Jump Financial LLC increased its holdings in shares of Equitrans Midstream Co. (NYSE:ETRN – Free Report) by 76.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,237 shares of the company’s stock after acquiring an additional 28,641 shares during the quarter. Jump Financial LLC’s holdings in Equitrans Midstream were worth $383,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Maverick Capital Ltd. raised its position in shares of Equitrans Midstream by 11.8% in the first quarter. Maverick Capital Ltd. now owns 14,713 shares of the company’s stock valued at $124,000 after purchasing an additional 1,558 shares during the period. Pathstone Family Office LLC lifted its position in Equitrans Midstream by 12.7% during the third quarter. Pathstone Family Office LLC now owns 14,227 shares of the company’s stock worth $106,000 after acquiring an additional 1,606 shares during the last quarter. Profund Advisors LLC boosted its holdings in shares of Equitrans Midstream by 3.9% during the fourth quarter. Profund Advisors LLC now owns 49,343 shares of the company’s stock worth $331,000 after acquiring an additional 1,873 shares during the period. Creative Planning grew its position in shares of Equitrans Midstream by 5.1% in the fourth quarter. Creative Planning now owns 39,901 shares of the company’s stock valued at $267,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Equitrans Midstream by 50.6% during the second quarter. Captrust Financial Advisors now owns 6,682 shares of the company’s stock worth $42,000 after purchasing an additional 2,244 shares during the period. Institutional investors own 89.71% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently issued reports on ETRN shares. Morgan Stanley restated an “overweight” rating and issued a $14.00 price target on shares of Equitrans Midstream in a research note on Tuesday, July 18th. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a report on Wednesday, June 28th. JPMorgan Chase & Co. boosted their price target on Equitrans Midstream from $9.50 to $11.00 in a research note on Friday, June 9th. US Capital Advisors upgraded Equitrans Midstream from a “hold” rating to an “overweight” rating in a research note on Wednesday, May 31st. Finally, Bank of America increased their target price on Equitrans Midstream from $5.00 to $9.00 in a report on Thursday, June 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.69.
Equitrans Midstream Stock Up 2.6 %
Shares of NYSE ETRN opened at $9.97 on Tuesday. The company has a market cap of $4.32 billion, a price-to-earnings ratio of -13.30, a PEG ratio of 0.98 and a beta of 1.92. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.87. Equitrans Midstream Co. has a 12 month low of $4.60 and a 12 month high of $10.48. The stock has a 50-day moving average price of $9.29 and a two-hundred day moving average price of $7.03.
Equitrans Midstream (NYSE:ETRN – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $318.50 million during the quarter, compared to analysts’ expectations of $311.21 million. Equitrans Midstream had a negative net margin of 18.60% and a positive return on equity of 20.49%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. As a group, analysts forecast that Equitrans Midstream Co. will post 0.54 earnings per share for the current fiscal year.
Equitrans Midstream Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Friday, August 4th will be given a dividend of $0.15 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 6.02%. Equitrans Midstream’s dividend payout ratio is currently -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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