Mirae Asset Global Investments Co. Ltd. Cuts Stock Holdings in Equitrans Midstream Co. (NYSE:ETRN)

Mirae Asset Global Investments Co. Ltd. decreased its stake in Equitrans Midstream Co. (NYSE:ETRN - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,048,957 shares of the company's stock after selling 382,890 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.93% of Equitrans Midstream worth $41,218,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Equitrans Midstream by 1.7% in the 1st quarter. BlackRock Inc. now owns 52,615,234 shares of the company's stock valued at $304,116,000 after purchasing an additional 886,117 shares during the last quarter. Capital International Investors raised its position in shares of Equitrans Midstream by 5.9% during the first quarter. Capital International Investors now owns 49,239,507 shares of the company's stock worth $415,696,000 after acquiring an additional 2,749,573 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Equitrans Midstream by 3.5% during the third quarter. Vanguard Group Inc. now owns 47,037,992 shares of the company's stock worth $440,746,000 after acquiring an additional 1,572,136 shares during the last quarter. State Street Corp raised its position in shares of Equitrans Midstream by 1.9% during the first quarter. State Street Corp now owns 15,207,093 shares of the company's stock worth $87,897,000 after acquiring an additional 284,116 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Equitrans Midstream by 29.0% during the first quarter. Dimensional Fund Advisors LP now owns 10,883,478 shares of the company's stock worth $91,859,000 after acquiring an additional 2,444,950 shares during the last quarter. Institutional investors and hedge funds own 87.35% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ETRN. Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Equitrans Midstream in a research report on Thursday, March 7th. Barclays lifted 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. Wells Fargo & Company cut Equitrans Midstream from an "equal weight" rating to an "underweight" rating and lifted their price objective for the stock from $9.00 to $10.00 in a research note on Thursday, December 14th. Morgan Stanley decreased 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. Finally, TheStreet raised Equitrans Midstream from a "d+" rating to a "c-" rating in a research note on Wednesday, December 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Equitrans Midstream has an average rating of "Hold" and a consensus price target of $10.86.

Equitrans Midstream Stock Down 1.2 %

ETRN stock traded down $0.15 during mid-day trading on Friday, reaching $12.31. 5,518,625 shares of the company traded hands, compared to its average volume of 11,616,918. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.64 and a beta of 1.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.83. Equitrans Midstream Co. has a fifty-two week low of $4.60 and a fifty-two week high of $12.76. The firm's 50 day moving average price is $11.00 and its 200 day moving average price is $10.13.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The business had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company's quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts predict that Equitrans Midstream Co. will post 0.87 EPS for the current fiscal year.

Equitrans Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were paid a $0.15 dividend. The ex-dividend date was Monday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.87%. Equitrans Midstream's payout ratio is presently 67.42%.

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.