Tidewater Midstream and Infrastructure (TSE:TWM) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised Tidewater Midstream’s price target to C$28 from C$26 and maintained an “outperform” rating, implying 17.55% upside from the reported share price.
• Analyst sentiment is broadly positive: three analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and an average target of C$24.
• TWM shares rose 0.6% to C$23.82, while the company reported quarterly EPS of C$0.56 on C$552.1 million in revenue; however, it continues to show negative profitability metrics and high leverage.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its price objective hoisted by equities researchers at ATB Cormark Capital Markets from C$26.00 to C$28.00 in a note issued to investors on Friday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets's price objective would suggest a potential upside of 17.55% from the stock's current price.

A number of other brokerages also recently issued reports on TWM. National Bank Financial lifted their price target on Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Scotiabank upped 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 note on Tuesday, July 21st. Scotia raised their price objective on Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the company a "sector perform" rating in a research report on Friday, August 14th. Finally, Royal Bank Of Canada upgraded Tidewater Midstream and Infrastructure from a "hold" rating to a "moderate buy" rating in a research note on Sunday, August 16th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Tidewater Midstream and Infrastructure presently has a consensus rating of "Moderate Buy" and an average price target of C$24.00.

Tidewater Midstream and Infrastructure Stock Up 0.6%

TWM stock traded up C$0.15 during trading on Friday, hitting C$23.82. 26,199 shares of the company's stock traded hands, compared to its average volume of 69,775. The firm has a market capitalization of C$522.52 million, a P/E ratio of -6.77, a PEG ratio of 0.64 and a beta of -0.19. The business has a fifty day simple moving average of C$22.94 and a two-hundred day simple moving average of C$18.83. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 309.29. Tidewater Midstream and Infrastructure has a 1 year low of C$4.49 and a 1 year high of C$26.59.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported C$0.56 earnings per share for the quarter. The company had revenue of C$552.10 million during the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 42.19% and a negative net margin of 4.75%. Sell-side analysts anticipate that Tidewater Midstream and Infrastructure will post 0.02 EPS for the current year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.