Scotia Forecasts Strong Price Appreciation for Tidewater Midstream and Infrastructure (TSE:TWM) Stock

Key Points

• Scotia raised its price target for Tidewater Midstream and Infrastructure to C$26 from C$21 while maintaining a “sector perform” rating, implying 17.43% upside from the prior close.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it a Hold, producing a consensus “Hold” rating and an average price target of C$23.60.
• Shares rose 1% to C$22.14, near the company’s 12-month high of C$23.12. Despite quarterly revenue of C$552.1 million and EPS of C$0.56, the company reported negative net margins and return on equity, alongside high leverage.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its target price lifted by Scotia from C$21.00 to C$26.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotia's price objective indicates a potential upside of 17.43% from the stock's previous close.

A number of other analysts also recently weighed in on the company. Scotiabank increased their price objective on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the company a "sector perform" rating in a report on Tuesday, July 21st. ATB Cormark Capital Markets increased their target price on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$19.00 and gave the company a "sector perform" rating in a research report on Thursday, July 9th. National Bank Financial upgraded shares of Tidewater Midstream and Infrastructure from a "hold" rating to an "outperform" rating and raised their price target for the stock from C$17.00 to C$25.00 in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada upped their price objective on shares of Tidewater Midstream and Infrastructure from C$11.00 to C$18.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$23.60.

Tidewater Midstream and Infrastructure Trading Up 1.0%

Shares of Tidewater Midstream and Infrastructure stock traded up C$0.22 on Friday, hitting C$22.14. The stock had a trading volume of 87,109 shares, compared to its average volume of 61,374. The stock has a 50 day moving average of C$18.58 and a 200 day moving average of C$13.31. The firm has a market capitalization of C$485.15 million, a P/E ratio of -4.46, a PEG ratio of 0.64 and a beta of 0.09. Tidewater Midstream and Infrastructure has a twelve month low of C$4.00 and a twelve month high of C$23.12. The company has a debt-to-equity ratio of 368.12, a quick ratio of 0.55 and a current ratio of 0.91.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last posted 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 7.71% and a negative return on equity of 54.09%. The firm had revenue of C$552.10 million for the quarter. Sell-side analysts expect 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source