Equitrans Midstream (NYSE:ETRN – Get Rating) had its target price reduced by Barclays from $8.00 to $6.00 in a research note published on Monday, The Fly reports.
A number of other analysts have also weighed in on the stock. Citigroup lowered their price target on shares of Equitrans Midstream from $8.00 to $6.50 and set a neutral rating for the company in a report on Tuesday, April 4th. Wells Fargo & Company cut shares of Equitrans Midstream from an overweight rating to an equal weight rating and dropped their price objective for the stock from $12.00 to $8.00 in a research note on Friday, December 16th. Finally, The Goldman Sachs Group downgraded shares of Equitrans Midstream from a buy rating to a sell rating and reduced their price target for the company from $9.50 to $6.00 in a research note on Tuesday, January 31st. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat, Equitrans Midstream presently has an average rating of Hold and an average price target of $7.00.
Equitrans Midstream Price Performance
Shares of NYSE ETRN opened at $5.12 on Monday. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -7.11, a PEG ratio of 4.31 and a beta of 1.95. The company has a debt-to-equity ratio of 4.91, a quick ratio of 0.94 and a current ratio of 0.94. Equitrans Midstream has a 1 year low of $4.84 and a 1 year high of $9.90. The stock’s 50-day simple moving average is $5.99 and its 200-day simple moving average is $7.03.
Equitrans Midstream Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Monday, February 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.72%. The ex-dividend date of this dividend was Friday, February 3rd. Equitrans Midstream’s payout ratio is -83.33%.
Insider Activity
In related news, CFO Kirk R. Oliver purchased 9,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were bought at an average price of $5.46 per share, with a total value of $49,140.00. Following the completion of the acquisition, the chief financial officer now owns 39,118 shares of the company’s stock, valued at $213,584.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. Allworth Financial LP raised its position in Equitrans Midstream by 198.4% in the third quarter. Allworth Financial LP now owns 3,638 shares of the company’s stock worth $27,000 after acquiring an additional 2,419 shares during the period. Wipfli Financial Advisors LLC bought a new position in Equitrans Midstream during the third quarter valued at approximately $49,000. Captrust Financial Advisors grew its position in shares of Equitrans Midstream by 50.6% during the 2nd quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock valued at $42,000 after acquiring an additional 2,244 shares during the period. Signaturefd LLC increased its stake in Equitrans Midstream by 89.6% in the 3rd quarter. Signaturefd LLC now owns 9,829 shares of the company’s stock worth $74,000 after buying an additional 4,646 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of Equitrans Midstream by 74.3% during the 1st quarter. Covestor Ltd now owns 11,207 shares of the company’s stock valued at $95,000 after acquiring an additional 4,776 shares during the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.
Equitrans Midstream Company Profile
Equitrans Midstream Corp. engages in the provision of midstream services. It operates through the following segments: Gathering, Transmission, and Water. The Gathering segment includes EQM’s high-pressure gathering lines and FERC-regulated low-pressure gathering lines. The Transmission segment refers to the EQM’s FERC-regulated interstate pipelines and storage system.
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