Equitrans Midstream (NYSE:ETRN) Sets New 52-Week High at $13.08

Equitrans Midstream Co. (NYSE:ETRN - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.08 and last traded at $13.07, with a volume of 1579102 shares changing hands. The stock had previously closed at $12.86.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ETRN shares. Barclays lifted their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Monday, February 26th. TheStreet upgraded Equitrans Midstream from a "d+" rating to a "c-" rating in a research report on Wednesday, December 27th. Morgan Stanley decreased their price target on Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.86.

Equitrans Midstream Trading Up 0.2 %

The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.66 and a beta of 1.97. The company has a 50 day moving average of $11.57 and a 200-day moving average of $10.40.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.16. The firm had revenue of $360.60 million during the quarter, compared to analysts' expectations of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. On average, research analysts anticipate 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 will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be issued a $0.15 dividend. The ex-dividend date is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.65%. Equitrans Midstream's dividend payout ratio (DPR) is presently 67.42%.

Institutional Investors Weigh In On Equitrans Midstream

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

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.