NBW Capital LLC Acquires New Position in Equitrans Midstream Co. (NYSE:ETRN)

NBW Capital LLC acquired a new stake in shares of Equitrans Midstream Co. (NYSE:ETRN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 277,320 shares of the company’s stock, valued at approximately $2,823,000. NBW Capital LLC owned 0.06% of Equitrans Midstream as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of Equitrans Midstream by 125.3% during the third quarter. Envestnet Asset Management Inc. now owns 516,372 shares of the company’s stock valued at $4,838,000 after buying an additional 287,176 shares during the period. Valueworks LLC increased its position in Equitrans Midstream by 14.7% during the third quarter. Valueworks LLC now owns 765,213 shares of the company’s stock worth $7,170,000 after purchasing an additional 97,940 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Equitrans Midstream during the third quarter worth approximately $2,555,000. Advisors Capital Management LLC acquired a new position in Equitrans Midstream during the third quarter worth approximately $3,533,000. Finally, Deutsche Bank AG increased its position in Equitrans Midstream by 16.5% during the third quarter. Deutsche Bank AG now owns 234,295 shares of the company’s stock worth $2,195,000 after purchasing an additional 33,134 shares during the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Stock Up 0.4 %

NYSE ETRN traded up $0.05 during trading hours on Thursday, reaching $12.32. 5,789,710 shares of the company traded hands, compared to its average volume of 6,327,463. Equitrans Midstream Co. has a 12 month low of $4.60 and a 12 month high of $13.06. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83. The stock has a market capitalization of $5.37 billion, a PE ratio of 13.79, a PEG ratio of 1.64 and a beta of 1.97. The company has a 50 day moving average of $11.37 and a two-hundred day moving average of $10.30.

Equitrans Midstream (NYSE:ETRN) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.16. Equitrans Midstream had a net margin of 30.89% and a return on equity of 30.41%. The firm had revenue of $360.60 million for the quarter, compared to the consensus estimate of $348.04 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts expect that Equitrans Midstream Co. will post 0.87 earnings per share for the current year.

Equitrans Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, February 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.87%. Equitrans Midstream’s payout ratio is currently 67.42%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ETRN. TheStreet raised shares of Equitrans Midstream from a “d+” rating to a “c-” rating in a research report on Wednesday, December 27th. Morgan Stanley dropped their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, February 22nd. Barclays increased their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.86.

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.