Equitrans Midstream (NASDAQ:ETRN) Rating Increased to Hold at Zacks Investment Research

Equitrans Midstream (NASDAQ:ETRN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Equitrans Midstream Corporation owns, operates, acquires and develops midstream assets primarily in the Appalachian Basin. It manages natural gas transmission, storage and gathering systems, as well as high-and low-pressure gathering lines. Equitrans Midstream Corporation is based in Pittsburgh, United States. “

A number of other equities analysts have also recently commented on the company. BidaskClub cut Equitrans Midstream from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. JPMorgan Chase & Co. started coverage on Equitrans Midstream in a report on Tuesday, July 14th. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, Wells Fargo & Co raised Equitrans Midstream from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $6.00 to $11.00 in a report on Monday, April 27th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $11.71.

NASDAQ ETRN opened at $9.65 on Friday. The business’s fifty day moving average price is $9.05 and its 200-day moving average price is $8.29. Equitrans Midstream has a 1-year low of $3.75 and a 1-year high of $17.18.

Equitrans Midstream (NASDAQ:ETRN) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.38. The firm had revenue of $453.11 million for the quarter, compared to the consensus estimate of $375.80 million.

In other Equitrans Midstream news, CEO Thomas F. Karam purchased 45,000 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was acquired at an average price of $8.11 per share, for a total transaction of $364,950.00.

A number of hedge funds have recently modified their holdings of ETRN. Anderson Fisher LLC purchased a new stake in Equitrans Midstream in the 1st quarter worth $30,000. Clearbridge Investments LLC grew its position in shares of Equitrans Midstream by 85.6% during the first quarter. Clearbridge Investments LLC now owns 5,990 shares of the company’s stock valued at $30,000 after purchasing an additional 2,762 shares in the last quarter. Greenleaf Trust purchased a new position in shares of Equitrans Midstream during the first quarter valued at about $55,000. Frontier Investment Mgmt Co. purchased a new position in shares of Equitrans Midstream during the first quarter valued at about $60,000. Finally, CIBC World Markets Inc. purchased a new position in shares of Equitrans Midstream during the first quarter valued at about $61,000.

About Equitrans Midstream

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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