121,700 Shares in Equitrans Midstream Co. (NYSE:ETRN) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new position in shares of Equitrans Midstream Co. (NYSE:ETRN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 121,700 shares of the company's stock, valued at approximately $1,239,000.

Other institutional investors also recently bought and sold shares of the company. AlphaMark Advisors LLC raised its position in Equitrans Midstream by 66.2% during the 3rd 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. DekaBank Deutsche Girozentrale purchased a new stake in Equitrans Midstream during the third quarter worth $55,000. Operose Advisors LLC purchased a new stake in Equitrans Midstream during the third quarter worth $56,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Equitrans Midstream during the 3rd quarter worth about $93,000. Finally, IFP Advisors Inc grew its position in shares of Equitrans Midstream by 688.2% during the 3rd quarter. IFP Advisors Inc now owns 12,604 shares of the company's stock valued at $118,000 after acquiring an additional 11,005 shares during the period. 87.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ETRN has been the topic of a number of analyst reports. 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. Morgan Stanley dropped their target price on Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating on the stock in a research report on Thursday, February 22nd. TheStreet upgraded Equitrans Midstream from a "d+" rating to a "c-" rating in a research report on Wednesday, December 27th. Finally, Barclays lifted their price objective on Equitrans Midstream from $6.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Equitrans Midstream has an average rating of "Hold" and an average price target of $10.86.

Equitrans Midstream Price Performance

ETRN traded up $0.03 during trading on Tuesday, reaching $12.89. The company's stock had a trading volume of 5,404,048 shares, compared to its average volume of 6,334,426. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 4.83. The firm has a fifty day simple moving average of $11.57 and a two-hundred day simple moving average of $10.40. Equitrans Midstream Co. has a 1 year low of $4.65 and a 1 year high of $13.10. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.66 and a beta of 1.97.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last released its earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share for the quarter, topping 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 business had revenue of $360.60 million for the quarter, compared to analyst estimates of $348.04 million. During the same period last year, the company posted $0.13 EPS. The business's revenue was up 1.5% on a year-over-year basis. As a group, analysts anticipate that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Equitrans Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream's payout ratio is presently 67.42%.

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.