Strs Ohio boosted its stake in Equitrans Midstream Co. (NYSE:ETRN – Free Report) by 1,087.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,000 shares of the company’s stock after buying an additional 34,800 shares during the period. Strs Ohio’s holdings in Equitrans Midstream were worth $363,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Maverick Capital Ltd. lifted its holdings in Equitrans Midstream by 11.8% in the first quarter. Maverick Capital Ltd. now owns 14,713 shares of the company’s stock worth $124,000 after buying an additional 1,558 shares during the period. Pathstone Family Office LLC lifted its holdings in Equitrans Midstream by 12.7% in the third quarter. Pathstone Family Office LLC now owns 14,227 shares of the company’s stock worth $106,000 after buying an additional 1,606 shares during the period. Creative Planning lifted its holdings in Equitrans Midstream by 5.1% in the fourth quarter. Creative Planning now owns 39,901 shares of the company’s stock worth $267,000 after buying an additional 1,940 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Equitrans Midstream by 6.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 31,681 shares of the company’s stock worth $303,000 after buying an additional 1,972 shares during the period. Finally, Truist Financial Corp lifted its holdings in shares of Equitrans Midstream by 15.6% during the first quarter. Truist Financial Corp now owns 15,211 shares of the company’s stock valued at $88,000 after purchasing an additional 2,051 shares during the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.
Equitrans Midstream Price Performance
Shares of ETRN opened at $8.79 on Tuesday. The company has a market capitalization of $3.81 billion, a P/E ratio of -12.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 4.87. The firm has a 50 day moving average of $9.44 and a 200 day moving average of $8.46. Equitrans Midstream Co. has a twelve month low of $4.60 and a twelve month high of $10.48.
Equitrans Midstream Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Friday, November 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.83%. The ex-dividend date of this dividend is Thursday, November 2nd. Equitrans Midstream’s dividend payout ratio (DPR) is presently -82.19%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Equitrans Midstream in a report on Tuesday, August 8th. Pickering Energy Partners assumed coverage on shares of Equitrans Midstream in a report on Tuesday, October 3rd. They set an “underperform” rating for the company. Morgan Stanley reiterated an “overweight” rating and set a $14.00 target price on shares of Equitrans Midstream in a report on Tuesday, July 18th. The Goldman Sachs Group assumed coverage on shares of Equitrans Midstream in a report on Thursday, October 5th. They set a “buy” rating and a $11.50 target price for the company. Finally, TheStreet lowered shares of Equitrans Midstream from a “c-” rating to a “d+” rating in a report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.31.
View Our Latest Report on ETRN
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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