Equitrans Midstream Co. (NYSE:ETRN - Get Free Report) saw unusually large options trading activity on Tuesday. Traders bought 60,627 call options on the stock. This is an increase of 587% compared to the average daily volume of 8,820 call options.
Analyst Ratings Changes
ETRN has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. TheStreet raised shares of Equitrans Midstream from a "d+" rating to a "c-" rating in a research report on Wednesday, December 27th. Wells Fargo & Company downgraded shares of Equitrans Midstream from an "equal weight" rating to an "underweight" rating and upped their price objective for the stock from $9.00 to $10.00 in a research report on Thursday, December 14th. Morgan Stanley reduced 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $10.86.
Read Our Latest Stock Report on ETRN
Equitrans Midstream Stock Performance
Shares of ETRN stock traded up $0.32 during trading on Tuesday, reaching $12.87. 8,248,378 shares of the company's stock traded hands, compared to its average volume of 6,380,487. The company has a market capitalization of $5.61 billion, a P/E ratio of 14.46, a PEG ratio of 1.64 and a beta of 1.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The firm's 50-day moving average is $11.04 and its 200 day moving average is $10.16. Equitrans Midstream has a 1 year low of $4.60 and a 1 year high of $12.90.
Equitrans Midstream (NYSE:ETRN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.16. The company had revenue of $360.60 million for the quarter, compared to analysts' expectations of $348.04 million. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. Equitrans Midstream's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.13 EPS. Equities research analysts expect that Equitrans Midstream will post 0.87 EPS for the current year.
Equitrans Midstream Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Monday, February 5th. Equitrans Midstream's payout ratio is currently 67.42%.
Institutional Trading of Equitrans Midstream
A number of institutional investors have recently modified their holdings of the business. Rise Advisors LLC purchased a new stake in shares of Equitrans Midstream during the 1st quarter valued at approximately $25,000. Mather Group LLC. purchased a new stake in Equitrans Midstream in the 1st quarter worth approximately $54,000. PNC Financial Services Group Inc. lifted its stake in Equitrans Midstream by 11.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 39,947 shares of the company's stock worth $407,000 after purchasing an additional 4,079 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Equitrans Midstream in the 4th quarter worth approximately $115,000. Finally, Hennessy Advisors Inc. purchased a new stake in Equitrans Midstream in the 4th quarter worth approximately $3,446,000. 87.35% of the stock is currently owned by hedge funds and other institutional investors.
About Equitrans Midstream
(
Get Free Report)
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.
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