Harvest Fund Management Co. Ltd Makes New $39,000 Investment in Equitrans Midstream Co. (NYSE:ETRN)

Harvest Fund Management Co. Ltd bought a new position in shares of Equitrans Midstream Co. (NYSE:ETRN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,846 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its stake in Equitrans Midstream by 5.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,316 shares of the company’s stock worth $312,000 after acquiring an additional 1,635 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of Equitrans Midstream by 0.9% during the third quarter. Chicago Partners Investment Group LLC now owns 189,541 shares of the company’s stock valued at $1,689,000 after buying an additional 1,681 shares during the last quarter. Arizona State Retirement System raised its position in shares of Equitrans Midstream by 1.4% during the third quarter. Arizona State Retirement System now owns 123,341 shares of the company’s stock valued at $1,156,000 after buying an additional 1,693 shares during the last quarter. AlphaMark Advisors LLC raised its position in shares of Equitrans Midstream by 66.2% during the third quarter. AlphaMark Advisors LLC now owns 5,650 shares of the company’s stock valued at $53,000 after buying an additional 2,250 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Equitrans Midstream by 0.6% during the third quarter. Los Angeles Capital Management LLC now owns 407,834 shares of the company’s stock valued at $3,821,000 after buying an additional 2,272 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

Equitrans Midstream Trading Up 0.2 %

ETRN stock opened at $13.75 on Friday. The firm has a fifty day moving average price of $11.77 and a 200 day moving average price of $10.48. Equitrans Midstream Co. has a fifty-two week low of $4.65 and a fifty-two week high of $13.80. The company has a debt-to-equity ratio of 4.83, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $6.00 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.83 and a beta of 1.97.

Equitrans Midstream (NYSE:ETRN) last posted its earnings results on Tuesday, February 20th. The company reported $0.32 earnings per share 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 during the quarter, compared to analyst estimates of $348.04 million. During the same period last year, the firm posted $0.13 earnings per share. Equitrans Midstream’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that Equitrans Midstream Co. will post 0.87 earnings per share for the current fiscal year.

Equitrans Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Monday, May 6th. Equitrans Midstream’s payout ratio is 67.42%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Equitrans Midstream in a research report on Thursday, March 7th. Barclays lifted their price objective on shares of Equitrans Midstream from $6.00 to $11.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Morgan Stanley reduced their price objective on shares of Equitrans Midstream from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $10.86.

Equitrans Midstream 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.