Tidewater Midstream and Infrastructure (TSE:TWM) Hits New 1-Year High - Time to Buy?

Key Points

• Tidewater Midstream and Infrastructure shares reached a new 52-week high of C$25.43, rising 5% during trading and well above its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive: three analysts rate the stock a Buy and two rate it a Hold, resulting in a consensus “Moderate Buy” rating, though the C$23.60 average price target is below the current price.
• The company reported C$0.56 in quarterly EPS and C$552.1 million in revenue, but continues to show financial strain, including a negative net margin, negative return on equity, and a high debt-to-equity ratio of 309.29.

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$25.43 and last traded at C$25.43, with a volume of 37729 shares traded. The stock had previously closed at C$24.30.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. National Bank Financial increased their price objective on shares of Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Scotiabank increased their price target on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 21st. Scotia lifted their price target on shares of Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the stock a "sector perform" rating in a research note on Friday, August 14th. Royal Bank Of Canada raised shares of Tidewater Midstream and Infrastructure from a "hold" rating to a "moderate buy" rating in a research report on Sunday, August 16th. Finally, ATB Cormark Capital Markets upped their price objective on Tidewater Midstream and Infrastructure from C$24.00 to C$26.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$23.60.

Tidewater Midstream and Infrastructure Trading Up 5.0%

The stock has a 50 day moving average of C$21.89 and a 200-day moving average of C$17.46. The company has a market capitalization of C$559.59 million, a P/E ratio of -7.25, a P/E/G ratio of 0.64 and a beta of -0.19. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 309.29.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$0.56 earnings per share for the quarter. The business had revenue of C$552.10 million for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 4.75% and a negative return on equity of 42.19%. On average, research analysts predict that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 EPS for the current year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd is a Canadian company that is engaged in providing midstream infrastructure and a natural gas storage facility. It mainly focuses on the purchase, sale, and transportation of Natural Gas Liquids (NGLs) such as propane and natural gasoline throughout North America and export to premium markets. The business activities of the company include gathering, processing, and transportation relates to raw gas gathering systems, processing plants and pipelines, NGL marketing and Extraction, refined products, and other activities.

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