Gamco Investors INC. ET AL Acquires Shares of 294,537 Equitrans Midstream Co. (NYSE:ETRN)

Gamco Investors INC. ET AL bought a new position in Equitrans Midstream Co. (NYSE:ETRN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 294,537 shares of the company’s stock, valued at approximately $3,679,000.

Other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Equitrans Midstream during the first quarter valued at $25,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Equitrans Midstream during the fourth quarter valued at $39,000. Mather Group LLC. purchased a new stake in shares of Equitrans Midstream during the first quarter valued at $54,000. Hexagon Capital Partners LLC boosted its position in shares of Equitrans Midstream by 185.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 5,716 shares of the company’s stock valued at $58,000 after buying an additional 3,716 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Equitrans Midstream during the fourth quarter valued at $101,000. 87.35% of the stock is owned by hedge funds and other institutional investors.

Equitrans Midstream Stock Performance

Shares of NYSE ETRN remained flat at $12.42 during trading on Friday. The business has a 50-day moving average of $13.37 and a 200 day moving average of $12.24. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 4.88. Equitrans Midstream Co. has a 1 year low of $8.57 and a 1 year high of $14.64. The company 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.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. US Capital Advisors downgraded Equitrans Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company increased their target price on Equitrans Midstream from $12.00 to $13.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, Morgan Stanley increased their target price on Equitrans Midstream from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Equitrans Midstream presently has a consensus rating of “Hold” and an average target price of $13.10.

About Equitrans Midstream

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.