insider owning 188,916 shares of the company worth $1.01 million. Insiders disposed of 103,587 shares of company stock worth roughly $0.56 million over the past 1 year. A total of 0.41% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ETRN stock. A new stake in Equitrans Midstream Corporation shares was purchased by WESTWOOD HOLDINGS GROUP INC during the first quarter worth $38,340,000. MARSHALL WACE, LLP invested $17,645,000 in shares of ETRN during the first quarter. In the first quarter, CAPITAL GROUP INVESTMENT MANAGEMENT PTE. LTD. acquired a new stake in Equitrans Midstream Corporation valued at approximately $10,250,000. HRT FINANCIAL LP acquired a new stake in ETRN for approximately $5,859,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. purchased a new stake in ETRN valued at around $3,017,000 in the second quarter. In total, there are 420 active investors with 96.60% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $5.32 for Equitrans Midstream Corporation (NYSE: ETRN). During the past 12 months, Equitrans Midstream Corporation has had a low of $5.07 and a high of $9.90. As of last week, the company has a debt-to-equity ratio of 7.58, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for ETRN is $6.56 and a two-hundred day moving average price translates $7.59 for the stock.
The latest earnings results from Equitrans Midstream Corporation (NYSE: ETRN) was released for Sep, 2022. According to the Oil & Gas Midstream Company, earnings per share came in at $0.09, missing analysts’ expectations of $0.13 by -0.04. This compares to -$3.75 EPS in the same period last year. The net profit margin was -24.10% and return on equity was -26.30% for ETRN. The company reported revenue of $355.24 million for the quarter, compared to $246.67 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 44.01 percent. For the current quarter, analysts expect ETRN to generate $342.09M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/14/2023. Investors who held shares on 02/06/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.60 dividend and a 11.19% percent yield. There was an ex-dividend date of 02/03/2023 for this dividend.
Equitrans Midstream Corporation(ETRN) 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. The Transmission and Storage System segment comprises 950 miles of FERC regulated interstate pipeline that connects to seven interstate pipelines and local distribution companies. The Water Service System segment include two independent systems comprised approximately 200 miles of pipeline that deliver fresh water from the Monongahela River, the Ohio River, local reservoirs, and various regional waterways. Equitrans Midstream Corporation was incorporated in 2018 and is headquartered in Canonsburg, Pennsylvania.
