Equitrans Midstream (NYSE:ETRN) Reaches New 52-Week High at $13.08

Equitrans Midstream Co. (NYSE:ETRN)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $13.08 and last traded at $13.07, with a volume of 1579102 shares changing hands. The stock had previously closed at $12.86.

Analysts Set New Price Targets

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

Equitrans Midstream Price Performance

The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 1.66 and a beta of 1.97. The stock’s fifty day moving average price is $11.51 and its two-hundred day moving average price is $10.38. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 4.83.

Equitrans Midstream (NYSE:ETRN) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.16. Equitrans Midstream had a return on equity of 30.41% and a net margin of 30.89%. The company had revenue of $360.60 million during the quarter, compared to the consensus estimate of $348.04 million. During the same period in the previous year, the business earned $0.13 EPS. Equitrans Midstream’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts expect that Equitrans Midstream Co. will post 0.87 EPS for the current year.

Hedge Funds Weigh In On Equitrans Midstream

Several hedge funds have recently added to or reduced their stakes in ETRN. State of Michigan Retirement System boosted its holdings in shares of Equitrans Midstream by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 106,402 shares of the company’s stock valued at $1,329,000 after buying an additional 2,500 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Equitrans Midstream by 25.7% in the first quarter. Hexagon Capital Partners LLC now owns 7,187 shares of the company’s stock valued at $90,000 after acquiring an additional 1,471 shares during the last quarter. True North Advisors LLC lifted its position in Equitrans Midstream by 2.9% in the first quarter. True North Advisors LLC now owns 82,347 shares of the company’s stock valued at $1,029,000 after acquiring an additional 2,300 shares during the last quarter. Inscription Capital LLC acquired a new position in Equitrans Midstream in the first quarter valued at $564,000. Finally, Rise Advisors LLC purchased a new position in shares of Equitrans Midstream during the first quarter worth about $25,000. 87.35% of the stock is currently owned by hedge funds and other institutional investors.

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.