Tidewater Midstream and Infrastructure (TSE:TWM) Stock Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Tidewater Midstream shares rose 3.4% and crossed above their 50-day moving average of C$23.04, reaching C$23.67 before closing at C$23.53.
• Analysts have raised several price targets, with the consensus target now at C$24.00 and an overall “Moderate Buy” rating from three Buy and two Hold recommendations.
• The company reported C$552.1 million in quarterly revenue and C$0.56 earnings per share, but continues to show financial pressure, including a negative net margin of 4.75%, negative return on equity of 42.19%, and high debt relative to equity.

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM - Get Free Report) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$23.04 and traded as high as C$23.67. Tidewater Midstream and Infrastructure shares last traded at C$23.53, with a volume of 126,491 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TWM. ATB Cormark Capital Markets upped their target price on shares of Tidewater Midstream and Infrastructure from C$26.00 to C$28.00 and gave the company an "outperform" rating in a research note on Friday, October 23rd. Scotia lifted their price target on 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. Scotiabank lifted their price target on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 21st. National Bank Financial boosted their price objective on Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Finally, Royal Bank Of Canada upgraded Tidewater Midstream and Infrastructure from a "hold" rating to a "moderate buy" rating in a research note on Sunday, August 16th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$24.00.

Tidewater Midstream and Infrastructure Trading Up 3.4%

The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 309.29. The firm's 50 day simple moving average is C$23.04 and its two-hundred day simple moving average is C$15.51. The stock has a market cap of C$516.15 million, a P/E ratio of -6.68, a price-to-earnings-growth ratio of 0.64 and a beta of -0.19.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported C$0.56 earnings per share for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 4.75% and a negative return on equity of 42.19%. The company had revenue of C$552.10 million for the quarter. As a group, equities research analysts predict that Tidewater Midstream and Infrastructure Ltd. will post 0.02 earnings per share for the current fiscal year.

Tidewater Midstream and Infrastructure Company Profile

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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