Brokerages Set Equitrans Midstream Co. (NYSE:ETRN) PT at $13.10

Shares of Equitrans Midstream Co. (NYSE:ETRN) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $13.10.

Several research firms have weighed in on ETRN. US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company boosted their target price on shares of Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Morgan Stanley raised their price target on shares of Equitrans Midstream from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th.

Hedge Funds Weigh In On Equitrans Midstream

A number of hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Equitrans Midstream in the first quarter valued at $25,000. Truvestments Capital LLC acquired a new stake in Equitrans Midstream during the 1st quarter worth approximately $29,000. Harvest Fund Management Co. Ltd purchased a new position in Equitrans Midstream in the fourth quarter valued at approximately $39,000. Mather Group LLC. acquired a new position in Equitrans Midstream during the first quarter valued at approximately $54,000. Finally, Hexagon Capital Partners LLC grew its stake in Equitrans Midstream by 185.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock worth $58,000 after buying an additional 3,716 shares during the period. Institutional investors and hedge funds own 87.35% of the company’s stock.

Equitrans Midstream Price Performance

Equitrans Midstream stock opened at $12.42 on Thursday. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 11.19 and a beta of 2.01. The company has a debt-to-equity ratio of 4.88, a quick ratio of 0.63 and a current ratio of 0.63. Equitrans Midstream has a fifty-two week low of $8.57 and a fifty-two week high of $14.64. The stock’s fifty day moving average is $13.42 and its two-hundred day moving average is $12.22.

Equitrans Midstream (NYSE:ETRN) last announced its earnings results on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Equitrans Midstream had a net margin of 31.69% and a return on equity of 30.21%. The company had revenue of $364.27 million during the quarter, compared to analysts’ expectations of $345.79 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts predict that Equitrans Midstream will post 0.75 EPS for the current fiscal year.

Equitrans Midstream Company Profile

Equitrans Midstream Corporation owns, operates, acquires, and develops midstream assets in the Appalachian Basin. The company operates through Gathering, Transmission, and Water segments. It operates dry gas gathering systems of high-pressure gathering lines and FERC-regulated interstate pipelines and storage systems.