Tidewater Midstream and Infrastructure (TSE:TWM) Shares Break Above 50 Day Moving Average – Here’s Why

Shares of Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of C$23.46 and traded as high as C$26.94. Tidewater Midstream and Infrastructure shares last traded at C$26.03, with a volume of 336,470 shares changing hands.

Analyst Ratings Changes

TWM has been the topic of several recent research reports. Scotiabank upped their price objective on Tidewater Midstream and Infrastructure from C$17.00 to C$21.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 21st. ATB Cormark Capital Markets upped their price objective on shares of Tidewater Midstream and Infrastructure from C$26.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. National Bank Financial raised their target price on Tidewater Midstream and Infrastructure from C$25.00 to C$27.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Royal Bank Of Canada upgraded Tidewater Midstream and Infrastructure from a “hold” rating to a “moderate buy” rating in a research report on Sunday, August 16th. Finally, Scotia raised their price objective on Tidewater Midstream and Infrastructure from C$21.00 to C$26.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.00.

Tidewater Midstream and Infrastructure Stock Performance

The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 309.29. The firm has a market cap of C$570.99 million, a PE ratio of -7.39, a P/E/G ratio of 0.64 and a beta of -0.33. The firm has a 50-day moving average price of C$23.46 and a two-hundred day moving average price of C$16.46.

Tidewater Midstream and Infrastructure (TSE:TWM) last posted its quarterly earnings data on Thursday, November 12th. The company reported C($1.19) EPS for the quarter. The firm had revenue of C$628.20 million during the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 4.75% and a negative return on equity of 42.19%. Research analysts forecast that Tidewater Midstream and Infrastructure Ltd. will post 0.02 EPS for the current fiscal year.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd. is traded on the TSX under the symbol ‘TWM’. Midstream’s business objective is to build a diversified midstream and infrastructure company across the North American gas processing, natural gas liquids (‘NGL’), petroleum refining, and renewables markets. Midstream’s strategy is to profitably grow and create shareholder value by acquiring and building high quality, strategically located infrastructure. To achieve its business objective, Midstream is focused on providing customers with a full service, vertically integrated value chain through the acquisition and development of energy infrastructure, including downstream facilities, natural gas processing facilities, NGL infrastructure, pipelines, storage, and various renewable initiatives.