Dimensional Fund Advisors LP Purchases 260,924 Shares of Equitrans Midstream Co. (NYSE:ETRN)

Dimensional Fund Advisors LP increased its stake in shares of Equitrans Midstream Co. (NYSE:ETRN - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,740,820 shares of the company's stock after acquiring an additional 260,924 shares during the period. Dimensional Fund Advisors LP owned 2.02% of Equitrans Midstream worth $88,982,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in Equitrans Midstream by 5.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company's stock valued at $312,000 after acquiring an additional 1,635 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Equitrans Midstream in the 3rd quarter worth about $93,000. Teacher Retirement System of Texas boosted its position in Equitrans Midstream by 81.4% in the third quarter. Teacher Retirement System of Texas now owns 59,805 shares of the company's stock valued at $560,000 after buying an additional 26,840 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Equitrans Midstream by 24.4% during the third quarter. California Public Employees Retirement System now owns 809,945 shares of the company's stock worth $7,589,000 after buying an additional 159,008 shares in the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Equitrans Midstream in the third quarter valued at approximately $370,000. 87.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an "equal weight" rating in a report on Monday, February 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 price target on shares of Equitrans Midstream in a report on Thursday, March 7th. Morgan Stanley reduced their price objective on Equitrans Midstream from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, February 22nd. US Capital Advisors downgraded Equitrans Midstream from an "overweight" rating to a "hold" rating in a research report on Monday, April 29th. Finally, Wells Fargo & Company upped their price target on Equitrans Midstream from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.19.

Equitrans Midstream Stock Performance

Shares of ETRN remained flat at $13.84 during mid-day trading on Thursday. The stock had a trading volume of 36,617,042 shares, compared to its average volume of 6,358,397. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 4.88. The stock has a market cap of $6.00 billion, a PE ratio of 15.37, a P/E/G ratio of 11.07 and a beta of 1.93. Equitrans Midstream Co. has a 52 week low of $5.71 and a 52 week high of $14.60. The business's fifty day moving average price is $12.78 and its 200-day moving average price is $11.05.

Equitrans Midstream (NYSE:ETRN - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Equitrans Midstream had a return on equity of 30.21% and a net margin of 31.69%. The company had revenue of $364.27 million for the quarter, compared to the consensus estimate of $345.79 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. Research analysts anticipate that Equitrans Midstream Co. will post 0.85 EPS for the current year.

Equitrans Midstream Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Monday, May 6th. Equitrans Midstream's dividend payout ratio (DPR) is currently 66.67%.

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.