Tidewater Midstream and Infrastructure (TSE:TWM) Price Target Raised to C$35.00

Key Points

• Royal Bank of Canada raised its price target for Tidewater Midstream and Infrastructure to C$35 from C$30, maintaining an “outperform” rating. The target implies 32.98% upside from the prior close.
• Analyst sentiment is broadly positive: four analysts rate the stock Buy and two rate it Hold, giving it a MarketBeat consensus “Moderate Buy” rating and an average target of C$28.79.
• Shares rose 1.1% to C$26.32 on Friday. The company reported quarterly EPS of C($1.19) and revenue of C$628.2 million.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its target price hoisted by stock analysts at Royal Bank Of Canada from C$30.00 to C$35.00 in a report released on Friday, BayStreet reports. The firm currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 32.98% from the stock's previous close.

TWM has been the subject of a number of other research reports. ATB Cormark Capital Markets raised their price target on shares of Tidewater Midstream and Infrastructure from C$26.00 to C$28.00 and gave the stock an "outperform" rating in a report on Friday, October 23rd. Scotiabank increased their price objective on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Scotia raised their target price on Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the stock a "sector perform" rating in a research note on Friday, August 14th. Finally, National Bank Financial raised their target price on Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$28.79.

Tidewater Midstream and Infrastructure Trading Up 1.1%

Shares of TWM traded up C$0.29 during mid-day trading on Friday, reaching C$26.32. The stock had a trading volume of 76,703 shares, compared to its average volume of 73,830. The company has a debt-to-equity ratio of 309.29, a current ratio of 0.93 and a quick ratio of 0.55. Tidewater Midstream and Infrastructure has a 52-week low of C$4.49 and a 52-week high of C$26.94. The business's fifty day moving average is C$23.46 and its 200 day moving average is C$16.46. The firm has a market cap of C$577.36 million, a price-to-earnings ratio of -7.48, a P/E/G ratio of 0.64 and a beta of -0.33.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last issued its earnings results on Thursday, November 12th. The company reported C($1.19) EPS for the quarter. The firm had revenue of C$628.20 million for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 42.19% and a negative net margin of 4.75%. On average, sell-side analysts predict that Tidewater Midstream and Infrastructure will post 0.02 EPS for the current fiscal year.

Tidewater Midstream and Infrastructure Company Profile

Tidewater Midstream and Infrastructure Ltd. is traded on the TSX under the symbol 'TWM'. Midstream's business objective is to build a diversified midstream and infrastructure company across the North American gas processing, natural gas liquids ('NGL'), petroleum refining, and renewables markets. Midstream's strategy is to profitably grow and create shareholder value by acquiring and building high quality, strategically located infrastructure. To achieve its business objective, Midstream is focused on providing customers with a full service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, NGL infrastructure, pipelines, storage, and various renewable initiatives.

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