Tidewater Midstream and Infrastructure (TSE:TWM) Reaches New 52-Week High - Time to Buy?

Key Points

• Tidewater Midstream and Infrastructure hit a new 52-week high, trading as high as C$22.52 and closing near C$22.14 on Thursday.
• Several analysts have raised their price targets, with National Bank Financial upgrading the stock to outperform; however, the overall consensus remains Hold with an average target price of C$20.00.
• The company’s latest results showed weak profitability, including a C($1.24) quarterly EPS, negative net margin, and negative return on equity, even as revenue reached C$385.6 million.

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as C$22.52 and last traded at C$22.14, with a volume of 55000 shares. The stock had previously closed at C$21.87.

Analyst Ratings Changes

A number of research analysts have recently commented on TWM shares. 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 company a "sector perform" rating in a research report on Friday, May 8th. National Bank Financial raised shares of Tidewater Midstream and Infrastructure from a "hold" rating to an "outperform" rating and increased their price objective for the company from C$17.00 to C$25.00 in a research report on Tuesday. 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 stock a "sector perform" rating in a research note on Thursday, July 9th. Scotiabank increased their price target on shares of Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the company a "sector perform" rating in a report on Tuesday. Finally, Scotia upped their price objective on Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the stock a "sector perform" rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Tidewater Midstream and Infrastructure presently has a consensus rating of "Hold" and an average target price of C$20.00.

Tidewater Midstream and Infrastructure Stock Up 0.5%

The stock has a 50-day moving average price of C$17.51 and a 200-day moving average price of C$11.62. 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 company has a market capitalization of C$481.87 million, a P/E ratio of -4.43, a P/E/G ratio of 0.64 and a beta of 0.11.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported C($1.24) earnings per share for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 7.71% and a negative return on equity of 54.09%. The firm had revenue of C$385.60 million for the quarter. On average, research analysts predict that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 EPS 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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