Equitrans Midstream (NYSE:ETRN) Hits New 1-Year High at $14.60

Equitrans Midstream Co. (NYSE:ETRN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.60 and last traded at $14.29, with a volume of 14540498 shares trading hands. The stock had previously closed at $13.84.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ETRN shares. Wells Fargo & Company lifted their target price on Equitrans Midstream from $12.00 to $13.00 and gave the company an "equal weight" rating in a research report on Thursday, May 2nd. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. US Capital Advisors cut Equitrans Midstream from an "overweight" rating to a "hold" rating in a report on Monday, April 29th. Barclays boosted their price target on Equitrans Midstream from $6.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Finally, Morgan Stanley reduced their price target on Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, February 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $11.19.

Equitrans Midstream Stock Performance

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. The company has a 50 day simple moving average of $12.78 and a 200-day simple moving average of $11.05. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 11.07 and a beta of 1.93.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The firm had revenue of $364.27 million for the quarter, compared to analyst estimates of $345.79 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The company's revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Equitrans Midstream Co. will post 0.85 EPS for the current fiscal year.

Equitrans Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend was Monday, May 6th. Equitrans Midstream's payout ratio is 66.67%.

Institutional Investors Weigh In On Equitrans Midstream

Several institutional investors have recently bought and sold shares of ETRN. Cambridge Investment Research Advisors Inc. grew its holdings in Equitrans Midstream by 5.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company's stock worth $312,000 after buying an additional 1,635 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Equitrans Midstream in the 3rd quarter valued at $93,000. Teacher Retirement System of Texas grew its stake in Equitrans Midstream by 81.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 59,805 shares of the company's stock valued at $560,000 after purchasing an additional 26,840 shares during the period. California Public Employees Retirement System grew its stake in Equitrans Midstream by 24.4% in the 3rd quarter. California Public Employees Retirement System now owns 809,945 shares of the company's stock valued at $7,589,000 after purchasing an additional 159,008 shares during the period. Finally, NBC Securities Inc. bought a new position in Equitrans Midstream in the 3rd quarter valued at $370,000. 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.