National Bank Financial Issues Positive Forecast for Tidewater Midstream and Infrastructure (TSE:TWM) Stock Price

Key Points

• National Bank Financial raised its price target for Tidewater Midstream and Infrastructure to C$27 from C$25 and maintained an “outperform” rating, implying 21.95% upside from the prior close.
• Other analysts also increased their targets, but the overall consensus remains “Hold”, with an average price target of C$23.60 based on two Buy and three Hold ratings.
• The stock rose 1% to C$22.14 and is near its 12-month high, while the company reported C$0.56 in quarterly EPS on C$552.1 million in revenue but continues to show negative profitability metrics.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its price objective increased by equities researchers at National Bank Financial from C$25.00 to C$27.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. National Bank Financial's price objective suggests a potential upside of 21.95% from the stock's previous close.

Other equities analysts have also issued reports about the stock. ATB Cormark Capital Markets increased their price objective on shares of Tidewater Midstream and Infrastructure from C$24.00 to C$26.00 and gave the company an "outperform" rating in a report on Friday. Scotiabank raised their price target 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 lifted their price objective 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. Finally, Royal Bank Of Canada upped their price objective on Tidewater Midstream and Infrastructure from C$11.00 to C$18.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of C$23.60.

Tidewater Midstream and Infrastructure Trading Up 1.0%

Tidewater Midstream and Infrastructure stock traded up C$0.22 during mid-day trading on Friday, hitting C$22.14. The stock had a trading volume of 87,109 shares, compared to its average volume of 61,374. The stock has a 50-day simple moving average of C$18.58 and a two-hundred day simple moving average of C$13.31. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 368.12. The stock has a market capitalization of C$485.15 million, a PE ratio of -4.46, a P/E/G ratio of 0.64 and a beta of 0.09. Tidewater Midstream and Infrastructure has a 12 month low of C$4.00 and a 12 month high of C$23.12.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported C$0.56 earnings per share for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 54.09% and a negative net margin of 7.71%.The firm had revenue of C$552.10 million during the quarter. As a group, sell-side analysts forecast that Tidewater Midstream and Infrastructure will post 0.0199855 EPS for the current year.

Tidewater Midstream and Infrastructure Company Profile

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.

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