Nisa Investment Advisors LLC raised its holdings in shares of Equitrans Midstream Co. (NYSE:ETRN – Free Report) by 22.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,933 shares of the company’s stock after acquiring an additional 8,105 shares during the period. Nisa Investment Advisors LLC’s holdings in Equitrans Midstream were worth $254,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ETRN. Advisor Group Holdings Inc. grew its holdings in shares of Equitrans Midstream by 8.6% during the first quarter. Advisor Group Holdings Inc. now owns 29,538 shares of the company’s stock worth $257,000 after buying an additional 2,349 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Equitrans Midstream by 2.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 206,910 shares of the company’s stock worth $1,746,000 after buying an additional 4,523 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Equitrans Midstream by 141.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 36,482 shares of the company’s stock worth $308,000 after buying an additional 21,372 shares in the last quarter. AlphaCrest Capital Management LLC purchased a new stake in shares of Equitrans Midstream during the first quarter worth $160,000. Finally, Rhumbline Advisers grew its holdings in shares of Equitrans Midstream by 2.3% during the first quarter. Rhumbline Advisers now owns 1,311,185 shares of the company’s stock worth $11,066,000 after buying an additional 29,595 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.
Equitrans Midstream Stock Down 3.4 %
ETRN stock opened at $10.02 on Wednesday. The company’s 50 day moving average price is $9.06 and its 200 day moving average price is $6.98. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.03 and a current ratio of 1.03. Equitrans Midstream Co. has a fifty-two week low of $4.60 and a fifty-two week high of $10.48. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -13.91, a PEG ratio of 1.21 and a beta of 1.92.
Equitrans Midstream Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, August 4th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Thursday, August 3rd. Equitrans Midstream’s dividend payout ratio is presently -83.33%.
Wall Street Analysts Forecast Growth
ETRN has been the topic of several recent research reports. Barclays lowered their price target on shares of Equitrans Midstream from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, April 10th. Bank of America upped their target price on shares of Equitrans Midstream from $5.00 to $9.00 in a research report on Thursday, June 8th. US Capital Advisors raised shares of Equitrans Midstream from a “hold” rating to an “overweight” rating in a research report on Wednesday, May 31st. JPMorgan Chase & Co. boosted their price target on shares of Equitrans Midstream from $9.50 to $11.00 in a research note on Friday, June 9th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $14.00 price target on shares of Equitrans Midstream in a research note on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.69.
Equitrans Midstream Profile
Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. It operates through three segments: Gathering, Transmission, and Water. The company operates dry gas gathering systems of high-pressure gathering lines; FERC-regulated interstate pipelines and storage systems; and water pipelines and other facilities that deliver fresh water from local municipal water authorities, the Monongahela River, the Ohio River, local reservoirs, and several regional waterways.
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