Tidewater Midstream and Infrastructure (TSE:TWM) Hits New 52-Week High - Here's What Happened

Key Points

• Tidewater Midstream and Infrastructure reached a new 52-week high of C$22.95 before trading at C$22.28, up from its previous close of C$21.36.
• Analyst sentiment remains mostly cautious: four analysts rate the stock “Hold” and one rates it “Buy,” producing a consensus “Hold” rating and a C$20.00 price target. National Bank Financial has the highest target at C$25.00.
• The company reported quarterly revenue of C$552.10 million and EPS of C$0.56, but continues to show financial strain, including a negative net margin of 7.71%, negative ROE of 54.09%, and a high debt-to-equity ratio of 368.12.

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWM - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$22.95 and last traded at C$22.28, with a volume of 89034 shares changing hands. The stock had previously closed at C$21.36.

Wall Street Analyst Weigh In

TWM has been the topic of several recent research reports. Scotia raised their price target on Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the stock a "sector perform" rating in a report on Friday, May 8th. Scotiabank upped their price objective on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 21st. National Bank Financial raised shares of Tidewater Midstream and Infrastructure from a "hold" rating to an "outperform" rating and raised their target price for the company from C$17.00 to C$25.00 in a research note on Tuesday, July 21st. 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 company a "sector perform" rating in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada upped their price target 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 note on Friday, May 8th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Tidewater Midstream and Infrastructure presently has a consensus rating of "Hold" and a consensus price target of C$20.00.

Tidewater Midstream and Infrastructure Stock Down 1.1%

The company has a debt-to-equity ratio of 368.12, a current ratio of 0.91 and a quick ratio of 0.55. The stock has a market capitalization of C$462.80 million, a P/E ratio of -4.26, a PEG ratio of 0.64 and a beta of 0.09. The stock's fifty day moving average is C$18.49 and its two-hundred day moving average is C$13.20.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported C$0.56 earnings per share (EPS) 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$552.10 million for the quarter. As a group, research analysts predict that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 earnings per share for the current fiscal 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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