Mutual of America Capital Management LLC lowered its stake in Equitrans Midstream Co. (NYSE:ETRN – Free Report) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 347,881 shares of the company’s stock after selling 7,315 shares during the quarter. Mutual of America Capital Management LLC owned about 0.08% of Equitrans Midstream worth $2,011,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Jump Financial LLC lifted its stake in Equitrans Midstream by 76.2% in the first quarter. Jump Financial LLC now owns 66,237 shares of the company’s stock valued at $383,000 after buying an additional 28,641 shares in the last quarter. Van ECK Associates Corp lifted its stake in Equitrans Midstream by 37.7% in the first quarter. Van ECK Associates Corp now owns 192,586 shares of the company’s stock valued at $1,113,000 after buying an additional 52,685 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in Equitrans Midstream by 12.6% in the first quarter. Miller Howard Investments Inc. NY now owns 1,185,789 shares of the company’s stock valued at $6,854,000 after buying an additional 132,366 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in Equitrans Midstream by 22.7% in the first quarter. New Mexico Educational Retirement Board now owns 78,400 shares of the company’s stock valued at $453,000 after buying an additional 14,500 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Equitrans Midstream by 22.6% in the first quarter. Nisa Investment Advisors LLC now owns 43,933 shares of the company’s stock valued at $254,000 after buying an additional 8,105 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on ETRN. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research note on Wednesday, June 28th. US Capital Advisors upgraded shares of Equitrans Midstream from a “hold” rating to an “overweight” rating in a report on Wednesday, May 31st. JPMorgan Chase & Co. increased their target price on shares of Equitrans Midstream from $9.50 to $11.00 in a report on Friday, June 9th. Raymond James assumed coverage on shares of Equitrans Midstream in a report on Friday, April 21st. They set a “market perform” rating for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $14.00 target price on shares of Equitrans Midstream in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.69.
Equitrans Midstream Price Performance
Shares of ETRN opened at $9.97 on Tuesday. The firm has a market capitalization of $4.32 billion, a PE ratio of -13.65, a PEG ratio of 0.98 and a beta of 1.92. The company’s 50-day moving average is $9.29 and its 200-day moving average is $7.03. Equitrans Midstream Co. has a fifty-two week low of $4.60 and a fifty-two week high of $10.48. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.90 and a quick ratio of 0.90.
Equitrans Midstream (NYSE:ETRN – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $318.50 million for the quarter, compared to analyst estimates of $311.21 million. Equitrans Midstream had a negative net margin of 18.60% and a positive return on equity of 20.49%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. Equities analysts forecast that Equitrans Midstream Co. will post 0.54 EPS for the current year.
Equitrans Midstream Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Friday, August 4th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.02%. The ex-dividend date is Thursday, August 3rd. Equitrans Midstream’s payout ratio is presently -82.19%.
About Equitrans Midstream
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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