Tidewater Midstream and Infrastructure (TSE:TWM) Hits New 1-Year High - Here's What Happened

Key Points

• Tidewater hit a new 52-week high, trading as high as C$11.78 (last C$11.77) during mid-day trading and was up about 3.6% on the move.
• Several brokerages raised price targets on March 27, but the stock retains a consensus "Hold" rating with an average target of C$9.63.
• Company fundamentals show high leverage and negative earnings — debt-to-equity of 315.42, current ratio 0.61, P/E of -2.34 — while the 50- and 200-day moving averages are C$8.75 and C$6.62 respectively.

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$11.78 and last traded at C$11.77, with a volume of 3826 shares changing hands. The stock had previously closed at C$11.75.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TWM. Scotiabank raised their price objective on Tidewater Midstream and Infrastructure from C$7.00 to C$9.00 and gave the company a "sector perform" rating in a research note on Friday, March 27th. Royal Bank Of Canada raised their price target on shares of Tidewater Midstream and Infrastructure from C$10.00 to C$11.00 and gave the company a "sector perform" rating in a research report on Friday, March 27th. National Bank Financial upgraded shares of Tidewater Midstream and Infrastructure from a "strong sell" rating to a "hold" rating and boosted their price target for the stock from C$4.50 to C$9.50 in a report on Friday, March 27th. Finally, ATB Cormark Capital Markets upped 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. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Tidewater Midstream and Infrastructure currently has a consensus rating of "Hold" and an average target price of C$9.63.

Tidewater Midstream and Infrastructure Stock Up 3.6%

The stock has a fifty day moving average of C$8.75 and a 200 day moving average of C$6.62. 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 firm has a market capitalization of C$265.34 million, a P/E ratio of -2.34, a price-to-earnings-growth ratio of 0.64 and a beta of -0.20.

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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