NBW Capital LLC Makes New Investment in Equitrans Midstream Co. (NYSE:ETRN)

NBW Capital LLC purchased a new position in Equitrans Midstream Co. (NYSE:ETRN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 277,320 shares of the company's stock, valued at approximately $2,823,000. NBW Capital LLC owned approximately 0.06% of Equitrans Midstream as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in Equitrans Midstream in the second quarter worth about $25,000. Comerica Bank bought a new stake in Equitrans Midstream during the second quarter worth about $410,000. Chilton Capital Management LLC bought a new stake in Equitrans Midstream during the first quarter worth about $33,000. AlphaMark Advisors LLC grew its stake in Equitrans Midstream by 66.2% during the third quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company's stock worth $53,000 after buying an additional 2,250 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Equitrans Midstream during the third quarter worth about $55,000. Institutional investors and hedge funds own 87.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ETRN shares. TheStreet raised shares of Equitrans Midstream from a "d+" rating to a "c-" rating in a research note on Wednesday, December 27th. Morgan Stanley decreased their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, February 22nd. Barclays upped their price objective on shares of 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, Royal Bank of Canada reissued an "outperform" rating and set a $13.00 price target on shares of Equitrans Midstream in a research note on Thursday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $10.86.

Equitrans Midstream Price Performance

Shares of ETRN traded down $0.01 during mid-day trading on Thursday, hitting $12.26. 9,107,919 shares of the company traded hands, compared to its average volume of 6,367,347. Equitrans Midstream Co. has a one year low of $4.60 and a one year high of $13.06. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 13.80, 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 business has a 50-day moving average of $11.37 and a 200 day moving average of $10.30.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last announced its quarterly earnings data 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 net margin of 30.89% and a return on equity of 30.41%. The firm had revenue of $360.60 million for the quarter, compared to analysts' expectations of $348.04 million. During the same period last year, the firm earned $0.13 earnings per share. The business's revenue for the quarter was up 1.5% on a year-over-year basis. As a group, equities analysts expect that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.60 dividend on an annualized basis and a yield of 4.89%. Equitrans Midstream's payout ratio is presently 67.42%.

Equitrans Midstream 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.