US Capital Advisors Weighs in on Equitrans Midstream Co.'s Q2 2024 Earnings (NYSE:ETRN)

Equitrans Midstream Co. (NYSE:ETRN - Free Report) - Analysts at US Capital Advisors decreased their Q2 2024 earnings per share (EPS) estimates for Equitrans Midstream in a research report issued on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now anticipates that the company will post earnings of $0.04 per share for the quarter, down from their previous estimate of $0.09. US Capital Advisors currently has a "Hold" rating on the stock. The consensus estimate for Equitrans Midstream's current full-year earnings is $0.86 per share. US Capital Advisors also issued estimates for Equitrans Midstream's Q3 2024 earnings at $0.23 EPS, FY2024 earnings at $0.74 EPS, Q1 2025 earnings at $0.27 EPS, Q2 2025 earnings at $0.23 EPS, Q3 2025 earnings at $0.24 EPS, Q4 2025 earnings at $0.26 EPS and FY2026 earnings at $1.12 EPS.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. The company had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. Equitrans Midstream's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS.

A number of other analysts have also recently commented on ETRN. Barclays boosted their price target on Equitrans Midstream from $6.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Monday, February 26th. Wells Fargo & Company boosted their target price on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated an "outperform" rating and set a $13.00 target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $11.19.

Equitrans Midstream Stock Down 0.8 %

Shares of ETRN traded down $0.10 during mid-day trading on Wednesday, reaching $13.85. The company had a trading volume of 4,836,229 shares, compared to its average volume of 6,052,753. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a 50-day moving average price of $12.78 and a 200 day moving average price of $11.05. Equitrans Midstream has a 52 week low of $5.71 and a 52 week high of $14.31. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 1.92 and a beta of 1.93.

Institutional Investors Weigh In On Equitrans Midstream

Institutional investors have recently bought and sold shares of the company. Levin Capital Strategies L.P. purchased a new position in shares of Equitrans Midstream during the fourth quarter worth $204,000. Envestnet Asset Management Inc. boosted its position in shares of Equitrans Midstream by 125.3% during the 3rd 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 boosted its position in shares of Equitrans Midstream by 14.7% during the 3rd 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 acquired a new stake in Equitrans Midstream during the 3rd quarter worth approximately $2,555,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Equitrans Midstream by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,914,514 shares of the company's stock worth $39,850,000 after buying an additional 13,183 shares in the last quarter. 87.35% of the stock is currently owned by institutional investors and hedge funds.

Equitrans Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.33%. Equitrans Midstream's dividend payout ratio is presently 66.67%.

About Equitrans Midstream

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.