Scotiabank Issues Positive Forecast for Tidewater Midstream and Infrastructure (TSE:TWM) Stock Price

Key Points

• Scotiabank raised its price objective on Tidewater Midstream and Infrastructure from C$7.00 to C$9.00 while maintaining a "sector perform" rating, a target that implies roughly a 1.53% downside from the recent price.
• Other analysts have also lifted targets (ATB Cormark to C$9.00, RBC to C$11.00); four analysts rate the stock a Hold and the MarketBeat consensus target is C$9.10.
• TWM trades near C$9.14 with a market cap of about C$197M, but shows weak fundamentals including a negative P/E (-2.33) and high leverage (debt-to-equity 192.11), despite trading near its 12‑month high.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its price objective raised by investment analysts at Scotiabank from C$7.00 to C$9.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Scotiabank's target price suggests a potential downside of 1.53% from the stock's current price.

A number of other analysts have also recently weighed in on TWM. ATB Cormark Capital Markets raised their price target on shares of Tidewater Midstream and Infrastructure from C$6.00 to C$9.00 and gave the company a "sector perform" rating in a report on Friday. Royal Bank Of Canada boosted their price objective on shares of Tidewater Midstream and Infrastructure from C$10.00 to C$11.00 and gave the stock a "sector perform" rating in a research note on Friday. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of C$9.10.

Tidewater Midstream and Infrastructure Stock Down 0.4%

TWM traded down C$0.04 on Friday, hitting C$9.14. The company had a trading volume of 29,760 shares, compared to its average volume of 22,752. The stock has a market capitalization of C$197.39 million, a price-to-earnings ratio of -2.33, a P/E/G ratio of 0.64 and a beta of 0.19. The company has a debt-to-equity ratio of 192.11, a quick ratio of 0.55 and a current ratio of 0.65. The stock has a fifty day moving average price of C$6.90 and a 200-day moving average price of C$5.98. Tidewater Midstream and Infrastructure has a 12-month low of C$3.30 and a 12-month high of C$9.40.

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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