Royal Bank Of Canada Increases Tidewater Midstream and Infrastructure (TSE:TWM) Price Target to C$18.00

Key Points

• Royal Bank of Canada raised its price target on Tidewater Midstream and Infrastructure to C$18.00 from C$11.00, while keeping a sector perform rating on the stock.
• Several other analysts also lifted targets on the company, and MarketBeat says the stock now has a consensus Hold rating with an average price target of C$16.80.
• Tidewater shares were up 3.1% to C$15.48 in Friday trading, near their 52-week high, even as the company reported a quarterly loss of C$1.38 per share on revenue of C$314.1 million.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its target price boosted by equities research analysts at Royal Bank Of Canada from C$11.00 to C$18.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 16.28% from the company's current price.

Other equities analysts also recently issued reports about the stock. National Bank Financial increased their price objective on shares of Tidewater Midstream and Infrastructure from C$9.50 to C$15.00 and gave the company a "sector perform" rating in a research note on Friday. Scotia increased their price objective on shares of Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the company a "sector perform" rating in a research note on Friday. ATB Cormark Capital Markets increased their price objective on shares of Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, Scotiabank increased their price objective on shares of Tidewater Midstream and Infrastructure from C$7.00 to C$9.00 and gave the company a "sector perform" rating in a research note on Friday, March 27th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$16.80.

Tidewater Midstream and Infrastructure Trading Up 3.1%

Tidewater Midstream and Infrastructure stock traded up C$0.46 during midday trading on Friday, reaching C$15.48. The stock had a trading volume of 185,018 shares, compared to its average volume of 40,356. The company has a quick ratio of 0.55, a current ratio of 0.61 and a debt-to-equity ratio of 315.42. Tidewater Midstream and Infrastructure has a 52-week low of C$3.60 and a 52-week high of C$15.97. The firm has a market cap of C$337.51 million, a price-to-earnings ratio of -2.98, a price-to-earnings-growth ratio of 0.64 and a beta of -0.10. The company has a fifty day moving average of C$9.76 and a 200 day moving average of C$7.00.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last issued its earnings results on Thursday, March 26th. The company reported C($1.38) EPS for the quarter. The company had revenue of C$314.10 million during the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 49.98% and a negative net margin of 8.51%. On average, analysts anticipate that Tidewater Midstream and Infrastructure will post 0.0199855 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.