Q4 2024 Earnings Forecast for Equitrans Midstream Co. Issued By US Capital Advisors (NYSE:ETRN)

Equitrans Midstream Co. (NYSE:ETRN - Free Report) - Investment analysts at US Capital Advisors lowered their Q4 2024 earnings per share estimates for shares of Equitrans Midstream in a research report issued to clients and investors on Tuesday, May 21st. US Capital Advisors analyst J. Carreker now expects that the company will post earnings of $0.25 per share for the quarter, down from their prior forecast of $0.28. US Capital Advisors currently has a "Hold" rating on the stock. The consensus estimate for Equitrans Midstream's current full-year earnings is $0.85 per share. US Capital Advisors also issued estimates for Equitrans Midstream's FY2025 earnings at $1.00 EPS.

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

ETRN has been the subject of several other reports. Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research note on Thursday, March 7th. 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. Barclays increased 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. Finally, Wells Fargo & Company increased their price objective on Equitrans Midstream from $12.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $11.19.

Equitrans Midstream Stock Performance

NYSE:ETRN remained flat at $13.84 during trading hours on Thursday. The company had a trading volume of 36,617,042 shares, compared to its average volume of 6,358,397. The stock has a fifty day moving average price of $12.78 and a two-hundred day moving average price of $11.05. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 11.07 and a beta of 1.93. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. Equitrans Midstream has a 52-week low of $5.71 and a 52-week high of $14.60.

Equitrans Midstream Announces Dividend

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

Hedge Funds Weigh In On Equitrans Midstream

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in shares of Equitrans Midstream by 140.6% during the 1st quarter. Janus Henderson Group PLC now owns 466,762 shares of the company's stock worth $5,832,000 after buying an additional 272,800 shares during the period. Caxton Associates LP bought a new position in Equitrans Midstream in the 1st quarter valued at $461,000. Energy Income Partners LLC raised its position in Equitrans Midstream by 262.4% in the 1st quarter. Energy Income Partners LLC now owns 1,172,217 shares of the company's stock valued at $14,641,000 after purchasing an additional 848,723 shares during the last quarter. Aristides Capital LLC bought a new position in Equitrans Midstream in the 1st quarter valued at $624,000. Finally, Truvestments Capital LLC bought a new position in Equitrans Midstream in the 1st quarter valued at $29,000. Institutional investors own 87.35% of the company's stock.

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.