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

Key Points

• Scotiabank raised its price target on Tidewater Midstream and Infrastructure to C$21.00 from C$17.00, while keeping a sector perform rating on the stock.
• Other analysts have also turned more positive on TWM, with National Bank Financial upgrading it to outperform and lifting its target to C$25.00. The consensus analyst rating remains Hold, with an average target price of C$20.00.
• The stock traded up to C$20.92, near its 52-week high of C$21.37, after a large volume spike. Despite the rally, the company recently reported a quarterly loss of C($1.24) per share and remains highly leveraged.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its price objective boosted by equities researchers at Scotiabank from C$17.00 to C$21.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target points to a potential upside of 0.38% from the company's previous close.

TWM has been the subject of several other research reports. National Bank Financial upgraded Tidewater Midstream and Infrastructure from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from C$17.00 to C$25.00 in a research note on Tuesday. Scotia lifted 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 report on Friday, May 8th. 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 stock a "sector perform" rating in a research report on Friday, May 8th. Finally, ATB Cormark Capital Markets raised their target price on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$19.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Tidewater Midstream and Infrastructure currently has an average rating of "Hold" and a consensus target price of C$20.00.

Tidewater Midstream and Infrastructure Stock Performance

TWM stock traded up C$1.41 during trading on Tuesday, hitting C$20.92. The company had a trading volume of 176,334 shares, compared to its average volume of 53,340. The firm has a market cap of C$458.42 million, a PE ratio of -4.22, a price-to-earnings-growth ratio of 0.64 and a beta of 0.11. Tidewater Midstream and Infrastructure has a 1-year low of C$4.00 and a 1-year high of C$21.37. The firm has a 50-day moving average price of C$17.30 and a 200-day moving average price of C$11.39. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 368.12.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported C($1.24) earnings per share for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 54.09% and a negative net margin of 7.71%.The company had revenue of C$385.60 million for the quarter. On average, analysts expect that Tidewater Midstream and Infrastructure will post 0.0199855 earnings per share for the current 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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