In yesterday’s Wall Street session, Equitrans Midstream Corporation (NYSE:ETRN) shares traded at $9.29, up 3.57% from the previous session.
As of this writing, 12 analysts cover Equitrans Midstream Corporation (NYSE:ETRN). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $14.00 and a low of $9.00, we find $11.00. Given the previous closing price of $8.97, this indicates a potential upside of 22.63 percent. ETRN stock price is now -3.56% away from the 50-day moving average and 23.37% away from the 200-day moving average. The market capitalization of the company currently stands at $4.02B.
There are 6 analysts who have given it a hold rating, whereas 4 have given it a buy rating. Brokers who have rated the stock have averaged $11.22 as their price target over the next twelve months.
In other news, BAILEY VICKY A, Director sold 2,440 shares of the company’s stock on Mar 24. The stock was sold for $12,420 at an average price of $5.09. Upon completion of the transaction, the Director now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 16, Sr VP & CFO Oliver Kirk R bought 9,000 shares of the business’s stock. A total of $49,140 was incurred on buying the stock at an average price of $5.46. This leaves the insider owning 39,118 shares of the company worth $0.36 million. Insiders disposed of 90,902 shares of company stock worth roughly $0.84 million over the past 1 year. A total of 0.56% 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 $66,451,000. NOMURA HOLDINGS INC invested $53,056,000 in shares of ETRN during the first quarter. In the first quarter, PECONIC PARTNERS LLC acquired a new stake in Equitrans Midstream Corporation valued at approximately $37,634,000. ENCOMPASS CAPITAL ADVISORS LLC acquired a new stake in ETRN for approximately $24,025,000. SIR CAPITAL MANAGEMENT, L.P. purchased a new stake in ETRN valued at around $22,484,000 in the second quarter. In total, there are 430 active investors with 87.76% ownership of the company’s stock.
Wednesday morning saw Equitrans Midstream Corporation (NYSE: ETRN) opened at $9.10. During the past 12 months, Equitrans Midstream Corporation has had a low of $4.60 and a high of $10.48. As of last week, the company has a debt-to-equity ratio of 4.23, a current ratio of 0.90, and a quick ratio of 0.90. The fifty day moving average price for ETRN is $9.63 and a two-hundred day moving average price translates $7.54 for the stock.
The latest earnings results from Equitrans Midstream Corporation (NYSE: ETRN) was released for Jun, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $0.12, beating analysts’ expectations of $0.11 by 0.01. This compares to $0.11 EPS in the same period last year. The net profit margin was -22.83% and return on equity was -13.31% for ETRN. The company reported revenue of $318.47 million for the quarter, compared to $328.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.09 percent. For the current quarter, analysts expect ETRN to generate $325.66M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/14/2023. Investors who held shares on 08/04/2023 were paid a $0.15 dividend. On an annualized basis, this represents a $0.62 dividend and a 6.72% percent yield. There was an ex-dividend date of 08/03/2023 for this dividend.
Equitrans Midstream Corporation(ETRN) Company Profile
Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. The company operates dry gas gathering systems of high-pressure gathering lines; FERC-regulated interstate pipelines and storage systems; and water pipelines and other facilities that deliver fresh water from local municipal water authorities, the Monongahela River, the Ohio River, local reservoirs, and several regional waterways. Equitrans Midstream Corporation was incorporated in 2018 and is headquartered in Canonsburg, Pennsylvania.
