Wells Fargo & Company Raises Equitrans Midstream (NYSE:ETRN) Price Target to $13.00

Equitrans Midstream (NYSE:ETRN - Get Free Report) had its price objective upped by analysts at Wells Fargo & Company from $12.00 to $13.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective suggests a potential downside of 3.24% from the company's previous close.

ETRN has been the subject of several other research reports. Barclays upped 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 lowered their price objective 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. US Capital Advisors cut shares of Equitrans Midstream from an "overweight" rating to a "hold" rating in a research report on Monday. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. 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. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.19.

Equitrans Midstream Trading Up 2.6 %

Shares of Equitrans Midstream stock traded up $0.34 on Thursday, hitting $13.44. 3,210,076 shares of the company's stock traded hands, compared to its average volume of 6,314,503. The firm's 50-day moving average price is $11.94 and its two-hundred day moving average price is $10.57. The stock has a market capitalization of $5.86 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 1.80 and a beta of 1.93. Equitrans Midstream has a one year low of $4.65 and a one year high of $14.21. The company has a debt-to-equity ratio of 4.83, a current ratio of 0.76 and a quick ratio of 0.76.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $364.27 million during the quarter, compared to analysts' expectations of $345.79 million. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.57%. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. On average, research analysts expect that Equitrans Midstream will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Equitrans Midstream

A number of large investors have recently added to or reduced their stakes in ETRN. Norges Bank bought a new position in Equitrans Midstream during the 4th quarter worth about $50,093,000. Kayne Anderson Capital Advisors LP bought a new position in Equitrans Midstream during the 3rd quarter worth about $19,163,000. Hotchkis & Wiley Capital Management LLC increased its holdings in Equitrans Midstream by 28.5% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 7,931,370 shares of the company's stock worth $80,741,000 after purchasing an additional 1,758,270 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Equitrans Midstream by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company's stock valued at $440,746,000 after acquiring an additional 1,572,136 shares in the last quarter. Finally, Recurrent Investment Advisors LLC grew its holdings in shares of Equitrans Midstream by 55.5% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 3,875,686 shares of the company's stock valued at $36,315,000 after acquiring an additional 1,383,451 shares in the last quarter. 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.