Royal Bank Of Canada Upgrades Tidewater Midstream and Infrastructure (TSE:TWM) to Moderate Buy

Key Points

• Royal Bank of Canada upgraded Tidewater Midstream and Infrastructure from “hold” to “moderate buy.” The analyst consensus is also “Moderate Buy,” with an average price target of C$23.60.
• Several analysts raised their price targets, with recent estimates ranging from C$21.00 to C$27.00; ATB Cormark and National Bank Financial maintained “outperform” ratings.
• The stock opened at C$23.05 and has risen sharply from its one-year low of C$4.00, but the company continues to report weak profitability, including a negative net margin and a debt-to-equity ratio above 300.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) was upgraded by Royal Bank Of Canada from a "hold" rating to a "moderate buy" rating in a research report issued on Sunday,Zacks.com reports.

Several other equities analysts also recently issued reports on TWM. ATB Cormark Capital Markets lifted their price objective on Tidewater Midstream and Infrastructure from C$24.00 to C$26.00 and gave the company an "outperform" rating in a research report on Friday. Scotiabank increased their target price on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. Scotia raised their target price on Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the company a "sector perform" rating in a research note on Friday. Finally, National Bank Financial lifted their price target 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. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$23.60.

Tidewater Midstream and Infrastructure Stock Performance

TSE TWM opened at C$23.05 on Friday. The firm has a market cap of C$505.09 million, a price-to-earnings ratio of -6.55, a PEG ratio of 0.64 and a beta of 0.09. The company has a 50 day moving average of C$18.79 and a 200-day moving average of C$13.55. 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 has a 1-year low of C$4.00 and a 1-year high of C$23.40.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported C$0.56 EPS for the quarter. The business had revenue of C$552.10 million for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 42.19% and a negative net margin of 4.75%. On average, equities analysts forecast 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.

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