Tidewater Midstream and Infrastructure (TSE:TWM) Sets New 52-Week High on Analyst Upgrade

Key Points

• Tidewater Midstream and Infrastructure hit a new 52-week high after Scotiabank raised its price target to C$17.00 from C$9.00. The stock traded as high as C$17.08 and was up about 8.1% on the day.
• Several other firms also lifted their targets, including RBC to C$18.00 and ATB Cormark to C$17.00, while the overall analyst view remains Hold. MarketBeat notes a consensus target price of C$16.80.
• The company’s latest quarterly results showed a loss of C$1.38 per share on revenue of C$314.10 million, with negative margins and a highly elevated debt-to-equity ratio. Analysts are forecasting a small profit of about 0.02 EPS for the current year.

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 after Scotiabank raised their price target on the stock from C$9.00 to C$17.00. The stock traded as high as C$17.08 and last traded at C$16.72, with a volume of 107744 shares changing hands. The stock had previously closed at C$15.48.

Several other research firms also recently issued reports on TWM. Scotia lifted their price target on shares of Tidewater Midstream and Infrastructure from C$9.00 to C$17.00 and gave the stock a "sector perform" rating in a research note on Friday. ATB Cormark Capital Markets lifted their target price 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. Royal Bank Of Canada increased their price target on Tidewater Midstream and Infrastructure from C$11.00 to C$18.00 and gave the company a "sector perform" rating in a report on Friday. Finally, National Bank Financial lifted their price objective on Tidewater Midstream and Infrastructure from C$9.50 to C$15.00 and gave the stock a "sector perform" rating in a report on Friday. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$16.80.

Tidewater Midstream and Infrastructure Trading Up 8.1%

The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 368.12. The company has a market cap of C$364.76 million, a price-to-earnings ratio of -3.22, a price-to-earnings-growth ratio of 0.64 and a beta of -0.10. The firm has a 50-day moving average price of C$9.76 and a 200 day moving average price of C$7.00.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last posted its quarterly earnings results on Thursday, March 26th. The company reported C($1.38) earnings per share (EPS) for the quarter. The firm had revenue of C$314.10 million for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 7.71% and a negative return on equity of 54.09%. As a group, sell-side analysts forecast that Tidewater Midstream and Infrastructure Ltd. will post 0.0199855 EPS 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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