Equitrans Midstream (NYSE:ETRN) Reaches New 12-Month High at $12.76

Equitrans Midstream Co. (NYSE:ETRN - Get Free Report) shares reached a new 52-week high on Thursday . The stock traded as high as $12.76 and last traded at $12.70, with a volume of 705516 shares traded. The stock had previously closed at $12.56.

Analysts Set New Price Targets

Several research firms have recently weighed in on ETRN. Wells Fargo & Company lowered Equitrans Midstream from an "equal weight" rating to an "underweight" rating and raised their price objective for the stock from $9.00 to $10.00 in a research note on Thursday, December 14th. TheStreet raised Equitrans Midstream from a "d+" rating to a "c-" rating in a research note on Wednesday, December 27th. Barclays raised their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Monday, February 26th. Royal Bank of Canada reissued an "outperform" rating and set a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. Finally, Morgan Stanley reduced their price objective on Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.86.

Equitrans Midstream Trading Down 0.8 %

The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.65 and a beta of 1.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.83. The business has a 50-day moving average of $10.97 and a 200-day moving average of $10.11.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The firm had revenue of $360.60 million during the quarter, compared to analysts' expectations of $348.04 million. During the same quarter last year, the firm earned $0.13 earnings per share. The business's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, research analysts forecast that Equitrans Midstream Co. will post 0.87 earnings per share for the current year.

Equitrans Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, February 5th. This represents a $0.60 annualized dividend and a yield of 4.81%. Equitrans Midstream's dividend payout ratio (DPR) is currently 67.42%.

Hedge Funds Weigh In On Equitrans Midstream

Several institutional investors have recently bought and sold shares of ETRN. Envestnet Asset Management Inc. increased its stake in shares of Equitrans Midstream by 125.3% in the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company's stock worth $4,838,000 after purchasing an additional 287,176 shares during the period. Valueworks LLC increased its stake in shares of Equitrans Midstream by 14.7% in the third quarter. Valueworks LLC now owns 765,213 shares of the company's stock worth $7,170,000 after purchasing an additional 97,940 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Equitrans Midstream in the third quarter worth about $2,555,000. Deutsche Bank AG increased its stake in shares of Equitrans Midstream by 16.5% in the third quarter. Deutsche Bank AG now owns 234,295 shares of the company's stock worth $2,195,000 after purchasing an additional 33,134 shares during the period. Finally, Advisors Capital Management LLC bought a new position in shares of Equitrans Midstream in the third quarter worth about $3,533,000. 87.35% of the stock is currently owned by institutional investors.

Equitrans Midstream Company Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.