Tidewater Midstream and Infrastructure (TSE:TWM) Price Target Raised to C$26.00

Key Points

• ATB Cormark raised Tidewater Midstream’s price target to C$26 from C$24 and maintained an “outperform” rating, implying 17.43% upside from the reported C$22.14 share price.
• Analyst sentiment remains mixed: two analysts rate the stock a Buy and three rate it Hold, resulting in a consensus “Hold” rating and an average price target of C$23.60.
• The stock rose 1% in Friday trading and recently reported quarterly EPS of C$0.56 on revenue of C$552.1 million, though the company continues to post negative profitability metrics and carries a high debt-to-equity ratio of 368.12.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) had its price target raised by analysts at ATB Cormark Capital Markets from C$24.00 to C$26.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price suggests a potential upside of 17.43% from the company's current price.

TWM has been the topic of several other research reports. Scotiabank lifted their target price on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 21st. National Bank Financial upgraded shares of Tidewater Midstream and Infrastructure from a "hold" rating to an "outperform" rating and raised their price target for the company from C$17.00 to C$25.00 in a report on Tuesday, July 21st. Scotia lifted their price objective on shares of Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the stock a "sector perform" rating in a research report on Friday. Finally, Royal Bank Of Canada lifted 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Tidewater Midstream and Infrastructure presently has an average rating of "Hold" and a consensus price target of C$23.60.

Tidewater Midstream and Infrastructure Stock Up 1.0%

Tidewater Midstream and Infrastructure stock traded up C$0.22 during mid-day trading on Friday, reaching C$22.14. 87,109 shares of the company were exchanged, compared to its average volume of 61,374. The company has a debt-to-equity ratio of 368.12, a quick ratio of 0.55 and a current ratio of 0.91. The firm has a market cap of C$485.15 million, a P/E ratio of -4.46, a PEG ratio of 0.64 and a beta of 0.09. The business has a fifty day moving average of C$18.58 and a 200 day moving average of C$13.31. Tidewater Midstream and Infrastructure has a 12-month low of C$4.00 and a 12-month high of C$23.12.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported C$0.56 earnings per share (EPS) for the quarter. The business had revenue of C$552.10 million for the quarter. Tidewater Midstream and Infrastructure had a negative return on equity of 54.09% and a negative net margin of 7.71%. Research analysts anticipate that Tidewater Midstream and Infrastructure will post 0.0199855 earnings per share for the current fiscal 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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