Equitrans Midstream (NYSE:ETRN) Sets New 12-Month High at $13.80

Equitrans Midstream Co. (NYSE:ETRN - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $13.80 and last traded at $13.80, with a volume of 288 shares. The stock had previously closed at $13.74.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ETRN. Barclays increased their target price on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Morgan Stanley decreased their target price on shares of Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 target price on shares of Equitrans Midstream in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $10.86.

Equitrans Midstream Stock Up 1.1 %

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 company has a market capitalization of $6.06 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 1.83 and a beta of 1.97. The stock's fifty day simple moving average is $11.77 and its two-hundred day simple moving average is $10.49.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last issued its quarterly earnings results 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. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The company had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. During the same period in the prior year, the company earned $0.13 EPS. Equitrans Midstream's revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream's payout ratio is 67.42%.

Institutional Trading of Equitrans Midstream

A number of hedge funds have recently bought and sold shares of ETRN. Norges Bank purchased a new stake in Equitrans Midstream during the fourth quarter valued at about $50,093,000. Kayne Anderson Capital Advisors LP purchased a new stake in Equitrans Midstream during the third quarter valued at about $19,163,000. Hotchkis & Wiley Capital Management LLC lifted its stake in Equitrans Midstream by 28.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company's stock valued at $80,741,000 after buying an additional 1,758,270 shares in the last quarter. Vanguard Group Inc. lifted its stake in Equitrans Midstream by 3.5% during the third quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company's stock valued at $440,746,000 after buying an additional 1,572,136 shares in the last quarter. Finally, Recurrent Investment Advisors LLC lifted its stake in Equitrans Midstream by 55.5% during the third quarter. Recurrent Investment Advisors LLC now owns 3,875,686 shares of the company's stock valued at $36,315,000 after buying an additional 1,383,451 shares in the last quarter. 87.35% of the stock is owned by hedge funds and other 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.