Tidewater Midstream and Infrastructure (TSE:TWM) Trading 4.9% Higher - Still a Buy?

Key Points

• Tidewater Midstream and Infrastructure Ltd. saw its stock price increase by 4.9% to C$4.72, despite a significant drop in trading volume by 85% from its average daily volume.
• Scotiabank raised its price objective for the company from C$0.30 to C$6.00 and awarded it a "sector perform" rating, with a consensus target price also set at C$6.00.
• The company has a high debt-to-equity ratio of 183.03 and is involved in the midstream infrastructure and transportation of Natural Gas Liquids across North America.

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM - Get Free Report) shares rose 4.9% during trading on Monday . The stock traded as high as C$4.74 and last traded at C$4.72. Approximately 64,419 shares traded hands during trading, a decline of 85% from the average daily volume of 434,936 shares. The stock had previously closed at C$4.50.

Wall Street Analysts Forecast Growth

Separately, Scotiabank boosted their target price on shares of Tidewater Midstream and Infrastructure from C$0.30 to C$6.00 and gave the stock a "sector perform" rating in a research note on Wednesday, September 3rd. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of C$6.00.

Tidewater Midstream and Infrastructure Stock Performance

The company's 50 day moving average price is C$4.58 and its 200-day moving average price is C$4.57. The company has a market cap of C$129.57 million, a PE ratio of -2.31, a price-to-earnings-growth ratio of 0.64 and a beta of -0.10. The company has a debt-to-equity ratio of 183.03, a quick ratio of 0.55 and a current ratio of 1.23.

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.