Tidewater Midstream and Infrastructure (TSE:TWM) Trading Up 12.3% - Here's Why

Key Points

• Shares jumped 12.3% intraday to a high of C$15.97 (last C$15.46) on Thursday with volume ~111,956 shares, about 195% above average.
• Multiple analysts raised ratings and price targets (e.g., National Bank to Hold; RBC, Scotiabank, ATB raised targets), leaving a consensus rating of Hold and an average price target of C$9.63.
• Company fundamentals remain weak: Tidewater reported C($1.38) EPS last quarter, a negative net margin and ROE, and a very high debt-to-equity of 315.42.

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM - Get Free Report)'s stock price was up 12.3% during trading on Thursday . The company traded as high as C$15.97 and last traded at C$15.46. Approximately 111,956 shares traded hands during mid-day trading, an increase of 195% from the average daily volume of 37,997 shares. The stock had previously closed at C$13.77.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TWM shares. ATB Cormark Capital Markets increased their price objective on Tidewater Midstream and Infrastructure from C$6.00 to C$9.00 and gave the stock a "sector perform" rating in a report on Friday, March 27th. National Bank Financial upgraded Tidewater Midstream and Infrastructure from a "strong sell" rating to a "hold" rating and increased their price objective for the stock from C$4.50 to C$9.50 in a report on Friday, March 27th. Scotiabank increased their price objective on Tidewater Midstream and Infrastructure from C$7.00 to C$9.00 and gave the stock a "sector perform" rating in a report on Friday, March 27th. Finally, Royal Bank Of Canada increased their price objective on Tidewater Midstream and Infrastructure from C$10.00 to C$11.00 and gave the stock a "sector perform" rating in a report on Friday, March 27th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Tidewater Midstream and Infrastructure currently has an average rating of "Hold" and a consensus price target of C$9.63.

Tidewater Midstream and Infrastructure Stock Performance

The company has a debt-to-equity ratio of 315.42, a current ratio of 0.61 and a quick ratio of 0.55. The firm has a fifty day simple moving average of C$9.60 and a 200 day simple moving average of C$6.94. The company has a market cap of C$327.48 million, a price-to-earnings ratio of -2.89, a P/E/G ratio of 0.64 and a beta of -0.10.

Tidewater Midstream and Infrastructure (TSE:TWM - Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The company reported C($1.38) EPS for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 8.51% and a negative return on equity of 49.98%. The company had revenue of C$314.10 million for the quarter. On average, sell-side analysts expect that Tidewater Midstream and Infrastructure Ltd. 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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