Equitrans Midstream (NASDAQ:ETRN) Receives Average Recommendation of “Hold” from Analysts

Equitrans Midstream (NASDAQ:ETRN) has been given a consensus rating of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $21.88.

Several research firms have weighed in on ETRN. Royal Bank of Canada set a $19.00 target price on Equitrans Midstream and gave the company a “hold” rating in a research report on Wednesday, July 31st. Bank of America began coverage on Equitrans Midstream in a research report on Monday, June 17th. They issued a “neutral” rating and a $21.00 target price for the company. Zacks Investment Research downgraded Equitrans Midstream from a “hold” rating to a “sell” rating in a research report on Monday, July 29th. Finally, UBS Group began coverage on Equitrans Midstream in a research report on Tuesday, August 6th. They issued a “neutral” rating and a $15.00 target price for the company.

NASDAQ ETRN traded up $0.08 during trading on Wednesday, hitting $14.04. The stock had a trading volume of 2,666,300 shares, compared to its average volume of 2,053,896. The firm has a 50 day moving average price of $16.71 and a 200 day moving average price of $19.42. Equitrans Midstream has a twelve month low of $12.94 and a twelve month high of $23.47.

Equitrans Midstream (NASDAQ:ETRN) last released its earnings results on Tuesday, July 30th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.18. The firm had revenue of $406.17 million during the quarter, compared to analyst estimates of $413.30 million.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Tuesday, August 13th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 12.82%. The ex-dividend date is Monday, August 12th.

In related news, CFO Kirk R. Oliver acquired 13,700 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $16.10 per share, for a total transaction of $220,570.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Margaret K. Dorman acquired 7,750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $16.11 per share, with a total value of $124,852.50. The disclosure for this purchase can be found here. Insiders bought a total of 121,450 shares of company stock valued at $1,956,423 in the last quarter.

Several institutional investors and hedge funds have recently made changes to their positions in ETRN. Louisiana State Employees Retirement System lifted its stake in Equitrans Midstream by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 54,500 shares of the company’s stock worth $1,187,000 after purchasing an additional 500 shares during the last quarter. Boston Partners lifted its stake in Equitrans Midstream by 0.4% during the first quarter. Boston Partners now owns 149,367 shares of the company’s stock worth $3,253,000 after purchasing an additional 611 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Equitrans Midstream by 6.6% during the first quarter. CIBC Asset Management Inc now owns 11,123 shares of the company’s stock worth $242,000 after purchasing an additional 693 shares during the last quarter. Keeley Teton Advisors LLC lifted its stake in Equitrans Midstream by 1.8% during the second quarter. Keeley Teton Advisors LLC now owns 45,603 shares of the company’s stock worth $899,000 after purchasing an additional 815 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Equitrans Midstream by 8.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,792 shares of the company’s stock worth $235,000 after purchasing an additional 886 shares during the last quarter.

Equitrans Midstream Company Profile

Equitrans Midstream Corp. is a wholly-owned subsidiary of EQT. It doesn’t have business operations. The company was founded on February 21, 2018 and is headquartered in Canonsburg, PA.

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Analyst Recommendations for Equitrans Midstream (NASDAQ:ETRN)

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