Equitrans Midstream Co. (NYSE:ETRN) Stake Cut by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Equitrans Midstream Co. (NYSE:ETRN - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,242,472 shares of the company's stock after selling 348,972 shares during the period. Jennison Associates LLC owned approximately 0.52% of Equitrans Midstream worth $22,828,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ETRN. Kayne Anderson Capital Advisors LP acquired a new position in shares of Equitrans Midstream in the 3rd quarter valued at $19,163,000. Vanguard Group Inc. lifted its stake in Equitrans Midstream by 3.5% during the 3rd 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 in the last quarter. Recurrent Investment Advisors LLC lifted its stake in Equitrans Midstream by 55.5% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 3,875,686 shares of the company's stock worth $36,315,000 after acquiring an additional 1,383,451 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Equitrans Midstream during the 4th quarter worth about $12,710,000. Finally, Blackstone Inc. lifted its stake in Equitrans Midstream by 18.8% during the 3rd quarter. Blackstone Inc. now owns 7,573,498 shares of the company's stock worth $70,964,000 after acquiring an additional 1,197,991 shares in the last quarter. Institutional investors and hedge funds own 87.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ETRN shares. Barclays increased their target price 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. Morgan Stanley decreased their target price on Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $13.00 target price 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, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $10.86.

Equitrans Midstream Stock Up 0.2 %

ETRN stock traded up $0.03 during mid-day trading on Friday, reaching $13.75. The company had a trading volume of 6,688,535 shares, compared to its average volume of 6,365,936. Equitrans Midstream Co. has a fifty-two week low of $4.65 and a fifty-two week high of $13.80. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.79 and a beta of 1.97. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a fifty day simple moving average of $11.70 and a 200 day simple moving average of $10.45.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 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 for the quarter, compared to the consensus estimate of $348.04 million. During the same quarter in the prior year, the business posted $0.13 EPS. The business's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 4.36%. Equitrans Midstream's dividend 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.