Tidewater Midstream and Infrastructure (TSE:TWM) Given New C$17.00 Price Target at Scotia

Key Points

• Scotia raised its price target on Tidewater Midstream and Infrastructure from C$9.00 to C$17.00, while keeping a sector perform rating. The new target implies about 9.82% upside from the previous close.
• Other analysts also recently turned more constructive, with several firms raising price objectives and National Bank Financial upgrading the stock from strong sell to hold. The consensus analyst rating remains Hold, with a consensus target price of C$16.80.
• The stock has been highly volatile, trading at C$15.48 after touching a 52-week high of C$15.97, and the company continues to show weak fundamentals including a negative earnings per share of C($1.38) last quarter and a very high debt-to-equity ratio.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its target price increased by equities researchers at Scotia from C$9.00 to C$17.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotia's target price would suggest a potential upside of 9.82% from the stock's previous close.

Several other research firms have also recently weighed in on TWM. 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 report on Friday, March 27th. ATB Cormark Capital Markets boosted their price objective on shares of Tidewater Midstream and Infrastructure from C$6.00 to C$9.00 and gave the stock a "sector perform" rating in a research report on Friday, March 27th. Scotiabank boosted their price objective on shares of Tidewater Midstream and Infrastructure from C$7.00 to C$9.00 and gave the stock a "sector perform" rating in a research report on Friday, March 27th. Finally, National Bank Financial raised shares of Tidewater Midstream and Infrastructure from a "strong sell" rating to a "hold" rating and boosted their price target for the company from C$4.50 to C$9.50 in a report on Friday, March 27th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$16.80.

Tidewater Midstream and Infrastructure Price Performance

Shares of TSE:TWM traded up C$0.46 during 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. Tidewater Midstream and Infrastructure has a 52 week low of C$3.60 and a 52 week high of C$15.97. The business's 50-day moving average price is C$9.76 and its 200 day moving average price is C$7.00. The company has a debt-to-equity ratio of 315.42, a current ratio of 0.61 and a quick ratio of 0.55. The stock has a market capitalization of C$337.51 million, a PE ratio of -2.98, a P/E/G ratio of 0.64 and a beta of -0.10.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last posted its quarterly earnings data on Thursday, March 26th. The company reported C($1.38) earnings per share for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 49.98% and a negative net margin of 8.51%.The company had revenue of C$314.10 million during the quarter. As a group, equities analysts predict that Tidewater Midstream and Infrastructure will post 0.0199855 earnings per share for the current 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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